Increasing outsourcing of FM services by organized players, growing influence of foreign real estate players and rising number of favorable government initiatives to fuel Canada facility management market through 2023
According to TechSci Research report “Canada Facility Management Market By Service, By Application, By Spending Pattern, By Market Penetration, Competition Forecast & Opportunities, 2013 – 2023’’, the facility management market in the country is forecast to reach around $ 40 billion by 2023. In 2017, more than 580 organized players were engaged in providing facility management services in Canada, and these players cumulatively accounted for a market share of more than 80% in the country’s FM market in the same year. Moreover, growing influence of foreign players in the country’s real estate market, increasing demand for sustainable facility management solutions, rising number of favorable government initiatives directed towards Canada’s service sector, are anticipated to be the primary factors driving Canada facility management market over the coming years.
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“Canada Facility Management Market”
CBRE Group, BGIS, Carillion Canada, JLL and Cushman & Wakefield are the key facility management providers in Canada. Cleaning and property facility management services are likely to capture the dominating share in the country’s facility management market during the forecast period, backed by booming real estate sector in Canada. Ontario accounts for the largest share in Canada facility management market, due to the presence of huge population and highest number of commercial, industrial and residential buildings in the region.
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“As of 2017, Canada facility management market has been majorly dominated by the residential application segment, owing to strong demand for cleaning and property services, such as building maintenance, HVAC maintenance, etc. As the country is seeking to reduce its dependence from natural resources to non-oil based sectors, such as real estate, demand for facility management services is expected to grow over the coming years”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Canada Facility Management Market By Service, By Application, By Spending Pattern, By Market Penetration, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of the Canada facility management market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the Canada facility management market.
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