Global Smart Facility Management Market by Component (Software, Sensors and Surveillance Component, and Services), Service (Professional Services and Managed Services), Type (Energy Management, Infrastructure Management, Property Management, and Security), and Region (North America, Europe, APAC, Middle East Africa, and Latin America) – Forecast up to 2025
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Overview of the Smart Facility and Intelligent Building Market
Infoholic’s market research report predicts that the global smart facility management market will grow at a CAGR of 18.0% during the forecast period 2019–2025. The market for smart facilities is primarily driven by the increasing demand for energy-efficient buildings among commercial constructions. The integration of smart building features with BAS or BMS and the lack of interest among facility owners to implement smart facility components are restricting the growth of the smart facility management market.
Smart facility management helps the enterprises to monitor and maintain the overall functioning of the building infrastructure with quick response to any system failure. Globally, enterprises are continuously focusing on a sustainable model for facilities to reduce the carbon footprint of their organization.
According to our smart facility management analysis, Europe accounts for the largest market share in 2019. With the presence of the highest number of technology innovators and market disruptors in this region, the adoption of smart facility management solutions is highest in Europe. Several enterprises in this region are focusing on enhancing the employee experience inside the facility and hence improve productivity. Asia Pacific is anticipated to witness the fastest growth rate due to increasing construction activities, pushing the smart facility management market growth, especially in India, China, Indonesia, and Australia.
Smart Facility Market Research Competitive Analysis and Key Vendors
The report covers and analyzes the smart facility management market. Major vendors across different verticals are planning for high investments in product development, and as a result, the smart facility management market is expected to grow at an impressive rate in the coming years. The key players in the market are adopting various organic as well as inorganic growth strategies, i.e., mergers & acquisitions, collaborations & partnerships, joint ventures, and few other strategies to be in a strong position in the market.
Few of the Key Vendors in the Smart Facility Management Market:
- Schneider Electric
- Johnson Controls
These companies are striving in the market sphere by acquiring clients across verticals, ranging from hospitality and food & beverages to IT and ITeS. For instance, Hilton Garden Inn, a hotel chain in Dubai, adopted Schneider Electric EcoStruxture Building Solution that integrates BMS, guest room management system, and property management system, providing optimal automation and efficiency with insights of room conditions and remote troubleshooting. Ritter Sport implemented Siemens new energy management system, and the company is focused on reducing its energy consumption by an additional 1.5% each year. The system integrates data from production systems with the building management systems to provide a holistic energy management system.
There are numerous other vendors that have been studied based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D for analysis of the entire ecosystem.
Smart FaciltyManagement Market Research By Component
- Sensors and Surveillance Component
The software segment is expected to grow at the highest rate during the forecast period 2019–2025.
Smart Facility Management Market Research By Service
- Professional Services
- Managed Services
The managed services segment is estimated to hold the largest market share in 2019, and this trend is likely to continue during the forecast period 2019–2025.
Smart Facility Management Market Research By Type
- Energy Management
- Infrastructure Management
- Property Management
The infrastructure management segment is projected to grow at the highest rate for driving better building experience, scheduled predictive maintenance, and monitoring.
Smart Facility Management Market Research Benefits
The report provides an in-depth analysis of the smart facility management market. Smart facility management combines various technologies of analytics, mobility, cloud, automation, and alarm systems to offer multiple innovative intelligent features in the facilities. By analyzing various energy-saving areas, intelligent features, and automated controls, smart facility management is expected to provide next-generation building experience. Vendors are focusing on reducing electricity bills, quick notifications to technicians for repairment, space management, and centralized control of buildings. For building a long-lasting and better management in case of hazards and natural calamities, facilities are looking to adopt smart facility management solutions. The report discusses the market in terms of component, type, and region. Furthermore, the report provides details about the major challenges impacting the market growth.
