Greece Facility Management Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.79 Billion |
| Market Size (2029) | USD 1.98 Billion |
| CAGR (2024 - 2029) | 1.97 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Greece Facility Management Market Analysis
The Greece Facility Management Market size is estimated at USD 1.79 billion in 2024, and is expected to reach USD 1.98 billion by 2029, growing at a CAGR of 1.97% during the forecast period (2024-2029).
A number of factors, such as increased awareness about the importance of good facility management, increasing demand for outsourcing services and the need to reduce costs in both government and private sectors, have led to a steady growth on the Greek facilities management market.
- One of the key trends in the Greece facility management market is the growing focus on sustainability and energy efficiency. Greece's Businesses and organizations are increasingly seeking facility management services that can help them reduce their environmental impact, conserve resources, and achieve their sustainability goals. As a result, services such as energy audits, building automation, and others have seen an increase in demand.
- Another market trend is the increased use of technology. To improve efficiency and effectiveness, facility management companies are implementing new technologies such as IoT sensors, AI-powered predictive maintenance, and digital asset management platforms. This has helped to reduce costs, increase uptime, and improve overall service quality.
- New government policies such as the Greece 2.0 National Recovery and Resilience Plan (NRRP), new investments from private players and the government, as well as funding from organizations such as the European Union, increased investments in infrastructure projects, and growing industry sectors such as manufacturing and commercial end-user industry are some of the major drivers for the country's facility management market.
- However, the need for standardized regulations and certifications in the industry can make it difficult for businesses and organizations to choose the right facility management services provider. Moreover, a large number of smaller and mediumsized players compete for market shares in an intensely fragmented market.
- Further, facilities' ability to retain current clients or lose them to competitors depends on how well customers manage them. Management must comprehend how managing customer interactions may be used to improve the conditions of facilities as well as why customer experience influences facility management. The highest customer discontent levels correlate with poor service efficiency and cleanliness.
- The COVID-19 pandemic significantly impacted the Greece facility management market, with many businesses and organizations experiencing financial difficulties that made investing in facility management services more difficult. However, the pandemic also created new opportunities for facility management companies, particularly in hygiene and cleaning services.
Greece Facility Management Market Trends
Single FM of the Outsourced Facility Management Type to Hold Significant Market Share
- The rising installation costs of internal facility management teams and the challenging nature of overseeing a broad range of services are driving the surge in demand for outsourcing. Companies are under intense pressure to provide value to their clients, forcing them to continuously innovate and expand their core offerings to provide better customer services.
- As a result of increased expectations from both clients and staff, companies frequently reduce their non-core facilities management expenditure. These elements are anticipated to make outsourcing a desirable option. Outsourced FM offers Single, Bundle, and Integrated FMs.
- The outsourcing of FM services has been successfully used in different sectors, including the public sector, retail, professional services, healthcare, technology, logistics, manufacturing and education. The areas covered by FM services vary widely, in particular in terms of type, size of company and sector in which they operate. This is not a one size fits all approach. Some organizations will likely only require a single service solution provider, whereas other big organizations will look for a bundled services offering or complete facilities management solution.
- End-users in the country are shifting towards outsourced facility management services to gain expertise, allow staffing flexibility, and save time and cost. Therefore, outsourcing to certified third-party vendors has positively impacted the company's operational expenses.
- SMEs are the primary end users of single FM services in the country. According to the European Commission, in 2023, the country had approximately 22,26,746 Number of people employed by SMEs operating in Greece,. SMEs in the country represent a significant presence, one of the country's major end-users of single FM services.
Commercial Segment to Major Share in the Market
- In Greece, investment companies such as Knight Frank Greece usually specialize in the residential or commercial property market. Commercial buildings represent a promising area of investment in the region, as they offer rewarding opportunities and are often more profitable than other types of investments due to their ability to generate better cash flows. Consequently, this sector is expected to drive growth for the facility management market over the coming years.
- The country's economy has grown over the last few years, which is leading to an increased number of new construction projects like office buildings, shopping malls and housing developments. In order to support the operation of these facilities, which has led to an increased demand for complementary FM services.
- The expansion of the IT sector in the country will likely allow for more expansion in the commercial industry and facility management services. Intel Capital, Index Ventures, Accel, Andreessen Horowitz, Kleiner Perkins, Sequoia, BainCapital, and DFJ Greycroft have recently invested in three Greek startups. Major industry players such as Microsoft, Apple, Splunk, Amazon, Samsung, Teradata, Daimler, Citrix, Vmware, DellEMC, and Salesforce have acquired Greek startups.
- Moreover, the ICT sector in Greece offers several possibilities for investment in high-end, value-added facility management services with a global reach. The availability of skilled labor, strong IT and telecom infrastructure, and outstanding living and working conditions have boosted the ICT sector's demand for facility management services. Facility management offers several types of hard or soft benefits, including utilities, HVAC, and air quality, which are broad functions of facilities management.
