Market Size of Norway Facility Management Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.76 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Norway Facility Management Market Analysis
The Norway Facility Management Market was valued at USD 9.0 billion the previous year and is expected to register a CAGR of 2.76%, reaching USD 10.53 billion by the next five years. Facility management consists of multiple factors that influence the productivity and efficiency of organizations. The new management system standard, conforming with the industry practices, constitutes a benchmark for developing and driving effective strategic, tactical, and operational FM principles across Norway.
- Facility management (FM) includes management methods and techniques for building management, infrastructure management for an organization, and overall harmonization of the work environment in an organization. This system standardizes services and streamlines processes for an organization.
- Tech innovations in facility management are expected to drive significant growth in the Norway market by improving efficiency, reducing costs, enhancing user experiencing, and aligning with the country's focus on sustainability. As technology continues to evolve, innovations will likely emerge, further shaping the facility management landscape in Norway.
- As the workplace environment evolves, facility management will remain critical for businesses in Norway to enhance productivity, employee satisfaction, and operational effectiveness. By adapting to changing needs of organizations and leveraging innovative technologies, the facility management market in Norway is likely to experience sustained growth driven by this renewed emphasis on workplace optimization and productivity.
- Diminishing profit margins and ongoing macro-environment changes restrain the country's market growth. While sustainability was gaining importance in the facility management market, a decreased emphasis on environmental issues may have impacted workplace optimization efforts.
- With the implementation of lockdowns and social distancing measures during the COVID-19 pandemic, many businesses in Norway transitioned to remote work or adopted flexible work arrangements. This shift reduced the immediate demand for on-site facility management services, as fewer employees were in physical workplaces.
- The COVID-19 pandemic accelerated the adoption of technology in facility management. Post-COVID-19, facility managers are likely to continue leveraging digital solutions for remote monitoring, contactless operations, and data analytics to enhance efficiency and reduce physical interactions.
Norway Facility Management Industry Segmentation
Facility management (FM) services involve building upkeep, utilities, maintenance operations, waste services, security, etc. Hard facility management services and soft facility management services further segment these services. The adoption of FM solutions and services is likely to be driven by several factors, including an increase in demand for cloud-based FM solutions and a rise in demand for FM systems linked to intelligent software.
The Norway Facility Management market is Segmented by Offering Type (In-house Facility Management, Outsourced Facility Management), Service Type (Hard Facility Management. Soft Facility Management), and End-User (Commercial and Retail, Institutional, Infrastructure and Public Entities, Industrial and Manufacturing). The market sizes and forecasts are provided in terms of value in USD for all the above segments.
| By Offering Type | |
| In-house Facility Management | |
| Outsourced Facility Management |
| By Service Type | |
| Hard FM | |
| Soft FM |
| By End-User | |
| Commercial and Retail | |
| Institutional | |
| Infrastructure and Public Entities | |
| Industrial and Manufacturing | |
| Other End-Users |
Norway Facility Management Market Size Summary
The Norway facility management market is poised for steady growth, driven by the increasing need for efficient management of organizational infrastructure and work environments. This sector encompasses a range of services aimed at enhancing productivity and operational efficiency within organizations. The adoption of new management system standards, aligned with industry practices, is setting benchmarks for strategic, tactical, and operational principles across the country. As technological innovations continue to evolve, they are expected to play a pivotal role in driving market expansion by improving efficiency, reducing costs, and aligning with Norway's sustainability goals. The emphasis on workplace optimization and productivity is further propelling the demand for facility management services, despite challenges such as diminishing profit margins and macro-environmental changes.
The market landscape is characterized by a moderate level of fragmentation, with key players like ISS Facility Services, Toma Facility Services AS, Coor Service Management, CBRE Group, and Ability FM actively engaging in partnerships and acquisitions to enhance their service offerings. The commercial and retail sectors are witnessing increased demand for facility management services due to the rise in non-residential building construction and development. This growth is further supported by the increasing interest in smart buildings and IoT technology, which presents opportunities for manufacturers to implement advanced facility management solutions. The market's expansion is also fueled by the growing occupancy of residential and commercial spaces, necessitating better management of facilities to ensure their efficient operation and maintenance.
Norway Facility Management Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power Of Suppliers
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1.2.2 Bargaining Power Of Buyers
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1.2.3 Threat Of New Entrants
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1.2.4 Threat Of Substitutes
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1.2.5 Intensity Of Competitive Rivalry
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1.3 Impact of COVID-19 On the Industry
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2. MARKET SEGMENTATION
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2.1 By Offering Type
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2.1.1 In-house Facility Management
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2.1.2 Outsourced Facility Management
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2.2 By Service Type
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2.2.1 Hard FM
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2.2.2 Soft FM
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2.3 By End-User
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2.3.1 Commercial and Retail
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2.3.2 Institutional
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2.3.3 Infrastructure and Public Entities
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2.3.4 Industrial and Manufacturing
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2.3.5 Other End-Users
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Norway Facility Management Market Size FAQs
What is the current Norway Facility Management Market size?
The Norway Facility Management Market is projected to register a CAGR of 2.76% during the forecast period (2024-2029)
Who are the key players in Norway Facility Management Market?
ISS Facility Services, Toma Facility Services AS, Coor Service Management, CBRE Group and Ability FM are the major companies operating in the Norway Facility Management Market.
