North America Facilities Management Market: Technological Advancements Expected To Boost Revenue Growth 2017 - 2024
The North America facilities management market features a high degree of fragmentation with top 10 companies holding a meager 10% share in the overall market, states Transparency Market Research (TMR) in a new report. The market is served by several international and regional players wherein price wars and efforts to forge long-term service contracts renders intense competition in amongst them. To sustain competition, companies are focusing on improving service quality, reduce the time involved to complete tasks, employ advanced cleaning and maintenance services, and roll out bundled services. As per the TMR report, the demand in the North America facilities management market is likely to translate into a revenue of US$610.21 by the end of 2024, expanding at a healthy CAGR of 13.6% between 2017 and 2024. The opportunities in the market translated into a revenue of US$248.87 bn in 2017. Of the key service types, soft services segment currently holds the dominant ...