- Furthermore, businesses look for significant cost reductions to focus on other core business activities. That can be achieved by outsourcing the task of maintaining their facility to a professional and experienced facility management company to save on utility costs in the long run.
Greece Facility Management Industry Overview
The Greece facility management market is fragmented, with local and international players with significant years of industry experience. Facility management companies are incorporating technologies into their services, strengthening their portfolio. Smaller and new vendors in the market studied are expected to focus on maintaining cost-benefit over major vendors, further intensifying the competition in the country.
- July 2023 : Polygon Group, By acquiring FSH Group Limited, which will allow us to increase our client base in the highly important UK market and further expand our geographic footprint, continues its ongoing expansion and strengthening of its position in the United Kingdom.
- Januray 2023 : MELKAT, ELEVATE GREECE and the SEV association of businesses and industries have collobrated with an agreement focused on the faster development of the Greek innovation ecosystem, The faster development of new businesses registered on the ELEVATE GREECE electronic platform established by the National Registry for New Enterprises.
Greece Facility Management Market Leaders
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Cowa Hellas Facility Management AE
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Manifest Services SA
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MELKAT
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IMAGIN Facility Management SA
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IDMON Property Advisors & Technical Experts
*Disclaimer: Major Players sorted in no particular order
Greece Facility Management Market News
- May 2023 : Mytilineos announed plans to acquire Unison, which is active in facility management field. The company's clientele includes some of the largest groups in Greece, such as Viohalco, Sklavenitis, OTE, DELTA, Athens Brewery, Hygeia Group, etc.
- February 2023: The Polygon Group shall work in partnership with all its customers, improve processes and take action to reduce the shared footprint by making real reductions while also establishing a number of Internet of ThingsIoT tools for environment management as well as technologies and services that are aimed at monitoring, preventing and limiting damage.
Greece Facility Management Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat Of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Assessment of Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Trend Toward Commoditization of FM
5.1.2 Increasing Investments on Insfrastructure Developments
5.2 Market Restraints
5.2.1 Diminishing Profit Margins and Ongoing Changes in Macro-environment
6. MARKET SEGMENTATION
6.1 By Facility Management Type
6.1.1 In-House Facility Management
6.1.2 Outsourced Facility Management
6.1.2.1 Single FM
6.1.2.2 Bundled FM
6.1.2.3 Integrated FM
6.2 By Offering
6.2.1 Hard FM
6.2.2 Soft FM
6.3 By End-User
6.3.1 Commercial
6.3.2 Institutional
6.3.3 Public/Infrastructure
6.3.4 Industrial
6.3.5 Other End-Users
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Cowa Hellas Facility Management AE
7.1.2 Manifest Services SA
7.1.3 MELKAT
7.1.4 IMAGIN Facility Management SA
7.1.5 IDMON Property Advisors & Technical Experts
7.1.6 Globe Williams Hellas Facility Management Ltd
7.1.7 Unison SA
7.1.8 AGT Engineering & Services
7.1.9 Module FM
7.1.10 Integrated Outsourced Solutions SA
7.1.11 Polygon Facility Services
7.1.12 Sarp Facility Management AE
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Greece Facility Management Industry Segmentation
The Facility Management Market encompasses various disciplines and services that maintain the operation, comfort, safety, and efficiency of the built environment, including buildings, infrastructure, and property. Facilities Management encompasses a number of parameters, including operations and maintenance. FM includes services such as building maintenance, maintenance operations, utilities, waste services, security, and others.
The Greece facility management market is segmented by type (in-house facility management, outsourced facility management (single FM, bundled FM, integrated FM)), offering (hard FM, soft FM), end-user (commercial, institutional, public/infrastructure, industrial). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Facility Management Type | |||||
| In-House Facility Management | |||||
|
| By Offering | |
| Hard FM | |
| Soft FM |
| By End-User | |
| Commercial | |
| Institutional | |
| Public/Infrastructure | |
| Industrial | |
| Other End-Users |
Greece Facility Management Market Research FAQs
How big is the Greece Facility Management Market?
The Greece Facility Management Market size is expected to reach USD 1.79 billion in 2024 and grow at a CAGR of 1.97% to reach USD 1.98 billion by 2029.
What is the current Greece Facility Management Market size?
In 2024, the Greece Facility Management Market size is expected to reach USD 1.79 billion.
Who are the key players in Greece Facility Management Market?
Cowa Hellas Facility Management AE, Manifest Services SA, MELKAT, IMAGIN Facility Management SA and IDMON Property Advisors & Technical Experts are the major companies operating in the Greece Facility Management Market.
What years does this Greece Facility Management Market cover, and what was the market size in 2023?
In 2023, the Greece Facility Management Market size was estimated at USD 1.75 billion. The report covers the Greece Facility Management Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Greece Facility Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Greece Facility Management Industry Report
Statistics for the 2024 Greece Facility Management market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Greece Facility Management analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
