It is forecasted that the FM market is to see rapid growth in the next five years, with the APAC region becoming the largest FM market in the world by 2025 driven by economic growth, commercial construction and a rising culture of services outsourcing.
This being the case, firms have come to realize that partnering with the right Facilities Management services provider can help them improve the overall efficiency of their operations.
So, what is driving this growth?
1. Renewed emphasis on regulatory compliances
With the constant emphasis on increasing the value and environmental integrity of projects, it has become all the more important for companies to look at how they conduct business. Greater scrutiny and tighter, multiple regulations have led companies to look at FM partners that can deliver and manage facility services, improve cost performance, while taking on the associated risks. These regulatory responsibilities require greater expertise in FM services.
2. Increased demand for single Integrated Facilities Management Service Provider
With the expansion of organizations globally, many firms are looking into Integrated Facilities Management to ensure the service is identical across all their office setups. Integrated workplace solutions firms have brought transparency to the process, simplifying the decision-making. Integrated services have enhanced the use of CRE tools to further the strategic goals of a company.
3. The changing office environment
Office spaces with technology-driven infrastructure and procedures are already the norm, making it possible for firms to manage their workforce virtually and given rise to a mobile workforce. Many FM services firms have turned towards cloud based services to better serve their clients. With physical office spaces reducing, FM firms will need to address the changing technology portfolios, and all the opportunities and threats that they represent
4. The multi-generational workplace
Three different generations along with diverse work culture and ethics working together, need to juggle their needs and create a homogenous work environment. FM service providers will need to foster processes and procedures that will help with this goal.
5. Increased use of data in decision making
Since smart workplaces also provide a huge amount of data, FM services and real estate stakeholders will need to devise strategies to mine the information and utilize it. A proliferation of data analysis tools and software is already seen. The opportunity should be utilized to measure performance and gain insights to optimize energy use and reduce costs.
6. The rise of robotics
Automation becoming the norm for many tasks, FM services will not remain untouched for long. With better safety and efficiency guaranteed, FM services market will see a surge in performance and also in revenues.
7. Demand for sustainable infrastructure
The demand for sustainable infrastructure has increased and organizations are emphasizing on environmentally sustainable practices that do not cause any harm to the ecosphere. FM service providers are broadening their skill sets and work processes to better reflect these requirements.
Despite a greater penetration of technology and multiple changes afoot, FM will still continue to be a labor intensive field, where both man and machine will work together to enhance efficiencies of the workplace.