The GDP growth of the United States was 17,305 Billion constant 2010 USD, while Canada’s GDP growth in constant 2010 USD was 1,884 Billion in 2017 ~ World Bank
According to the world development indicators (WDI), the gross domestic product (GDP) of North America in 2010 was 16,583 Billion constant 2010 USD and increased to 19,194 Billion constant 2010 USD in 2017. The growing concern in the evaluation of investments & utilization of resources through optimistic approach combined with the rise in infrastructure and economic development is projected to fuel the growth of the facility management services market in North America by the end of 2023 by expanding at a noteworthy compound annual growth rate over the forecast period. The U.S. contributed the largest market share in terms of revenue as compared to Canada in overall facility management services market in North America and is further expected to behold its dominant stance during the forecast period.
The North America facility management services market is segmented into soft services and hard services, out of which, the hard services segment is estimated to hold the dominate share in the overall North America facility management services market during the forecast period. The economic development and maintenance requirement of the administrative assets is expected to supplement the growth of the North America facility management services market by reaching a valuation of around USD 451 Billion in terms of revenue by the end of forecast period.
Growing Demand for Building Management
With the rapid growth in the development of technology and persistent investment in building management, the North America facility management services market is expected to skyrocket in terms of revenue by the end of the year 2023. Additionally, better economic growth is believed to benefit the expansion of the market with notable revenue in upcoming years.
However, the approachability towards emerging technology is likely to hamper the growth of the North America facility management services market in the near future.
The report titled “North America Facility Management Services Market: Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the North America facility management services market in terms of market segmentation by services, by end-user and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the North America facility management services market which includes company profiling of Archibus, Johnson Controls Inc., Compass Group, Turner Facilities Management Ltd., ISS, Fluor Corporation, CUSHMAN & WAKEFIELD, Macro, Aramark Corporation, Carillion PLC, CB Richard Ellis and ABM Industries Incorporated.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the North America facility management services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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