India Facility Management Market is Expected to Reach $17 billion by FY’2020: Ken Research
Ken Research announced its latest publication on “India Facility Management Market Forecast to FY’2020 - Driven by Rapid Growth of Commercial Spaces and Advent of Smart Cities” which provides a comprehensive analysis of the facility management services in India.
Ken Research announced its latest publication on “India Facility Management Market Forecast to FY’2020 - Driven by Rapid Growth of Commercial Spaces and Advent of Smart Cities” which provides a comprehensive analysis of the facility management services in India. The report covers various aspects such as market size of India facility management market, segmentation on the basis of types of services, organized/unorganized, major cities, type of contracts, sectors of services provided and subsectors, SWOT analysis, market share of major players in soft services market and in hard services market, tender process and several others. The report is useful for industry consultants, facility management companies, business owners, real estate managers and advisors and new players venturing in the market.
The growth in real estate, preference towards safe, clean and secure environment and flourishing hospitality industry has raised the demand for facility management services in the country. The growth in this segment has been largely led by the factors such as growth in demand from commercial sector with preference towards professionally managed services.
The India facility management market has been penetrated with high competition arising from presence of both international and domestic players in the market. So far, the market has been concentrated in the terms of revenues, since more than ~% of the revenues has been accrued to major 3 players namely JLL, CBRE and Cushman & Wakefield. The revenues of the industry have grown at a CAGR of ~ % from FY’2010 to FY’2015.
According to the Ken Research report, the revenues from facility management services are projected to incline at an impressive CAGR of ~% during FY’2016-FY’2020. This revenue growth is anticipated to post the revenues to USD ~ million by FY’2020 due to the introduction of innovative and versatile methods of managing a given facility. The demand is also expected to rise from the tier 2 and tier 3 cities due to increased business activities in these areas. It is expected that there would be keen interest in sustainability of resources. Thereby it would be required by the facility management companies to track building performance related to energy consumption and sustainability policies. The higher emphasis on energy management could help change the complete management process and also the life cycle of the assets utilized.
“In the current scenario, it is highly important to maintain the excellence in the work. The educational qualification and technical training of the workers should be ensured before initiating the work. Also by laying down a proper chain of command with respect to qualification and expertise of work, keeping an appropriate record of the key performance indicators, the quality can be ensured” according to the Research Analyst, Ken Research.