SpendEdge, a global procurement market intelligence firm, has announced the release of their Global Facilities Management Services Category Procurement Market Intelligence Report
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Global Facilities Management Services Category Procurement Market Intelligence Report. (Graphic: Business Wire)
The category spend momentum will be driven by the cumulative effect of factors like the increasing adoption of web-based technological platforms, the establishment of multinational projects, the alliance between integrated facilities management (IFM) vendors and IT and telecom companies, and other critical growth drivers. In recent times, property management services, a subcategory of the facilities management services is experiencing tremendous demand because of a boost in the real estate sector.
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In the US, high category demand from the end-user industries such as manufacturing and healthcare and availability of integrated service providers are contributing to the category growth. Current market trends reveal that the US is currently claiming more than 65% of the total market share. Organizations in APAC are widening their access to the global market which, in turn, is acting as a driving force for the facilities management services in the region. Factors like real-time monitoring of processes, high utilization of resources, and growing stringency of government regulations on waste management are compelling buyers in Europe to increase their spend on facilities management services.
This facilities management services procurement research report offers strategic insights into the global spend potential and the key suppliers. An analysis of the market trends will help buyers to improve their procurement process and support them in developing effective category management strategies. In this market intelligence report, the category spend is analyzed from the perspective of the buyers and the suppliers.
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"Partnering with such service providers with data management and analytical capabilities will facilitate better maintenance planning, budget forecasting, and long-term category planning activities," says SpendEdge procurement expert Tridib Bora.
This facilities management services procurement research report has estimated that the following cost drivers will influence the category growth in the following years:
- Rise in wages of facility managers will contribute to the category price growth
- Rise in labor costs will be a concern for service providers
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SpendEdge's procurement market intelligence reports for the facility management category provide detailed supply market forecasts and information on cost drivers that impact category growth. Such information will help procurement managers as well as the suppliers to determine the total cost of ownership and change their procurement strategies accordingly. Additionally, SpendEdge's reports provide category management insights and information on the procurement best practices for the category.
Report scope snapshot: Facilities management services
US market insights
- Supplier cost structure in the US
- Margins of suppliers in the US
- Category cost drivers
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- Procurement excellence best practices
- Procurement best practices
- Sustainability practices
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- Competitiveness index for suppliers
- Buyer power
- Supplier power score
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