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Facilities Management Market size is set to grow by USD 826.91 billion from 2024-2028, Increasing demand for cloud-based facilities management solutions boost the market, Technavio

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NEW YORK, May 23, 2024 /PRNewswire/ — The global facilities management market size is estimated to grow by USD 826.91 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.61% during the forecast period.

For more insights on the forecast market size and historic data (2018 – 2022) – Request a sample report!

Facilities Management Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.61%

Market growth 2024-2028

USD 826.91 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.97

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 37%

Key countries

US, China, India, Germany, and France

Key companies profiled

ABM Industries Inc., Atlas Facilities Management Ltd., CBRE Group Inc., Coor Service Management Holding AB, Cushman and Wakefield Plc, International Business Machines Corp., ISS AS, Johnson Controls International Plc, Jones Lang LaSalle Inc., Mitie Group Plc, OCS Group International Ltd., Quess Corp. Ltd., Securitas AG, Serco Group Plc, ServiceMax Facility Management Pvt. Ltd., SIS Ltd., SMS Integrated Facility Services Pvt. Ltd., The Brinks Co., Aramark, and Sodexo SA

Market Driver

The facilities management market is experiencing significant growth due to the integration of IoT and Industry 4.0 technologies. IoT networks, comprised of sensors, thermostats, and actuators, enable data-driven decisions, enhancing performance and extending asset lifespan. Predictive maintenance, a key IoT application, uses real-time data for equipment condition monitoring, reducing operational costs and boosting productivity.

Facilities management encompasses hard services like HVAC systems, electrical installations, and plumbing, as well as soft services such as management and compliance. AI-Powered solutions streamline operations, ensuring quick response to emergencies and maintaining regulatory compliance. Investments in efficient facilities management contribute to organizational success, fostering employee satisfaction and retention. Outsourcing to specialized firms can optimize resources and enhance cost-effectiveness, promoting sustainability and industry growth.

Market Challenges

In the facilities management market, small organizations in growing economies confront significant budget limitations, compelling them to seek investment in strategic assets aligned with their organizational goals. Despite this, they may forego professional facilities management services from reputable providers, leading to subpar services. Consequences include increased maintenance and operational costs, negatively impacting profitability. Additionally, escalating labor costs, particularly in the North American region, hinder market expansion during the forecast period. To refine and optimize operations, organizations prioritize operational excellence, customer satisfaction, and innovation. Advanced technologies, such as AI-enabled solutions, predictive analytics, and automation, are adopted to streamline processes, promote sustainable practices, and enhance the overall client experience.SPIE and optimization measures are implemented to ensure superior technical facility performance, utilizing cutting-edge technologies and digital building operations for transparent energy control systems and hazard management. The transformative shift towards advanced facilities management practices aims to reduce costs, improve efficiency, and address client needs effectively.

Research report provides comprehensive data on impact of trend, driver and challenges – Request a sample report!

Segment Overview

Service1.1 Soft services1.2 Hard servicesEnd-user2.1 Commercial2.2 Government2.3 ResidentialGeography3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Soft services- In the Facilities Management Market, the service segment represents a significant investment and strategic asset in achieving organizational goals. This segment, which includes soft services such as housekeeping, transportation, catering, and security, refines and optimizes operational excellence by enhancing customer satisfaction and promoting innovation and improvement.

Soft services contribute to a superior facility environment, enabling businesses to streamline processes, adopt sustainable practices, and leverage advanced technologies like AI-enabled solutions, predictive analytics, and automation. These measures aim to optimize operations, reduce costs, and enhance the overall client experience.

The market for outsourced facilities management continues to grow and develop, with a transformative shift towards digital building operations, transparent energy control systems, hazard management, and optimization measures. SPIE, a leading player in this field, focuses on the adoption of cutting-edge technologies and management practices to meet client needs and improve efficiency.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Facilities Management (FM) market encompasses organizations that specialize in managing and optimizing the operational excellence of an entity’s physical assets. These firms focus on refining and improving efficiency, productivity, and cost-effectiveness in various industries through the implementation of advanced technologies and sustainable practices.

By offering management services for both hard services, such as maintenance and repairs, and soft services, like employee satisfaction and customer service, these solution providers contribute significantly to organizational goals. The FM industry’s growth is driven by the need for outsourcing non-core activities, the pursuit of strategic assets, and the desire for innovation and improvement to meet client needs. Sustainability and control are essential benefits of FM, ensuring long-term performance, service delivery, and adherence to industry growth.

