However, many international property management companies have made a foray into this market and have been achieving phenomenal growth rates over the last five years. In India, FM service offerings are quite mundane in nature with basic electro-mechanical maintenance of lifts, diesel generator sets, plumbing, security, housekeeping, and landscaping.
It is gaining huge acceptance among the customers in Commercial sector as it helps the companies in the hassle-free management of its facilities in a professional manner. Such outsourcing allows manufacturing companies to focus on its core competency instead of worrying India facilities management services market 2014 maintenance aspects of the facility.
The report also includes a discussion of the key vendors operating in this market. Through the inorganic route, few international property management companies have witnessed meteoric rise in the market by acquiring some domestic companies. The infrastructure segment, inclusive of railway stations, airports, and metro stations, is also expected to amplify opportunities for the FM market.
In matured markets, the focus of FM remains on integrating facility, maintenance and building control systems hardware and software through building operations and maintenance services.
These unorganized players provide services at low rates, essentially scuttling the competition from large organized players. Remote monitoring of one or more geographically-dispersed buildings from a single remote location has become quite prominent in matured markets.
Demand in retail, office space, hotel rooms, and residential housing are strong growth enablers for the FM market. Lately, greenfield industrial activities have led to improvement in scope of growth for FM.
However, they retain supervisory services, lease and rental management, construction management and real estate brokerage services. Hard services include electrical, electro-mechanical, mechanical, water management and energy management.
Technology is yet to make an impact on the Indian FM market, unlike developed markets. This has led to increased reliance on handheld devices to minimize paperwork and improve accuracy of data collection.
October 22, Description About Facilities Management Services Facility management services refers to the use of third-party service providers for the maintenance of the building facility or outsourcing the management of entire facilities to an organization for the professional delivery of services.
Economic Impact and Competitive Analysis Competition in Indian FM services market is intense with presence of both domestic and international service providers. The commercial segment including malls, hotels, hospitals, corporate offices, and multi-tenant office buildings has remained the traditional stronghold of most FM companies here.
The market is expected to witness more competition from new entrants through mergers and acquisitions. It comprises of hard services or building operation and maintenance and soft services or support services, and energy management services.
For example, in developed markets, there is an integration of facility management and maintenance management departments through customer relationship management CRM software platforms offered by IT and telecommunication companies. In addition, communications and data systems offer service providers more informative tools, which they can utilize to assist clients in the decision-making process.
Soft services include housekeeping, security, catering, transportation, and horticulture and landscaping. Since the market is riddled with low-cost unorganized service providers, pricing and margins come under pressure. Service provisions in matured markets like the US and Western Europe are more inclined toward offering clients advanced technologies that enhance efficiency and quality of their services.
CRM allows FM service providers to automate maintenance procedures and employ wireless handheld inspection terminals and web-based portals which make it easy to track equipment performance, plan maintenance, control inventory, inform repair technicians, and report results to management in real time.
Clean India Journal - Editor October 21, in Facility Services In developed markets, FM services are closely integrated with some other services in the real estate sector, such as rent collection and lease management.Technavio's report, Facilities Management Services Market in Indiahas been prepared based on an in-depth market analysis with inputs from industry experts.
The report covers the market landscape and its growth prospects over the coming years. Technavio's report, Facilities Management Services Market in Indiahas been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market.
The rise in infrastructural development, boom in real estate and growth in retail and hospitality sectors account for the bulk of the growth in the facilities management mi-centre.comibes’ latest market research report titled ‘Facilities Management Services Market in India ’ has outlined how the facilities management segment has now.
Facility management services refers to the use of third-party service providers for the maintenance of the building facility or outsourcing the management of entire facilities to an organization for the professional delivery of services. 2FACILITIES MANAGEMENT SERVICES MARKET IN INDIA PPT Executive Summary Market Facilities management services is slated to grow at a1% CAGR over e Facilities management services can be broadly classified into hard and soft services It is a highly fragmented industry with the unorganized segment accounting.
FACILITY MANAGEMENT MARKET IN INDIA Introduction Facility Management (FM) services imply the use of a third-party service provider to maintain part of the building facility or outsourcing the.Download