France Facilities Management Market: Snapshot
With the rising trend of outsourcing of services, France is expected to witness lucrative opportunities in the Facilities Management Market over the forthcoming years. Expanding at a healthy CAGR of 9.80% between 2016 and 2024, the opportunity in the France facilities management market is likely to increase from US$48.02 bn in 2015 to a value of US$110.42 bn by the end of the forecast period.
The increasing adoption of outsourced services and the augmenting demand for standardization of these services are projected to act as the key driving factor behind the growth of the market for facilities management in France over the next few year.
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Demand for Support Services to Remain Strong
Hygiene and prevention, security, support, cleaning, catering, property, facility/property management, and logistics and production are the main services offered by the players operating in the market for facilities management in France. Among these, the support services segment is likely to increase at the most prominent growth rate in the coming years due to the increasing need for maintenance and support services in various industries.
The security services segment, which has been leading the overall market, is expected to maintain a strong rise in this market, retaining its dominance over the forecast period. This imminent growth in the demand for security services can be attributed to the escalating need for manned guarding and to access control services across a number of industries in France.
Other facilities management services, such as catering services, cleaning services, and hygiene and prevention services will also see a healthy progression in their adoption in coming years.
Business Services and IT to Emerge as Key Contributor to France Facilities Management Market
Facilities management services find a widespread application in the pharmaceuticals, business services and IT, healthcare, food and beverages, industry and manufacturing, public administration, hotel, leisure, and entertainment, energy and resources, retail and wholesale, and transportation and logistics sectors in France.
Of these, the business services and IT sector has emerged as the key contributor to this market and is expected to remain so, rising at a CAGR of 10.60% during the forecast period. The increasing focus on the sustainable environment in businesses across France and the growing importance of technological advancements in medical and healthcare industries are the key driving forces behind the increased adoption of facilities management services in the business services and IT segment in this country.
Apart from this, the hotel, leisure, and entertainment segment, which held the second position with nearly 11.7% of the overall market in 2015, is also projected to provide lucrative growth opportunities to facilities management services vendors in France over the next few years.
The growing uptake of linen management, cleaning services, catering, and maintenance and logistic services in the hotel, leisure, and entertainment industry is likely to reflect positively on the overall growth of the France market for facilities management.