Facility Management Market to Reach USD 2,284.8 Billion by 2032; Sodexo Acquired Nourish Inc. to Consolidate its Market Position

The global facility management market size stood at USD 1,277.8 billion in 2023. The market value is slated to rise from USD 1,315.7 billion in 2024 to USD 2,284.8 billion by 2032 at a CAGR of 8.2% during 2024-2032. Fortune Business Insights™ presents this information in its report titled, “Facility Management Market Size, Share & Industry Analysis, By Offering (In-House and Outsourced (Single Services and Bundled Services)), By Service Type (Hard Services (Mechanical, Electrical, Plumbing, and HVAC Maintenance, Energy Management, Asset Management, Offshore Facility Management, Others (Fire Protection Systems) and Soft Services (Janitorial and Sanitization, Office Support Services, Housekeeping, Pest Control, Security and Guarding, Ground Maintenance, Others (Parking, Catering)), By Industry Vertical (Healthcare, Business & Corporate, Manufacturing, Government, Education, Military & Defense, Construction (Real Estate), Hospitality, and Others (IT & Telecommunication, BFSI), and Regional Forecast, 2024 – 2032”.

Facility management services deploy technology, including services and software, for helping enhance the management efficiency across various establishments. The soaring industrial development and urbanization are poised to drive industry expansion.

The COVID-19 pandemic period registered an increasing awareness of security, hygiene, maintenance, and management. This escalated the product adoption by various organizations, boosting industry growth.

Sodexo Acquired Commissary Kitchen Model Nourish Inc. to Strengthen Market Position

In February 2021, Sodexo acquired commissary kitchen model Nourish Inc. The model assists employers in providing fresh meals to their employees working remotely. The move would help bolster the Sodexo’s presence. The deal would also open delivery options in various urban markets, comprising Washington D.C., San Francisco, Los Angeles, and New York.

Industry Value to Witness an Upward Trajectory Owing to Growing Development of AI-Integrated Services

The use of AI-powered facility management services helps leverage real-time data through a range of sources. These comprise energy consumption records, occupancy reports, IoT (Internet of Things) sensors, and maintenance logs. The insights also aid facility managers in effective decision making pertaining to resource allocation, preventive maintenance, and space utilization.

However, the occurrence of sustainability-related issues owing to lack of effective operational practices may hamper the facility management market growth.

Major Players Adopt a Range of Strategies to Increase their Market Share

Leading companies are keen to deploy numerous strategies to enhance their market share. They are partnering with tech-based businesses to provide advanced tech-integrated offerings. Companies are also investing in increasing their service capabilities to gain an edge over their competitors.

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https://www.fortunebusinessinsights.com/industry-reports/facility-management-market-101658

Key Players Profiled in the Report:

• Sodexo (France)


• CBRE Group, Inc. (U.S.)


• ISS A/S (Denmark)


• Compass Group (U.K.)


• Aramark (U.S.)


• Jones Lang LaSalle IP, Inc. (U.S.)


• Johnson Controls International plc. (Ireland)


• Cushman & Wakefield (U.S.)


• Dussmann Group (Germany)


• Tenon Group  (India)


• OCS Group International Limited (U.K.)


• EFS Facilities Services Group (UAE)


• Veolia Environment (France)


• American Facility Services Group (U.S.)

Key Industry Development

• March 2020 – Cushman & Wakefield entered an agreement for the acquisition of Réponse. The move would help bolster the company’s business in France.

Further Report Findings:

• Asia Pacific is poised to register a leading share of the market due to the escalating product demand from the hospitality, retail, education, healthcare, and manufacturing sectors.


• The Europe facility management market share is poised to expand impelled by increased emphasis on energy efficiency, sustainability, and compliance with strict regulations.


• On the basis of offering, the market is categorized into in-house and outsource offerings. The in-house segment is set to register the highest CAGR over the forecast period. This can be attributed to the increasing emphasis of organizations on adopting solutions that align with their objectives.


• Considering service type, the market for facility management is segregated into soft services and hard services. The hard services segment records a dominating share of the global market with rising urbanization globally.

Table of Segmentation