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European facility management market
DUBLIN, Feb. 16, 2024 (Globe Newswire) — The “European Facility Management Market, Competition, Forecast, Opportunities, 2028” report has been added. ResearchAndMarkets.com Recruitment.
The European facility management market is expected to grow at a steady pace during the forecast period 2024-2028. Growing adoption of cloud-based solutions and changes in organizational culture and working methods are accelerating the European facilities management market. Due to this, the market is expected to register a high CAGR during the forecast period.
Expansion at a high CAGR in the European construction sector is likely to support the European facility management market in the coming years. Moreover, the gross value added of the construction sector in the EU is 5.5% of GDP. The European Commission’s goal is to help make the sector more competitive, resource efficient and sustainable.
Facilities management can be defined as the tools and services that support the functionality, safety, and sustainability of buildings, grounds, infrastructure, and real estate. He has two main areas of hard facility management and soft facility management. Hard FM deals with physical assets such as plumbing, wiring, elevators, heating and cooling. Soft FM focuses on human tasks such as warehouse services, rental accounting, catering, security, and garden maintenance.
Facility management consists of several elements that affect the productivity and efficiency of an organization. The new management system standard, aligned with industry best practices, will serve as a model for developing and managing effective strategic, tactical, and operational FM principles around the world. Services in the European FM market have become highly commoditized. Also, because end-use industries are highly price sensitive, contracts cover shorter periods. An oversupply of commercial real estate has put pressure on rental yields, leading customers to reduce the cost of FM services.
Rising investments in healthcare infrastructure and involvement of FM service providers in the construction cycle are the factors driving the market growth.
However, FM service providers’ late involvement in the construction cycle, or post-construction maintenance, was found to be decreasing. Asset management FM professionals are involved in the early stages of infrastructure development and provide FM consulting on preventive maintenance, asset life extension, and long-term contracts. Enova seeks digital omnipresence and customer service visibility for growth and modernization to support smart FM in Europe.
Increased investment in the construction of medical infrastructure and medical facilities has increased the demand for FM services. Nowadays, infrastructure has become an important part of providing health services to the public. As a result, more investments are being made in the development of health infrastructure around the world. Healthcare organizations are making significant investments in their facilities to provide improved healthcare services. However, the rise in data breaches and security threats has made it difficult to seek sufficient expertise.
According to a Honeywell study, 27% of property managers surveyed experienced a cyberattack on their OT systems in the past year, and 66% of respondents said maintaining operational technology (OT) cybersecurity is their top priority. answered that it was one of the most difficult tasks.
Report scope:
This report categorizes the European Facility Management market into following categories and also presents the industry trends which are detailed below:
Europe Facility Management Market, By Service:
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property
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cleaning
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safety
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support
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catering
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others
Europe Facility Management Market, By Type:
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hard service
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soft service
European Facility Management Market, by Industry:
European Facility Management Market, By End User:
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commercial
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Residential
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industrial
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Public institution
European Facility Management Market, by Sector:
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education
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health care
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real estate
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banking industry
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hospitality
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housing
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others
European Facility Management Market, By Country:
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Germany
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England
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France
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Italy
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Spain
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rest of europe
competitive environment
Company Profile: A detailed analysis of the key players present in the European Facility Management market.
Some of the companies mentioned in this report include:
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sodexo
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CBRE Group Co., Ltd.
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Compass Group Co., Ltd.
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ISS A/S
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johnson controls international plc
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dasman group
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Andron facility management
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G4S company
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veolia environment
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Serco Group PLC
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Engie FM Limited Cofely AG
For more information on this report, please visit https://www.researchandmarkets.com/r/wtjmzz.
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ResearchAndMarkets.com is the world’s leading source of international market research reports and market data. We provide the latest data on international and regional markets, key industries, top companies, new products and latest trends.
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