Market Research Overview

The Facilities Management (FM) market encompasses the optimization and maintenance of physical workplaces and infrastructure. This includes operations such as real estate management, building maintenance, and essential services like security, catering, and cleaning. The FM industry leverages technology to improve efficiency and productivity, with solutions like Internet of Things (IoT) sensors, computerized maintenance management systems (CMMS), and building automation systems (BAS) gaining popularity.

The market is driven by factors such as increasing demand for energy efficiency, the need for workplace safety, and the growing trend towards outsourcing FM services. Additionally, the integration of artificial intelligence (AI) and machine learning (ML) technologies is expected to revolutionize the industry by enabling predictive maintenance and optimizing resource utilization.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ServiceSoft ServicesHard ServicesEnd-userCommercialGovernmentResidentialGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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CHASM Exclusively Licenses AgeNT® Express Transparent Conductive Film to Mativ for Heated Glass Solutions

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CANTON, Mass., Jan. 9, 2025 /PRNewswire/ — Chasm Advanced Materials, Inc. (CHASM) and Mativ Holdings (Mativ), manufacturer of Argotec interlayer films for high-performance glazing, have announced an exclusive licensing agreement. CHASM’s AgeNT® Silver Nanowire (AgNW) and Carbon Nanotube (CNT) hybrid performance film technology will be licensed to Mativ for transparent heating solutions in advanced glass and window applications across architectural, military, and transportation segments.

This licensing agreement marks another milestone in the long-standing collaboration between Mativ and CHASM, aiming to accelerate the commercialization of a portfolio of AgeNT® Express films.

David Arthur, CEO and co-founder of CHASM, highlighted the significance of this partnership. “Licensing our AgeNT® Express technology to Mativ marks a major milestone for both companies,” said Arthur. “With CHASM’s leadership in CNT technology and flexible electronics, and Mativ’s expertise in roll-to-roll (R2R) precision coating and vast market reach in glazing applications, this collaboration is a powerful step toward CHASM’s expansion into global non-automotive glazing markets.”

“This agreement marks a significant milestone in the continued growth of Mativ within innovative and emerging markets,” states Mativ President and CEO Julie Schertell. “By becoming a licensee of Chasm’s groundbreaking AgNW and CNT technology, we reaffirm our position as leaders in material science innovation. Together, we are unlocking new potential in advanced film applications across top industrial sectors.”

About CHASM
CHASM’s mission is to develop and manufacture advanced carbon nano materials, leveraging its innovative product platforms to create a safer, more connected and sustainable world. The company’s patented nanotube manufacturing platform combined with its unique ability to integrate CNTs into product solutions is unleashing the power of nanotechnology.

Innovations powered by CHASM include universal transparent heaters for safer driving and a broad range of non-automotive applications, transparent antennas for smarter cities, conductive additives for EV batteries, and cement additives for greener (lower carbon footprint) concrete. 

CHASM is building the world’s largest multiwall CNT reactor (1,500 metric tons annual capacity) in Norman, Oklahoma, to produce NTeC® products to support battery and cement applications.

AgeNT, NTeC, CHASM, and the CHASM logo are trademarks of CHASM Advanced Materials, Inc.

About Mativ
Mativ Holdings, Inc. is a global leader in specialty materials, solving our customers’ most complex challenges by engineering bold, innovative solutions that connect, protect and purify our world. Headquartered in Alpharetta, Georgia, we manufacture on three continents and generate sales in over 100 countries through our family of business-to-business and consumer product brands. The company’s two operating segments, Filtration & Advanced Materials and Sustainable & Adhesive Solutions, target premium applications across diversified and growing categories. Our broad portfolio of technologies combines polymers, fibers and resins to optimize the performance of our customers’ products across multiple stages of the value chain. Our leading positions are a testament to our best-in-class global manufacturing, supply chain and materials science capabilities. We drive innovation and enhance performance, finding potential in the impossible. To learn more, visit mativ.com.

To learn more about Argotec glass interlayer films, visit argotec.com.

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SOURCE CHASM Advanced Materials

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Hettich Achieves Remarkable Success with Innovative Quora Ads Campaign

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MUMBAI, India, Jan. 9, 2025 /PRNewswire/ — Hettich, a leading manufacturer of innovative furniture fittings, built-in appliances, and door hardware solutions, has achieved outstanding results through a recent advertising campaign on Quora. The campaign aimed to enhance brand awareness and engagement among homeowners, interior designers/architects, and OEMs/builders, by showcasing Hettich’s cutting-edge products in a unique and compelling way.

