Facility Management is a bunch of services offered to a building or a facility to manage different operations that include physical aspects like HVAC (Heating, Ventilation, & Air Conditioning), plumbing & wastewater, catering, lighting & electrical, as well as soft services like housekeeping, security, etc. With the growing awareness about the benefits of these facility management services, several organizations in the United States are increasingly adopting them for in-house & outsourced operating models to enhance their overall efficiency.
The USA Facility Management Market is projected to grow at a CAGR of around 5.5% during the forecast period, i.e., 2022-27. The growth of the market is driven primarily by massive investments by the US government in developing different industries like construction, transportation, corporate, & hospitality, among others, i.e., surging the demand for facility management services to improve the overall operational efficiency & productivity of businesses with cost-effectiveness.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Region Covered||South, West, Midwest, Northeast, Others|
|Key Companies Profiled||Compass Group, Sodexo, EMCOR, Cushman & Wakefield, Trane, CBRE, Jones Lang LaSalle Incorporated (JLL), G4S PLC, ISS, Ecolab|
|Unit Denominations||USD Million/Billion|
Besides, with the swift expansion of the corporate sector and the increasing establishment of multinational companies & start-ups in the country, the US government is actively working on constructing more and more offices, which, in turn, is also augmenting the demand for facility management services.
Impact of Covid-19 on the USA Facility Management Market
The advent of Covid-19 in 2020 had a decelerating effect on most industries across the USA, and the Facility Management Market was no exception. The market underwent moderate effects of the crisis, principally due to the imposition of stringent movement restrictions & lockdown by the US government to curb the spread of this dreadful disease. Initially, while organizations were compelled to work from home, the demand for facility management services underwent a temporary decline and resulted in significant financial losses for the leading industry players.
However, the demand for these services escalated dramatically across the healthcare sector, principally to ensure utmost safety & hygiene in the facility while managing all the operations efficiently. It, in turn, displayed a positive effect on the market throughout the USA. Besides, with the gradually reducing number of Covid-19 cases, the USA government uplifted the restrictions and allowed the recommencement of business operations. It, in turn, propelled the demand for facility management services throughout the country to ensure safety & hygiene in facilities.
Based on the Operating Model:
Here, the Outsourced model is anticipated to demonstrate the fastest growth in the USA Facility Management Market during the forecast period. It attributes principally to the mounting inclination of organizations toward employing third parties for outsourcing their non-core activities so that they can focus entirely on the core business operations.
Besides, since outsourced service providers always have an edge in offering technologically advanced solutions, it is attracting more & more companies to opt for outsourced facility management services, thereby augmenting the overall market growth.
Based on the Type of Services:
Here, risk services are anticipated to display the fastest market growth during 2022-27. It owes principally to the rapidly increasing cases of cyber threats & attacks in the country, gaining growing government support through favorable policies & massive investments to enhance safety & attain improved risks management services. It, in turn, is stimulating the demand for facility management services offering to enhance risks protection and driving the market through 2027.
Moreover, the rapid digital transformation & increasing automation are also surging the demand for risk facility management services across the USA. It, in turn, is positively influencing the overall market growth and projecting remunerative prospects for the leading players in the industry.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The USA Facility Management Market is projected to grow at a CAGR of around 5.5% during 2022-27.
A. The swift expanding healthcare & hospitality sectors are projected to drive the USA Facility Management Market through 2027.
A. The surging adoption of facility management services to enhance safety & hygiene across the healthcare sector, especially after the advent of Covid-19 in 2020, is a prominent trend projecting significant expansion of the USA Facility Management Market through 2027.
A. The outsourced operating model is anticipated to emerge as an area of remunerative opportunities for the leading players in the USA Facility Management Market in the coming years.