The global facility management market has proficiently monitored the robust growth throughout the review period; however, the market is still in its growth stage around both industrialized and developing economies. The market is broadly fragmented with the extensive amount of companies performing within the FM industry. The market of the facility management during the recent past was amounted by the soft services but the technological development and increasing the demand for the building the maintenance has concluded in an augmenting for the hard services. Not only has this, the review growth aspects for the industry comprise the boosting real estate market, positive growth in the construction industry, an augmenting number of shopping malls and supermarkets, exploring the hospitality sector and focus at the green building aligned to the Vision 2030, creating the choices for the FM services across Oman.
In addition, the foremost growth in the project activity centered on tourism and the commercial sector has augmented for the soft and hard services in the economy, leading to an effective impression on the facility management market. The growing inflow of foreign emigrants has also positively obstructed the growth of the industry.
Although, the facility management market in Chile was effectively witnessed in its augmenting stage. The market in terms of revenue has augmented at a positive double-digit throughout the forecast duration. This increment was assisted by the efficient increase in the investor’s activities, cost control measures, a wider requirement from the several end-user segments, implementation of sustainable practices and technological advances, along with the proficient growth in the requirement for the industrial and commercial segment in the region, wherein the market players catered to the demands of the consumers for both the hard services and soft services. Nonetheless, the efficient increment in the construction industry, due to the government’s schedule with respect to the advancement of the transport infrastructure, energy, and utilities coupled with the reasonable housing and investment in the seaports, special economic zones, and railway lines has influenced the requirement for the facility management services in the region.
Whereas, the market for facility management in Vietnam is at an augmenting stage. The growth of the facility management market in Vietnam was proficiently supported by the greater FDI inflows in the region, public segment outsourcing, measures of the cost controls, the wider requirement for the end-user segments, speedy urbanization and wide technological advances, along with the positive growth in the requirement for the commercial and residential spaces in the region, wherein the market corporates catered to the requirement of the clients for both hard and soft services.
The enlargement in the sectors such as real estate, residential and commercial owing to Build, Build program has advanced the demand for soft services in the respective region owing to the growth in the requirement for cleaning and security services. In addition, the Single services and bundles services effectively contributed more to the facility management market and matched to incorporates facility management services market Single or bundled services are primarily preferred by the local business in the respective economy. Hence, in the near years, it is probable to increase the facility management market growth more significantly around the globe over the coming years.
Indonesia Facility Management Market Outlook to 2023 – By Single, Bundled and Integrated Services; By Soft Services (Housekeeping, Security, Landscaping and others ) and Hard Services (Electromechanical Services, Operations, and Maintenance Services, Fire Safety and Security Systems), By End User Sectors (Industrial, Commercial, Residential, Infrastructure, and others)
Australia Facility Management Market Outlook to 2023 – By Single, Bundled and Integrated Services, By Soft (Cleaning, Security and Other services) and Hard Services (Electromechanical, Operations, and Maintenance, Fire and Safety), By End User Sectors
Ankur Gupta, Head Marketing & Communications