by Rebecca Walker — April 22, 2011—The facilities management market is forecast to reach $395 billion by 2017, says a report from Global Industry Analysts, titled Facilities Management: A Global Strategic Business Report.
Although the current global recession has thrown a temporary dampener on growth patterns, Global Industry Analysts predicts the facilities management market will gain momentum as the world economy recovers, bringing with it a growing emphasis on modernization of office spaces, the continued trend towards outsourcing, and revival in construction and the real estate industries.
According to the report, facilities management provides advantages including economies of scale, and efficient management of facilities and assets. One of the strongest arguments for facilities management is that it takes the burden of peripheral activities off the shoulders of business executives, allowing them to give more attention to core business.
Though the recession prompted companies to cut back, trimming facilities management contracts to smaller values and quicker turnaround times, it did not push the growth rates of global facilities management to red, says the report. The main reason is the need to curtail costs in an unfavorable business environment was overridden with the need to develop a platform for future growth.
For more information, see the Global Industry Analysts Web site.
