Market Trends of United States Facility Management Industry
Increasing Investments in Healthcare Infrastructure and the Construction of Healthcare Facilities
- Due to a growing number of patients and higher healthcare expenditures by the public and private players, healthcare has become one of the most important sectors within the United States. It is estimated that national healthcare spending will increase at an annual rate of 5.5% from 2018 to 2027 in the United States, reaching approximately USD 6 trillion, according to data provided by the Centers for Medicaid Services and Medicare.
- The extraordinary growth in healthcare spending led to the development of a number of different types of care facilities at hospitals and clinics. In addition, the outsourcing of facility management services by healthcare sectors, such as nursing homes, hospitals, and third-party professionals, has significantly increased in the United States. As a result, the demand for facility management services in the healthcare industry has increased.
- Healthcare facilities generate a large volume of both hazardous and non-hazardous waste daily. The quality of patient care may be compromised by hazardous waste if not properly handled. It may cause environmental pollution and the spread of infections.
- In the United States, Medxcel is one of the biggest and most respected providers of healthcare facility services. Over the past four years, Medxcel has provided customers with savings of USD 80 million on facility management expenditures.
- As per the Population Reference Bureau's Population Bulletin, "Aging in the United States," the overall number of Americans who are aged 65 and above is predicted to reach around 95 million by 2060. The majority of elders face mental illnesses, chronic diseases, injuries, and disabilities. The healthcare sector in the United States is under pressure to provide quality care services, high-technology healthcare equipment, and respond to new consumer preferences.
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Commercial Segment to Drive Major Market Demand
- Commercial construction is mainly for the purpose of business through new buildings like offices or a new industrial facility. A service provider mainly provides the entire basic infrastructure of the building, which includes maintenance of lifts, building repair, cleaning of windows, painting, and care of doors, ceilings, and many more.
- In the workplace, smart building technology also plays a key role in assisting facilities managers in building a more energy-efficient, comfortable environment, managing building assets and systems, and planning for future needs.
- In November 2023, Matterport Inc., the 3D digital twin platform provider for the built world, and Belden Inc., a worldwide supplier of network infrastructure and digitization solutions, signed a new partnership with the aim to provide 3D digital twin-powered connectivity solutions for facilities management across industrial automation, smart buildings, broadband, and many others.
- Flexible workspaces with sustainable IT infrastructure have grown significantly in the northeastern United States over the years. The region has the cleanest mechanisms, programs, and policies that augment the adoption of green technology. The US professional cleaning services are experiencing tremendous growth on account of the amplified popularity of "green cleaning technology." The use of sustainable washing agents, which involve special chemicals, equipment, and techniques, is a key factor aiding the overall growth of the market.
- The prime responsibility for facilities management in the retail sector involves keeping the store area clean, safe, and attractive. The retail clients of NEST stated that they received more foot traffic than expected during the COVID-19 pandemic. NEST manages 60,000 retail locations throughout the United States and Canada, with the majority in the United States, and provides an integrated solution that pairs financial acumen and business analytics with an overall consultative approach for both reactive and preventative maintenance.
