The Facilities Management Market in India is Going Through a Major Transformation, Driven by Technological Innovation, New Business Models, and New Service Offerings
Professional FM services have now become a necessity for asset owners, as they not only help increase the lifespan of a building but also help owners meet international health and safety standards. The increased need to reduce operating costs of facilities and buildings of end-user segments and increasing demand for energy conservation and optimum usage of building solutions is fuelling the growth of the FM market in India. The shortage of skilled manpower for services that require technical expertise is a challenge for the service providers in the market.
This industry study on FM services in India offers the most up-to-date market data on the actual market situation by service types (hard and soft services) and by key end-user segments (residential, commercial, industrial, government and infrastructure, and educational institutions). The research service covers the market landscape and its growth prospects for the coming years. The study also includes a discussion of the key companies operating in this market.
The research includes market data from FY19 to FY24 which gives the future outlook for the FM services market in India and makes the study an invaluable resource for industry executives, marketing, sales, and product managers, analysts, and others looking for key industry data in readily accessible and clearly presented tables and graphs.
The study also provides an analysis of data related to the FM market from the 4 regions of India: North, South, East, and West.
Growing awareness levels, increasing acceptance of outsourcing non-core activities, adoption of technology and burgeoning demand from retail, offices, and industrial clients have together contributed to the growing demand for FM services in India.
The technology trends discussed in this study are Internet of Things (IoT) and Big Data analytics, building information modeling (BIM) usage in facility management, cloud solutions, drones, artificial intelligence (AI) and robots, and green FM services.
Using environment-friendly solutions and reducing energy consumption through sustainable strategies to improve building efficiency are key areas for FM companies that they have started focusing on. Similarly, remote data management of building management systems and data analysis are gaining popularity and are expected to provide growth opportunities for FM companies.
Cumulative market revenue for FM services is expected to grow at a CAGR of 23.4% from FY2019 to FY2024. FM companies can gain a competitive advantage by focusing on energy management services. Integrated facility management (IFM) service contracts between vendors and end-users will become a major trend.
Research Scope
- Market Type: Soft service and hard service
- End-user Segment: Residential, commercial, industrial, government, infrastructure, and others
- Geographic Scope: North, South, East and West
- Study Period: FY19–FY24
- Forecast Period: FY20–FY24
Key Issues Addressed
- How is the market for FM services expected to grow in the future and at what rate?
- How has the market been classified in terms of services? What are the industry and competitive structures like?
- Which types of service markets have potential as targets that could bring sustainable growth?
- Which type of end-user segments have higher market share, and which segments are expected to provide large opportunities in the future?
- What are the key market trends and technology trends?
- What are the key regulations for the facility management industry in India?