Hettich’s campaign leveraged Quora’s targeted advertising solutions to reach specific demographics interested in home improvement and design. By focusing on audiences actively seeking quality and innovative solutions, the campaign effectively resonated with potential customers.

The Hettich campaign resulted in impressive metrics, including a view-through rate of 44.55% and 18,598 clicks from over 1 million views. With 2,357,070 impressions, Hettich significantly expanded its reach, fostering awareness and interest in its furniture fittings, built-in appliances, and door hardware.

Hettich crafted visually stunning and emotionally engaging content that spotlighted the unique features of its products through captivating storytelling and immersive video formats. The campaign vividly illustrated the transformative power of Hettich’s innovative solutions, seamlessly turning everyday moments into extraordinary experiences within living spaces. “We believe in the magic of storytelling to break through the advertising clutter,” said Aditya Jalgaonkar, AGM-Marketing, Hettich India. “This campaign reflects our commitment to creating meaningful, high-quality content that connects with our audience in a profound way.”

“At Quora, we are dedicated to helping brands tell their stories effectively and meaningfully,” said Gurmit Singh, General Manager at Quora APAC and MEA. “Hettich’s campaign is a perfect example of how targeted advertising can drive engagement and connect brands with their audiences. We’re thrilled to see the impact of our platform on Hettich’s marketing efforts.”

The success of Hettich’s campaign showcases the effectiveness of utilizing Quora’s targeted advertising capabilities. This partnership illustrates how brands can engage potential customers and create lasting connections through innovative marketing strategies.

About Quora

Quora is a platform that has 100 million monthly unique visitors in India, where people come to share knowledge and insights. By connecting brands with engaged audiences through targeted advertising, Quora helps businesses tell their stories effectively and meaningfully.

Photo: https://mma.prnewswire.com/media/2593402/Hettich_Quora_Ads.jpg
Logo: https://mma.prnewswire.com/media/2443578/Quora_Logo.jpg

 

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NX Taiwan Offers Work Experience to China University of Technology Students

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TOKYO, Jan. 9, 2025 /PRNewswire/ — Nippon Express (Taiwan) Co., Ltd. (hereinafter “NX Taiwan”), a group company of NIPPON EXPRESS HOLDINGS, INC., conducted a two-day work experience program for students from the China University of Technology (hereinafter “CUTe”) on Saturday, November 30, and Sunday, December 1.

NX Logo: https://kyodonewsprwire.jp/img/202412252272-O3-CT0nRnRv 

Photos

Group photo of participants: https://cdn.kyodonewsprwire.jp/prwfile/release/M103866/202412252272/_prw_PI1fl_AD0GB6Wy.jpg 

Warehouse work experience: https://cdn.kyodonewsprwire.jp/prwfile/release/M103866/202412252272/_prw_PI2fl_FTH84m7K.png 

The work experience program is part of the NX Group’s efforts to actively communicate with local communities and engage in community-based social contribution activities, recognizing its social and public mission as a logistics company.

Eighty students enrolled in CUTe’s Department of Marketing and Logistics took part in the program at NX Taiwan’s NEXT1 warehouse in Taoyuan City, where they received briefings from NEXT1 staff on basic logistics knowledge, safety, and warehouse operations. Through a combination of classroom lectures and hands-on experience, the students learned in depth about how warehouse operations are carried out.

The participants found the program a valuable opportunity to expand their practical knowledge and understanding of the logistics industry, with one commenting: “This experience has given me a deeper understanding of warehouse management and logistics, and strengthened my desire to work in the logistics industry, where I can contribute to society in the future.”

The NX Group will continue to actively engage in social contribution activities on a global scale to help develop human resources who can play active roles in the logistics industry.

About the NX Group: https://kyodonewsprwire.jp/attach/202412252272-O1-tne94err.pdf 

NX Group official website: https://www.nipponexpress.com/ 

NX Group’s official LinkedIn account:
https://www.linkedin.com/company/nippon-express-group/ 

View original content:https://www.prnewswire.com/apac/news-releases/nx-taiwan-offers-work-experience-to-china-university-of-technology-students-302346527.html

SOURCE NIPPON EXPRESS HOLDINGS, INC.

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