According to a recent report by Transparency Market Research on Facilities Management Market for france states that the country is witnessing a tough competitive landscape for the vendors. The competition is the result of emerging economy of the country which is allowing the businesses to incorporate technologies that can manage overall facilities of the building. Be it HVAC or occupancy sensing, the technologically advanced solutions are penetrating every domain of the workplace in the country as a result, the facilities management market in France is witnessing a consistent growth these days. Moreover, the demand for smart solutions to reduce the power consumption at the workplace is another factor that boosts the growth of the market in the region.
The Country to Contribute US$ 110.4 Bn for in the Growth of the Market
As per Transparency Market Research’s report, France facilities market is expected to generate US$ 110.4 bn by the end of 2024. This growth of the market in the country is attributed to growth of corporate culture and adoption technologies such as IoT machine learning, artificial intelligence, and data science. Moreover, there are numerous players that are developing solutions to capture the emerging market in the country, this is another factor that might result in such humungous revenue generation in the country.
According to the historical analysis of the facilities management market in France, the market stood at US$ 48.02 bn at the end of 2015. This implies that the market is expected to exhibit 9.80% CAGR during the forecast period of 2016 to 2024.
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Demand for Better Security Solutions Drives Revenue
According to the expert analysis of the facilities management market in France, the rising demand for better security services is major factor that drives the growth of the market in the country. Since the country’s economy is stabilizing with every passing day, organizations are capable enough to spend a considerable amount in tightening the security of the assets at workplaces. This rise in disposable income of the people of the country is the gaining major traction these days, as a result France is experiencing robust growth of facilities management market during the forecast period of 2016 to 2024.
Standardization of Services Fuels the Growth of the Market
Outsourcing is one of the prominent reason that is propelling the growth of facilities management market in France. As a result of outsourcing of services, it has become mandatory to maintain some sort of standards to keep the quality of the service intact. This demand for high quality of outsourced service is another factor that is driving the growth of facilities management market in France. Moreover, businesses in the country are getting aware of the benefits they can leverage through service outsourcing. This growing awareness is yet another factor responsible for the growth of facilities management market in France.
Additionally, the flexibility a business can avail through outsourcing the services is also a driving factor for the growth of facilities management market in France.
Hotel and Leisure Domains Lure Substantial Revenue
Service based industries like hotels are prominent revenue generators for the facilities management market in France. Since France is one of the most famous tourist destinations, it has multiple hotels and restaurants that call for substantial man-power. These domains are strong contender that can account for substantial growth of the facilities management market in France during the forecast period of 2016 to 2024.
The study presented here is based on a report by Transparency Market Research (TMR), titled, “Facilities Management Market (Service – Facility/Property Management, Cleaning services, Security services, Property Services, Catering services, Support services, Hygiene & prevention and Logistics & production; Service Sourcing – In-house Services and Outsourced Services; Industry – Pharmaceuticals, Health Care, Business Services and IT, Public Administration, Industry and Manufacturing, Hotel, Leisure, and Entertainment, Retail and Wholesale, Energy & Resources, Food and Beverages, and Transportation and Logistics) – France Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”
The France facilities management market is segmented on the basis of:
- Facility/Property Management
- Security Services
- Property Services
- Catering Services
- Support Services
- Hygiene & Prevention
- Logistics & Production
- Service Sourcing
- In-house Services
- Outsourced Services
- Health Care
- Business Services and IT (Corporate)
- Public Administration (Government and Public Sector)
- Industry and Manufacturing (Manufacturing)
- Hotel, Leisure, and Entertainment
- Retail and Wholesale (Retail and Commercial)
- Energy & Resources
- Food and Beverages
- Transportation and Logistics
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