Digital Transformations and Automation for Facility Management
How society, demographics and technology are changing the world of FM.
The accounted global facility management market size in 2019 was 1.24 trillion USD and is predicted to reach 1.62 trillion USD by 2027. This accounts for a 4.0% increase in the Compound Annual Growth Rate (CAGR).
Companies outsourcing Facilities Management
Several economic factors have made outsourcing more relevant for facilities management. Facilities management is ripe for disruption: it lags behind other functions such as production equipment maintenance by both digital maturity and penetration of technology. Although technology is available for facilities management, several obstacles have inhibited adoption, such as a lack of digital skills within the function, other priorities for leadership, and a focus on continuous cost cutting. These factors have made the facilities management outsourcing market attractive for leading vendors that were already engaged directly or indirectly with this function.
In Facility Management, the rapid pace of the technological growth have the potential to make everything easier, data-driven and automated. Digital Transformation has became essential for every market, even if it is…
