The increasing adoption of various disruptive new age technologies, such as analytics, cognitive computing, internet of things or IoT, augmented reality or AR, drones, and robots, is bolstering the growth in the global facility management market. Products offered by the players in the global facility management market aid the end users in identifying under-utilized as well as poorly performing assets, facilities, processes, and resources. Tools and solutions offered in the global facility management market also aid managers in enhancing the performance of their facilities and properties. Solutions in the global facility management market use various latest technologies such as artificial intelligence or AI, cloud computing, big data, and machine learning or ML, among others.
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Increasing demand for cloud based solutions is one of the major drivers for the global facility management market. These cloud based solutions in the global facility management market ae considered to be affordable and facilitate higher level of security, thereby allowing managers to reduce the expense of operational costs. Furthermore, the demand in the global facility management market is high, owing to various benefits provided by these solutions, such as quick recovery time in cases of disaster, enhanced security, secure hosting of critical and valuable personal data, and improved scalability.
Regionally, North America is anticipated to lead the global facility management market in coming years. This trend can be attributed to rapid and early adoption of various facility management services and solutions in the region. Some of the major players and manufacturers functional within the global facility management market include SAP, Planon, Causeway Technologies, FSI, UpKeep Maintenance Management, Facilio, Oracle, Axxerion USA, OfficeSpace Software, Archibus, IBM Corporation, Accurent, Service Works Global, Spacewell, Archidata, Facility ONE Technologies, eMaint, eFacility, iOFFICE, and MRI Software, among others.
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