Hyderabad, July 24, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “United Kingdom Facility Management Market Report (2023-2028),” the market is estimated at USD 68.16 million in 2023. It is expected to register a CAGR of 1.65% during the forecast period.
With respect to maturity and sophistication, the United Kingdom is one of Europe's most stable and sophisticated markets for facility management services. With the increasing penetration of facility management services, contributors are actively focusing on specialized services to obtain a foothold in the industry. The market has seen many changes owing to the region's macroeconomic and social changes.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 68.16 billion |
| Market Size (2028) | USD 73.97 billion |
| CAGR (2023-2028) | 1.65% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Soaring interest in establishing smart buildings and IoT technologies |
| A surge in the business acumen among industry providers and the diversification of the economy from various industries. |
Who are the Top Companies in the United Kingdom Facility Management Market?
The market is fragmented as it is a highly competitive market with numerous players of different sizes.
The key players in the UK facility management market are:
- CBRE Group Inc.
- Mitie Group PLC
- EMCOR Facilities Services Inc.
- Atlas FM Ltd
- Andron Facilities Management
- ISS UK
- JLL Limited
- Serco Group PLC
- Kier Group PLC
- Amey PLC
- Atalian Servest
- Sodexo Facilities Management Services
- Compass Group
- Engie Facility Management (Engie SA)
- Vinci Facilities Limited
- Aramark Facilities Services
Other Reports That Might Be of Your Interest:
- South Africa Facility Management Market Report - The South African facility management market size is estimated at USD 10.44 billion in 2023 and is expected to reach USD 13.09 billion by 2028 at a CAGR of 4.62% during the forecast period (2023-2028).
- Asia-Pacific Facility Management Market Report - The Asia-Pacific facility management market size is expected to grow from USD 515.32 billion in 2023 to USD 670.95 billion by 2028 at a CAGR of 5.42% during the forecast period (2023-2028).
Key Highlights from the United Kingdom Facility Management Market Report:
Single FM Service to Witness Significant Growth
- Running a single facility management service principally delegates task management to separate entities. It also demands having a different service provider for each service the organization requires, such as cleaning, reception, and vending machines. Using the services of specialized service providers incorporates several advantages.
- It allows clients to concentrate on their core business, while single-service providers offer adequate customer services and ease operational efficiency. Experts handling task management results in higher efficiency and service quality. It also allows company employees to focus on the most crucial business sections while saving resources for non-core activities.
Commercial End-user Sector to Account for Major Market Growth
- Office buildings occupied by providers of business services, involving manufacturers' corporate offices, IT and communication companies, and other service providers, are mainly referred to as the commercial end-user sector. The overall supply of commercial building decoration, essential interior fittings, and management is growing in importance, pushing the region's commercial sector market.
- Furthermore, the market suggests several opportunities for vendors to implement and execute various IoT-based facility management and augment the development of smart buildings within the United Kingdom.
What are the Latest Developments in the United Kingdom Facility Management Market?
- In October 2022, Kier was elected by NHS Ayrshire & Arran to develop Foxgrove, a facility for mental health in Irvine at Ayrshire Central Hospital.
- In September 2022, the BBC extended its facilities management contract with Mitie for a further two years. Mitie aims to continue to deliver an extensive range of facilities management services across the organization's general property portfolio.
Mordor Intelligence has Segmented the United Kingdom Facility Management Market Based on Facility Management Type, Offering Type, End-user, and Region:
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- By Facility Management Type
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- Inhouse Facility Management
- Outsourced Facility Management
- Single FM
- Bundled FM
- Integrated FM
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- By Offering Type
-
- Hard FM
- Building Services
- HVAC Services
- Mechanical, Electrical, and Plumbing Services
- Soft FM
- Hard FM
-
- By End-user
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- Commercial
- Institutional
- Public/Infrastructure
- Industrial
- Other End-users
-
- By Region
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- London and Southeast England
- Southwest England
- Midlands and East England
- North of England
- Rest of the United Kingdom
-
- By Facility Management Type
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the United Kingdom Facility Management Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Kuwait Facility Management Market Report - The Kuwait facility management market is expected to register a CAGR of 9.26% during the forecast period.
- GCC Facility Management Market Report - The GCC facility management market is expected to register a CAGR of 8.6% over the forecast period, owing to developments in countries such as the United Arab Emirates and Qatar.
- Saudi Arabia Facility Management Market Report - The Saudi facility management market size is expected to grow from USD 8.31 billion in 2023 to USD 13.48 billion by 2028, at a CAGR of 10.15% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
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