 Tricks Of The Trade: Asset Management's MarketTFM Columnist Jim Elledge pinpoints the size and scope of the asset management market in the U.S.
By James C. Elledge, IFMA Fellow, CFM, FMA, RPA, RIAQM Q I actually have two questions: What is the estimated U.S. market size of facility management/asset management space? And how is this space segmented by market player? Thomas Peterson A Here are some numbers that provide a very large overview of commercial buildings [note: this data was current as of 2010]: Based on the 2003 Commercial Buildings Energy Consumption Survey, there were 4,859,000 commercial buildings in the U.S. totaling 71,658,000,000 square feet. This overall total was then broken down by different characteristics, such as building floorspace, principal activity, age, and region. One could use these categories to determine the total space that their product market covers. In response to your second question, there is information based upon research conducted back in 2004 by Terrence O’Hanlon of MaintenanceForums.com. This was the market share information estimated in that survey:
Again, keep in mind that these three vendors, as of 2004, owned 51% of the computerized maintenance management software (CMMS) market. These vendors were followed by:
Another 4% of the CMMS market opted to custom design its own solutions in house. Elledge,
facility/office services manager for Dallas, TX-based Summit Alliance
Companies, is the recipient of the Distinguished Author Award from the
International Facility Management Association (IFMA), is an IFMA Fellow, and is
a member of TFM’s
Editorial Advisory Board. All questions have been submitted via the “Ask The
Expert” portion of the magazine’s web site. To pose a question, visit this link. For additional stories on technology, visit this section of FacilityBlog.
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