Latin America. The Facility Management market, specifically, throughout 2021, presented a mixed behavior, where absorptions improved in general, since they registered less negative numbers compared to 2020.
It should be noted that this global market reached a value of USD $48.9 billion in 2020. It is expected, in turn, to grow at a CAGR of 13.2% during 2021-2026.
If we associate this growth with the real estate market, we can describe that the volume under construction increased by more than 450 thousand m2, closing the year at 2.95 million square meters.
According to different analysis, the emerging trend of digitalization, coupled with the increasing adoption of Internet of Things (IoT) and cloud-based software, currently represent the key factors driving the growth of the market. In addition, the emergence of Integrated Facility Management (IFM) is acting as another growth-inducing factor.
Macro data
According to the IMF's latest projections, published in July 2022, "lower growth earlier this year, reduced household purchasing power and tighter monetary policy prompted a downward revision of 1.4 percentage points in the United States."
Faced with this, it was emphasized: "In China, the new lockdowns and the deepening of the real estate crisis have caused growth to be revised downwards by 1.1 percentage points, with significant contagion effects worldwide. And in Europe, the significant downgrades reflect the spillover effects of the war in Ukraine and tighter monetary policy.
Global inflation has been revised upwards due to food and energy prices, as well as persistent supply-demand imbalances, and is projected to reach 6.6 percent in advanced economies and 9 percent in emerging market and developing economies this year: upward revisions of 0.9 and 0.8 percentage points, respectively."
