Study: Facility-Management Market Worth US$1.12 Trillion Annually

The annual worth of the global facility-management market is an estimated US$1.12 trillion, according to a study recently shared by IFMA and Global FM.

The annual worth of the global facility-management (FM) market is an estimated US$1.12 trillion, according to a detailed study recently shared by the International Facility Management Association (IFMA) and Global FM.

“The most compelling visions of the future include smart buildings and cities that require smart professionals to run them,” IFMA President and Chief Executive Officer Tony Keane said. “The demand for facility services is growing globally and independently of regional variations in the current levels of FM-market development. To meet these increasing demands, many FM professionals are turning to the landmark IFMA-Royal Institution of Chartered Surveyors (RICS) collaboration to unify and advance FM across the globe.”

The study offers in-depth FM-market analysis for 33 countries distributed between Africa, Asia-Pacific, Europe, the Middle East, North America, and South America. Among the findings are that the FM industry remains the most developed in Europe and North America while tremendous opportunities can be found elsewhere if regional challenges can be met. These challenges include an undersupply of labor and FM-industry fragmentation.

In April, IFMA and RICS announced a collaboration to address both of these challenges by supporting unification through a shared career map, research and information, and FM training opportunities.

The study can be downloaded by IFMA members for free here: http://community.ifma.org/knowledge_library/m/premium_content/1057514.

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