Facility Management Market Size to Hit USD 205.36 Billion by 2032, Poised for 19.8% CAGR Driven by AI and IoT | Report by MarketsandMarkets™

The facility management market is projected to reach USD 205.36 billion by 2032, with MarketsandMarkets forecasting a 19.8% CAGR. The firm estimates the market was worth USD 61.08 billion in 2025 and expects it to rise from USD 69.38 billion in 2026 to the 2032 figure. The report describes a shift from basic building maintenance to a strategic function focused on asset performance, business continuity, and occupant well-being. Integrated facility management platforms are drawing investment by connecting workplace services, maintenance operations, space use, energy management, and compliance in centralized environments. It also says organizations are moving away from fragmented legacy systems toward cloud-based, data-driven solutions to support resilient buildings and hybrid work models. By solution, facility property management is expected to hold the largest share, and IT & ITES is forecast to register the highest growth rate, supported by adoption of digital workplaces and delivery centers.