United States Facility Management Market Size (2024 - 2029)

United States Facility Management Market Analysis

The United States Facility Management Market size is estimated at USD 283.27 billion in 2024, and is expected to reach USD 380.34 billion by 2029, growing at a CAGR of 6.07% during the forecast period (2024-2029).

The surge in demand for various customized solutions for different in-house and outsourced facility management is one of the significant factors driving the growth of the facility management service market in the United States.

• The growing number of residential and commercial buildings in major cities is enhancing the overall need for facility management services throughout the country. With an increase in focus on integrated facility management services and the rising developments in the infrastructure, the market is expected to experience a positive impact.
• To comply with the changing technological age, tools like robot facility monitoring and augmented reality that are integrated with IoT are steadily increasing in the country. Hence, more and more software providers are now committed to innovation, making room for AI and robotics in the facility management market.
• In March 2023, ABM, a provider of facility services, infrastructure solutions, and parking management, signed a multi-year agreement to provide first-class housekeeping solutions and to manage day-to-day and event staffing for Tropicana Field and Al Lang Stadium. With this partnership, ABM would serve as a single source for deploying a professional workforce that is mainly dedicated to delivering janitorial services that augment the fan experience across over one million square feet of stadium space at the venues.
• According to the US Census Bureau, total construction spending in November 2023 was estimated at a seasonally adjusted annual rate of approximately USD 2,050.1 billion, up by 0.4% from October's revised figure of USD 2,042.5 billion. This rise in overall construction spending is expected to amplify the market's growth opportunities significantly.
• One of the key factors limiting the growth of this market is safety concerns related to device and network security. A growing number of security breaches and the increased threats posed by organized crime groups are expected to hamper the market's growth throughout the forecast period.

United States Facility Management Industry Segmentation

Facility management (FM) is a profession that incorporates a broad range of disciplines to ensure functionality, safety, comfort, and efficiency of the built environment by integrating people, processes, places, and technology. FM contributes to the business's bottom line through its responsibility for maintaining an organization's most significant and most valuable assets, such as property, equipment, buildings, and other environments that house personnel, productivity, inventory, and other elements of the operation. Facility management services involve the management of building upkeep, utilities, maintenance operations, waste services, security, etc. These services are further divided into hard facility management services and soft facility management services.

The US facility management market is segmented by type of facility management (in-house facility management and outsourced facility management [single FM, bundled FM, integrated FM]), offering type (hard FM and soft FM), and end-user (commercial, institutional, public/infrastructure, and industrial). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.