George Eritsyan

Integrated Facility Solutions (IFS) is a set of services that can help a business improve its facilities. These services include maintenance, energy, environmental sustainability, and project management. They are deployed in various industries and can be deployed on-premise or in the cloud.

Thanks to technological advancements, the Integrated Facility Solutions market is expected to continue its growth trajectory in the coming years. Increasing adoption of cloud-based software, digitalization, and the Internet of Things (IoT) technologies are driving growth in this market. These technologies help companies automate repetitive operations and increase their operational efficiency.

The IFM market is segmented into large enterprises and small and mid-sized enterprises (SMEs). By 2021, large enterprises will account for about 79% of the global market and will create US$ 268.9 billion in total market size by 2031. Integrated facility management solutions can help businesses improve operational efficiency and reduce operating costs. They can also help organizations improve their workforce productivity and reduce downtime.

In terms of revenue, the Integrated Facility Management market is expected to grow at a CAGR of 4.3% through 2031. By region, the demand for IFM services will increase in the Asia Pacific, the U.S., Europe, Latin America, and the Middle East.

According to research by the International Monetary Fund and World Bank, the global Integrated Facility Solutions market is expected to reach USD 41.7 billion by 2028. The Asia Pacific region is projected to be the largest market in the coming years. However, North America is expected to grow at a CAGR of 4.2% over the period 2021 to 2031.

A growing trend in IFM solutions is cloud-based solutions. They help businesses reduce operating costs, secure data, and quickly recover servers. These solutions also allow users to access information from any location. The cloud-based services also help organizations to manage after-hours workers and outsourced services.

The global Integrated Facility Management (IFM) market is predicted to reach USD 24540 million in 2027. Several key factors will affect the market. These include regional trends, regional opportunities, and the number of vendors. The report also provides an analysis of key players and fundamental market dynamics.

Several major players in the market are involved in the development of integrated facility solutions. These companies include IBM, Oracle, SAP, and Trimble. The top players in the market are listed below. There is a growing need for integrated facility management solutions in the IT & telecom industry. As a result, the IT & telecom segment expects to hold the largest market share in 2020 and is expected to grow at a CAGR of 5.7%.

In addition to technology, the industry is also experiencing challenges. The recent outbreak has affected different industries worldwide. Many countries implemented lockdowns and social distancing norms to contain the outbreak. This epidemic has affected facilities management and the overall market. This has led to a decline in facilities management services, which is expected to improve by mid-2021.

Augmented and virtual reality are emerging technologies that can be used in facility management. While these technologies are still in their infancy, they can help companies reduce operating expenses by providing real-time insights. Additionally, cloud-based solutions can help companies protect their data from cyberattacks and provide greater convenience.

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