United States Facility Management Markets Reprot 2023-2028: 2026 Men's FIFA World Cup Spurs Investments, Los Angeles Gears Up for 2028 Summer Olympics

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Dec 08, 2023, 10:30 ET

DUBLIN, Dec. 8, 2023 /PRNewswire/ -- The "United States Facility Management Market Competition Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.

The United States Facility Management market is anticipated to reach a value of $345.55 billion by 2028 from $209.69 billion in 2022, growing at a CAGR of 6.9%

Growing interest of governments of several countries in investing in infrastructure development, especially in the construction of railways, ports, airports and many other infrastructures, is boosting the growth of the facilities management software market. Numerous collaborations with some private contractors and various government projects with international players are also expected to boost the market growth.

Facilities management is basically divided into two areas: hard facilities management (hard FM) and soft facilities management (soft FM). Hard facilities management deals with physical assets such as heating and cooling, elevators, and plumbing, while soft facilities management deals with human-performed tasks such as lease accounting, catering, security, groundskeeping, and custodial services. Facility management software helps businesses manage their entire repair and maintenance operations from her web-based panel.

Government projects to propel the demand

As a part of united bid which features United States, Mexico & Canada to jointly host the 2026 Men's FIFA World Cup. Out of the 16 venues in the North American continent for the world cup, 11 of them lie in the US. None of the stadiums that hosted the 1,994 World Cup in the US will be used for the 2026 edition. Moreover, Miami, one of the hosts for the World Cup shall be provided with USD 5 million from Enterprise Florida for preparing the city for the mega event. As investments are set to be in millions of dollars, it is expected to thrive the facility management market in the country.

United States will host Summer Olympics 2028 at Los Angeles after winning the bid in the year 2016. It is estimated that the total cost of spending for the games will be around USD 6.9 billion. The government has already started work on transportation projects including Airport Metro Connector connecting the Metro system to the Los Angeles International Airport (LAX) and the Metro D (Purple) Line which will be nearby to the Games Village.

The last time Los Angeles hosted the games was in 1,984, so the city needs a much new and upgraded infrastructure in comparison to the last time. As Olympic games are expected to have athletes from around 200 countries along with their spectators, demand for facility management is expected to rise during the forecast period.

In the year 2021, US had announced to release a whopping amount of USD 1.2 trillion as a part of its infrastructure package. Under this package, new infrastructure projects and upgradation of the existing ones shall be announced related to airports, metro and rail projects. These new projects are expected to propel the facility management in the forecast period.

Latest Trends in United States Facility Management Market

In the year 2019, CBRE has launched Plans Pro. It is an enterprise Software-as-a-Service (SaaS) Testfit 3D visualization tool that helps large enterprise users make better and faster decisions related to new and existing spaces with custom design criteria. Plans Pro is designed for professional users and can be used across all industries and property types, including office, industrial, retail, and healthcare. Plans Pro offers a wide range of integrated contract-based services, including facility management, project management, transaction management and management consulting.

Increase in Cybercrime

Security concerns related to device and network security are among the factors restraining the market growth. Increased security breaches and growing threats from cybercriminal groups have created skepticism and hindered the growth of the market. at risk of being damaged.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the United States Facility Management market.

CBRE Group,Inc.
Cushman & Wakefield PLC
Sodexo, Inc.
Jones Lang LaSalle Incorporated
Emeric Facility Services
ISS Facility Services, Inc.
Guardian Service Industries, Inc.
SMI Facility Services
Shine Management & Facility Services
AHI Facility Services, Inc.

Report Scope

Price Point Analysis (Cost of Spending in United States)

Plumbing
Painting
AC Service
Electrical Service
Pest Control
Masonry Service

United States Facility Management Market, by Service:

Property
Cleaning
Security
Support
Catering
Others

United States Facility Management Market, by Type:

Hard Services
Soft Services

United States Facility Management Market, by Industry:

Organized
Unorganized

United States Facility Management Market, by End User:

Commercial
Residential
Industrial
Public Sector

United States Facility Management Market, by Sectors:

Education
Healthcare
Real Estate
Banking
Hospitality
Housing
Others

United States Facility Management Market, by Region:

South
West
Mid-West
North-East

For more information about this report visit https://www.researchandmarkets.com/r/l83yds

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