Report

The Greece Facility Management Market is anticipated to record a CAGR of 2.4%, over the forecast period (2022 - 2027). The growing emphasis on outsourcing non-core operations and growth in the real estate sector is expected to drive the Greece market for facility management services. Along with this the government regulation on safety measures and environmental concerns to follow green practices is expected to drive the market.

Key Highlights
Greece has its prominence in outsourced markets for facility management services in terms of development and sophistication. The region's facility management industry operates with integrated contracts provided by significant vendors such as Cowa facility management S.A., ALTER EGO S.A., etc. across various countries and borders, and small local players focus on single contracts and single-service solutions. However, given the dynamics occurring across the region, there are increasing opportunities to leverage facility management and corporate real estate in new ways.
Moreover, facility management (FM) includes management methods and techniques for building management, infrastructure management for an organization, and overall harmonization of the work environment in an organization. This system standardizes services and streamlines processes for an organization.
Across the last decade, several service vendors such as Manifest Service S.A., CORDIA etc. operating in the region have been focused on expanding their presence to leverage the increasing demand for facility management, especially with the recent trend favoring the outsourcing of non-core operations. Further, the Greece has been witnessing increased opportunities to leverage facility management and corporate real estate in innovative ways, given the dynamics across the country.
In terms of the end-user demand, the public sector's contribution toward the facility management market in the Greece, primarily driven by the government's constrained budgets that lead to the continuous outsourcing of essential facility management services.
Considering the market for Greece facility management, it has been subjected to moderate growth due to the rise in demand for people with an improved requirement. This scenario is projected to bolster the development of the market during the forecast period. The ongoing pandemic has resulted in steady market growth in the region. However, the pandemic has resulted in limited production, leading to a sharp decline in business inputs. ?
The outbreak of COVID-19 has had a mixed business impact on facilities management firms. The restrictions on the movement of people resulted in a decline in project work and a decreased level of activity across many customer sites. Significant players in the market, such as Premium Property Operations, Manifest Facility Management, and others, were adversely affected due to the pandemic lockdown.


Key Market Trends

Commercial Buildings Segment to hold significant share in the market


In Greece, investment companies such as Knight Frank Greece usually decide to specialize either in the residential or commercial property market. As commercial investments suggest higher cash flow potential and often provide better returns on investment, the commercial buildings segment offers lucrative opportunities, making them an attractive form of investment in the region, consequently boosting the Facility Management Market's growth in the region during the forecast period.
For instance, one of the prominent companies of Facility Management in Greece i.e., Cowa Facility Management aims to maintain and increase in the long term the assets of companies in the form of buildings and various types of facilities. With the economic and targeted use of resources, the cost of building and service maintenance is reduced throughout the life cycle.
The gaining interest in establishing smart buildings and other IoT technologies provides various opportunities for the vendors in the market to introduce IoT-based facility management and accelerate the growth for smart buildings in Greece. For instance, in 2022, The Things network in Athens has 18 LoRaWAN gateways, 59 contributors and an end-to-end energy efficiency solution to help facility managers property owners to optimize and control energy consumption and adapt to smarter technologies with IoT integrations.
The Greece facility management service growth is attributed to the increasing demand for customized solutions for different in-house and outsourced facility management. Moreover, the rising number of commercial buildings in major cities (such as Athens, Thessaloniki, Patras) is further pushing demand for facility management services across the country. Additionally, rapid infrastructure development and the rising focus on integrated facility management services are anticipated to influence the studied market positively.
Commercial companies such as service providers, retail, wholesale, construction, finance, insurance and real estate etc. in Greece almost hold 47.5% of the total companies present in the country listing to 169,119 companies in the segment.


Big Data and AI Allows Facility Management Teams to Drive for Efficiency, Sustainability, and Cost Savings


Facility management has been evolving rapidly over the past several years, resulting in widespread changes to Greece's industry. Facility management is undergoing a paradigm shift in the region as trends related to data, disruption, evolving amenities, and new workplace concepts are gaining traction and becoming more popular.
The trends in the Greece market are for a progression from single services to bundled services and further toward the integrated facilities management approach. This offers a broad scope of services and longer-term contracts, adding value, driving better quality and economies of scale, and increasing the demand for outsourced services, where specialist expertise is required.
Vendors in the region have been providing bundled services to their customers that offer multiple advantages for clients. For example, All Experts Facility Service, through its bundled services, provides a multi-disciplinary capability for clients. This often gives them a complete specialist services solution, with the following benefits: one single point of contact for all the services, a more focused approach toward the servicing of their assets, keeping the building(s) in first-class operational order, and associated cost savings. By offering a bundled service, the company can ensure compliance with all services provided by All Experts.
The demand for AI adoption in various companies is significantly higher for faciilty management. For instance in 2021, as per the European Enterprise Survey, 47% of the enterprises in Greece facing lack of skills as a barrier to AI adoption for Big Data management skills while 50% of them for Machine learning technology.
Moreover, many AI based startups such as Augmenta, Deepsea technologies, Orange click media, metis etc. have been emerged in the Greece market in the recent times serving various fields could most often add-on to facility management market in the coming years which helps the market companies in predicting faults and schedule preventive maintenance, identifying security risks, smart reporting and analytics.


Competitive Landscape

The Greece Facility Management Market is moderately consolidated with the presence of diverse firms of different sizes. This market is anticipated to encounter a number of partnerships, mergers, and acquisitions as organizations continue to invest strategically in offsetting the present slowdowns that they are experiencing. The clients in this region are employing FM services to increase the ease of their business operations. The market comprises key solutions and service providers, such as Cowa Facility Management S.A., Premium property Operations, Manifest Facility Management, CORDIA, and ALTER EGO S.A.


May 2021 - GenKa facility services collaborated with Afterlife fitness excellence, due to the network of sports facilities it has, for its undivided trust in the facility management services provided by the company which has high demands of the chain's customers, as well as the specifications of the Absolute and Boutique facilities.
April 2022 - Manifest Facility Management established their cooperation with Endeavor Greece, which took over the entire cleaning services in Athens maintaining sustainable economic growth. And in the same month, its cooperation with FedEx, a global courier company, by providing electrical services for the lighting upgrade of its central warehouse, located in Markopoulo.


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