Technological advancements are the primary factors driving the growth of this market.
Good news for the Facility management sector; according to the The report “Facility Management Market by Solution, the global facility management market is expected to grow from USD 27.25 Billion in 2015 to USD 49.44 Billion by 2020. Technological advancements have significantly supported the facility management market to grow
Growth included solutions as asset management, space, EMS, maintenance management, facility management software solutions, project management & real estate portfolio management.
With the evolution of smart buildings and a more sophisticated working environment is pushing the technology to move towards the adoption of facility management software. New solutions include real-time cross functional data sharing abilities, cloud applications and mobile solutions that make the facility manager job easier and more efficient. Tech advancements are the primary factors driving the growth of this market.
All these advancements in FM technology ensure the optimized utilization of resources and assets, which ultimately reduces operational costs and enhances profitability. Solutions such as maintenance management, asset management, and real estate portfolio management and are the top growing solutions in this market.