The Facility Management Market is Expected to Grow at a CAGR of 14% in the Future – Ken Research

India facility management market is at its very nascent stage with only 40% of the penetration. The outsourcing of facility management in India has been an inconspicuous trend till a few years back. The market has grown rapidly in India especially since years from FY’2010 to FY’2015.

Facility management is one of the integral parts of the business management with a gamut of services available to be provided to the commercial, residential and hospitality sector. The facilities management market in India is highly untapped since current penetration of the facilities management companies is as low as 40%. In FY’2015, the capacity utilization by major companies has enhanced, complemented with emergence of global and local players in the market.

India facility management service has been segmented into two kinds of services namely soft services and hard services. Soft services are those services which needs human skills to perform while hard services require several mechanical and electrical devices along with the human skills to perform.

The facility management market in India receives its highest demand from the commercial sector owing to the high number of services required by the commercial sector such as Heating Ventilation and Air Conditioning (HVAC), housekeeping, cleaning, security and others. The market has been segmented on the basis of regional demand to cover the major cities such as Bangalore, Delhi, Mumbai and others. Out of the major cities, Bangalore has dominated the market for facility management in the country with 40% share in overall market revenues of FY’2015.

Hard facility management market in India has been majorly subjugated by the international players however there has been a gamut of domestic players and a plethora of unorganized players in the market. Despite the fact that there has been a presence of a number of players in the market, over 90% of the market revenues from the complete contract costs have been accrued to the major 3 players namely JLL, Cushman and Wakefield and CBRE.

The facility management market has been on a rising trend since last five years due to increasing number of residential and commercial spaces across the country. Due to the increased preferences of people to live in a clean and secure environment which is professionally managed, there would be a huge demand of facility management services in the coming years. It is expected that the advancements in the building automation market has a major role to play in the facility management market in the coming years.

For more information on the market research report please refer to the below mentioned link:

https://www.kenresearch.com/manufacturing-and-construction/infrastructure/india-facility-management-market-research-report/6193-97.html

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