2 Industry Outlook
2.1 Industry Overview
2.2 Industry Trends
3 Market Snapshot
3.1 Total Addressable Market
3.2 Segmented Addressable Market
3.3 PEST Analysis
3.4 Porter 5 (Five) Forces
3.5 Related Markets
4 Market Characteristics
4.2 Market Trends and Impact
4.3 Market Segmentation
4.4 Market Dynamics
184.108.40.206 Increased use of data-enabled decision-making
220.127.116.11 Better connectivity and collaborative workplace
18.104.22.168 Automation of building maintenance systems and energy management
22.214.171.124 Changing regulatory and compliance scenario
126.96.36.199 Cost concerns in implementation
188.8.131.52 Technical disruptions in building management and automation
184.108.40.206 Enhancement in security monitoring of buildings
220.127.116.11 Tracking of Assets
4.4.4 DRO – Impact Analysis
5 Component: Market Size & Analysis
5.3 Sensors and Surveillance Component
5.4.1 Professional Services
5.4.2 Managed Services
6 Type: Market Size & Analysis
6.1 Energy Management
6.2 Infrastructure Management
6.3 Property Management
7 Region: Market Size & Analysis
7.1.1 Market Size and Analysis
7.2 North America
7.2.1 North America Smart Facility Management Market Revenue by Component
7.2.2 North America Smart Facility Management Market Revenue by Services
7.2.3 North America Smart Facility Management Market Revenue by Type
7.3.1 Europe Smart Facility Management Market Revenue by Component
7.3.2 Europe Smart Facility Management Market Revenue by Services
7.3.3 Europe Smart Facility Management Market Revenue by Type
7.3.7 Rest of Europe
7.4 Asia Pacific
7.4.1 Asia Pacific Smart Facility Management Market Revenue by Component
7.4.2 Asia Pacific Smart Facility Management Market Revenue by Services
7.4.3 Asia Pacific Smart Facility Management Market Revenue by Type
7.4.8 Rest of Asia Pacific
7.5 Middle East & Africa
7.5.1 Middle East Africa Smart Facility Management Market Revenue by Component
7.5.2 Middle East Africa Smart Facility Management Market Revenue by Services
7.5.3 Middle East Smart Facility Management Market Revenue by Type
7.5.4 South Africa
7.5.6 Rest of Middle East Africa
7.6 Latin America
7.6.1 Latin America Smart Facility Management Market Revenue by Component
7.6.2 Latin America Smart Facility Management Market Revenue by Services
7.6.3 Latin America Smart Facility Management Market Revenue by Type
8 Competitive Landscape
8.1 Competitive Comparison Analysis
8.2 Product Offerings
8.3 Market Developments
8.3.1 Partnerships, Mergers and Acquisitions
8.3.2 Product Launches & Exhibitions
9 Vendor Profiles
9.1 Schneider Electric SE
9.1.1 Analyst Opinion
9.1.2 Business Analysis
9.2 IBM Corp.
9.2.1 Analyst Opinion
9.2.2 Business Analysis
9.3 Siemens AG
9.3.1 Analyst Opinion
9.3.2 Business Analysis
9.4 Johnson Controls International PLC
9.4.1 Analyst Opinion
9.4.2 Business Analysis
9.5 Honeywell International Inc
9.5.1 Analyst Opinion
9.5.2 Business Analysis
9.6 Cisco Systems, Inc.
9.6.1 Analyst Opinion
9.6.2 Business Analysis
9.7.1 Analyst Opinion
9.7.2 Business Analysis
9.8.1 Analyst Opinion
9.8.2 Business Analysis
9.9 ICONICS, Inc.
9.9.1 Analyst Opinion
9.9.2 Business Analysis
9.10 Yardi Systems, Inc.
9.10.1 Analyst Opinion
9.10.2 Business Analysis
10.1 Report Scope
10.2 Research Methodology
10.2.1 Data Collation & In-house Estimation
10.2.2 Market Triangulation
10.3 Report Assumptions
Infoholic Research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:
- Data Collation (Primary & Secondary)
- In-house Estimation (Based on proprietary data bases and Models)
- Market Triangulation
Market related information is congregated from both primary and secondary sources.
Involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.
Include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.