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The facility management industry is expected to reach $47.5 billion in 2022, growing at a CAGR of 12.5 percent to reach $153 billion by 2032, according to Fact.MR.
Technology like data analytics, cloud computing and Industrial Internet of Things (IIoT) is largely driving the increase as more companies look for ways to better manage operational activities. Meanwhile, industry adoption of management services is forcing businesses to preserve sensitive information, enhance customer satisfaction and increase operational efficiency. Additionally, the continued development of new real estate and smart buildings is expanding the need for facilities management positions.
Key Takeaways from the report:
Mackenna Moralez is the associate editor of FacilitiesNet.
Schools building affordable housing to help retain teachers, staff.
The U.S. Attorney leading the suit alleges a recent renovation removed wheelchair seating and moved it to much worse seats.
ULI honors projects that show innovation in design, amenities, engagement, and economic impact in community