PUBLISHER: The Business Research Company | PRODUCT CODE: 1546590
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546590
Soft services facilities management encompasses the management and provision of non-technical services within a facility, aimed at improving comfort, cleanliness, and aesthetic appeal. These services contribute significantly to the overall well-being and operational efficiency of the facility.
The main types of soft services facilities management include office support and landscaping services, cleaning services, catering services, security services, and other soft FM services. Office support services involve administrative tasks such as reception duties, mail handling, and document management, while landscaping services focus on maintaining outdoor areas such as gardens and lawns. These services can be managed either in-house or outsourced, catering to a diverse range of end users including commercial enterprises, institutional facilities, public infrastructure, industrial sectors, and others.
The soft services facilities management market research report is one of a series of new reports from The Business Research Company that provides soft services facilities management market statistics, including soft services facilities management industry global market size, regional shares, competitors with a soft services facilities management market share, detailed soft services facilities management market segments, market trends and opportunities, and any further data you may need to thrive in the soft services facilities management industry. This soft services facilities management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The soft services facilities management market size has grown strongly in recent years. It will grow from 541.75 billion in 2023 to $587.95 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth during the historic period can be attributed to several factors, including pressures to reduce costs, globalization of markets, increasingly stringent health, safety, and environmental regulations, economic expansion in various sectors, and heightened expectations for improved service quality.
The soft services facilities management market size is expected to see strong growth in the next few years. It will grow to $817.28 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to increased awareness and emphasis on hygiene and cleanliness, a growing focus on sustainable practices in facility management, rising trends towards outsourcing of soft services, adoption of hybrid and remote work models, urbanization, and ongoing infrastructure development. Major trends expected during this period include the integration of technology into facility management practices, implementation of employee well-being and wellness programs, customization of service offerings to meet specific client needs, enhanced integration with hard services for comprehensive facility management solutions, and the adoption of data-driven decision-making processes to optimize service delivery and operational efficiency.
The soft services facilities management market is set to expand driven by a rapid increase in infrastructure development. This growth is fueled by heightened government investments and public-private partnerships aimed at stimulating economic growth and modernizing urban infrastructure. Soft services facilities management plays a critical role in supporting infrastructure development by ensuring the upkeep, cleanliness, security, and efficient operation of construction sites and completed projects. For example, the Office for National Statistics reported in November 2023 that annual construction new orders in the UK rose from $92,997 million (£72,578 million) in 2021 to $103,580 million (£80,837 million) in 2022, indicating sustained growth in the construction sector and thereby boosting demand for soft services facilities management.
Leading companies in the soft services facility management market are focusing on innovation to provide enhanced solutions, including comprehensive home services designed to deliver high-quality and cost-effective residential maintenance. Home services encompass a range of tasks such as cleaning, plumbing, electrical work, and landscaping aimed at maintaining and improving residential properties. For instance, Infracare Facilities Management launched Infracare Home Services in March 2023, offering tailored residential maintenance solutions with features such as round-the-clock customer support, skilled professionals, and customizable service packages to meet individual homeowner needs.
In November 2022, EMK Capital, a UK-based private equity firm, acquired a majority stake in Service Key S.p.A. This acquisition positions EMK Capital for growth and diversification within the facility management sector, leveraging Service Key's expertise in providing both soft and hard facility management services. Service Key S.p.A., headquartered in Italy, is recognized for its comprehensive facility management offerings tailored to meet the needs of diverse clients.
Major companies operating in the soft services facilities management market are Compass Group, CBRE Group, Johnson Controls International plc, Sodexo S.A, Jones Lang LaSalle Incorporated, G4S Secure Solutions, Allied Universal, Aramark, OCS Group, Ecolab Inc., Securitas AB, ISS World, EMCOR Group Inc., Updater Services (UDS), Cushman And Wakefield plc., Cintas Corporation, Mitie Group, Apleona HSG, Tenon Group, Continuum Services, Camelot Facility Solutions, Knight Facilities Management Inc., Entire Facilities Management, Spotless Group Holdings Limited, BESIX Group
Asia-Pacific was the largest region in the soft services facilities management market in 2023. The regions covered in the soft services facilities management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the soft services facilities management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The soft services facilities management market includes revenues earned by entities by providing services such as non-technical support services such as cleaning, security, landscaping, waste management, pest control, and catering. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Soft Services Facilities Management Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on soft services facilities management market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for soft services facilities management ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The soft services facilities management market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.