KEZI shared a press release in February with the headline - Facility Management Market Will Reach 56.67 Billion USD by 2021. That's a lot of zeros, but what does that mean?
According to the report:
1) Facilities management includes - asset and inventory, workplace & relocation, strategic planning & project, sustainability, real estate & lease, maintenance, as well as space reservation and incident management.
2) The facility management market is estimated to grow from USD 28.90 Billion in 2016 to USD 56.67 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 14.42%. Maintenance management is expected to witness the highest CAGR during the period 2016 to 2021.
"The major forces driving the facility management market are the emergence of cloud-based solutions. Cloud-based platform allows easy process integration, effective energy utilization, and real-time tracking with inherent safety and security features. The facility management market is growing rapidly because of the increasing number of end users opting for high-business performance and efficient business decisions."
What does this mean for your organization as well as your facilities, maintenance and risk departments?
Does this mean we are all getting raises if we are professionals who are serving to protect assets through preventative maintenance as well people in the facilities management umbrella to keep business flowing?
Press Release Distributed by ABNewswire.com
To view the original version on ABNewswire visit: Facility Management Market Will Reach 56.67 Billion USD by 2021
LFMC Articles in trade publications
Business Coaching & Consutling