Chile Facility Management Market Size (2024 - 2029)

Chile Facility Management Market Analysis

The Chile Facility Management Market size is estimated at USD 1.47 billion in 2024, and is expected to reach USD 1.81 billion by 2029, growing at a CAGR of 4.30% during the forecast period (2024-2029).

• The government-led construction initiatives in public infrastructure projects and the growing emphasis on green building practices are fuelling the demand for facility management in the country. Also, the rapid growth of the tourism industry is witnessing the increased demand for FM services in the country from the hotels, resorts, and accommodations facilities.
• Furthermore, the steady growth of commercial and industrial development is projected to support market growth, creating the need for both hard and soft services, as well as increased investor activity, cost control initiatives, adoption of sustainable practices, and technological advancements to contribute to the market growth.
• The low awareness of the benefits of integrated facility management is hampering the facility management market's growth. The presence of the local business environment is a significant challenge, leading them to shift from managing facilities from an in-house model to depending on professional firms.
• As part of expansion strategy from different sectors, several companies are expanding their international presence and establishing new offices. For instance, in April 2022, Globant, an IT and Software company, opened its new office in Santiago, with more than 3000 m2. Furthermore, the company planned to have three offices in the country by the end of the year.
• The pandemic also called for a renewed view on hygiene and has highlighted the need for FM services, such as cleaning, disinfecting, and sanitization. The demand for specialized area-based services has increased. Post-pandemic, as restrictions are being eased across the globe, FM players witness a significant rise in demand for professional sanitization and disinfection services from commercial entities.

Chile Facility Management Industry Segmentation

Facility management confines multiple disciplines to ensure buildings' functionality, comfort, safety, and efficiency by integrating people, place, process, and technology. While hard services include physical and structural services, such as fire alarm system lifts, among other services, soft services include cleaning, landscaping, security, and similar human-sourced services, providing a solution to end-user industries.

The Chile Facility Management Market is Segmented by Facility Management Type (In-house FM Service and Outsourced FM Service (Single FM, Bundled FM, and Integrated FM)), Offering Type (Hard FM and Soft FM), and End User (Commercial, Institutional, Public/ Infrastructure, and Industrial). The report offers the market size in value terms in USD for all the abovementioned segments. 

The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study also tracks the revenue accrued from various facility management types used in various end-user industries across Chile. In addition, the study provides the Chilean facility management market trends, along with key vendor profiles. The study further analyses the overall impact of COVID-19 on the ecosystem.