Facility management in India has grown as a thriving industry, particularly in the late twentieth century. Initially, organisations depended on internal teams to handle their facilities needs. However, a significant shift in cultural attitudes toward outsourcing non-core tasks, along with an increased emphasis on cost minimization, has fueled the rise of professional facility management (FM) service providers in the country. The future of facility management (FM) services is full of exciting potential. One significant trend is the increasing demand for integrated FM systems. Businesses and organisations are looking for complete services that include all aspects of property management, from maintenance to security, reflecting a trend toward streamlining operations and increasing efficiency. Furthermore, there is a greater emphasis on sustainability in the industry. Green cleaning and energy saving practices are gaining popularity as businesses attempt to lessen their environmental impact and fit with larger sustainability goals. Trade exhibitions and events shape the FM environment by providing networking and knowledge-sharing opportunities. Events like the IFM Conference & Awards provide invaluable chances for industry professionals to stay current on the newest trends, technology, and best practices in facility management. According to the research report “India Facility Management Market Overview, 2029," published by Bonafide Research, the India Facility Management market is projected to add more than USD 4 Billion from 2024 to 2029. The Indian FM market demonstrates various trends and drivers that support its rapid growth. Several factors contribute to India's growth trajectory, including urbanisation, infrastructure development, and the emerging trend of smart cities. Furthermore, the incorporation of cutting-edge technology such as the Internet of Things (IoT) and automation into FM practices is transforming the industry landscape by increasing operational efficiency and encouraging data-driven decision-making processes. Despite the promising opportunities, the Indian FM business faces chronic hurdles. Notably, the market is fragmented, with many small and medium-sized competitors competing alongside big firms. Furthermore, a lack of experienced people in important areas such as data analytics and sustainable practices is a serious hindrance to the sector's expansion. Furthermore, the current price sensitivity among clients, who sometimes prioritise cost concerns over service quality, is a significant problem for FM service providers competing in the Indian market.
Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally
Download SampleThe facilities management (FM) industry caters to a diverse range of enterprises, offering solutions and services tailored to their specific needs. Enterprises are typically categorised based on size, with large corporations characterised by extensive resources and operations, while small and medium-sized enterprises (SMEs) operate on a smaller scale. Within various industry verticals, FM services play a crucial role in supporting businesses across different sectors. In the Banking, Financial Services, and Insurance (BFSI) sector, FM ensures the smooth functioning of banking operations and financial institutions. In Healthcare & Life Sciences, FM contributes to maintaining the efficiency and safety of healthcare facilities and research laboratories. The IT & Telecom industry relies on FM for the management of office spaces, data centres, and telecommunications infrastructure. Similarly, the Construction & Real Estate sector depends on FM for the maintenance and upkeep of buildings, facilities, and infrastructure projects. FM services also play vital roles in Retail & Manufacturing, Government & Public Sector, Education, Travel & Hospitality, and other industries, ensuring operational efficiency, compliance with regulations, and the overall well-being of occupants and users. By catering to enterprises of all sizes and addressing the diverse needs of various industry verticals, the FM industry plays a crucial role in supporting the functioning and growth of businesses across different sectors. In terms of policy and regulation, the Indian FM sector is experiencing significant changes. Efforts are underway, led by institutions such as the Indian Facility Management Institute (IFMI), to standardise industry standards and develop a professional culture among stakeholders. Furthermore, developing rules, particularly those governing energy efficiency and waste management, are projected to have a considerable impact on FM service delivery systems in the country, defining the sector's future trajectory. The Indian facilities management (FM) business is still in its early stages when compared to industrialised economies, but it has enormous growth potential, owing principally to the expansive and rising commercial real estate sector. In this dynamic landscape, FM companies use a variety of promotion and marketing techniques to build their presence and attract customers. In essence, the Indian FM market's promotion and marketing efforts are multifaceted and strategic, combining traditional networking approaches, digital outreach initiatives, and compelling storytelling techniques to foster brand awareness, generate leads, and ultimately drive business success in this promising but competitive industry landscape. The COVID-19 epidemic has had a significant impact on the facilities management (FM) industry in India, causing a paradigm shift in how firms approach workplace management and operational strategies. With health and safety concerns at the forefront, the pandemic has highlighted the crucial relevance of hygiene and sanitization in commercial spaces, requiring FM firms to adapt and innovate to meet changing client expectations and regulatory requirements. The pandemic has also increased demand for remote working solutions, prompting FM firms to develop and implement agile workplace strategies that enable seamless remote collaboration and productivity while ensuring employee well-being and operational efficiency. From developing robust technology infrastructure to delivering flexible space optimization solutions, FM businesses have played a critical role in assisting organisations in efficiently navigating the obstacles of remote work. Furthermore, the epidemic has prompted a larger rethinking of workplace design and utilisation, with a greater emphasis on creating safe, healthy, and adaptable work environments that can adjust to shifting company dynamics and employee preferences. As a result, FM businesses have played an important role in leading projects aimed at envisioning the future of work and easing the shift to more robust and agile workplace ecosystems. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029
Aspects covered in this report • Facility Management market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Component • Solutions • Services By Solution • Integrated Workplace Management System (IWMS) • Building Information Modelling • Facility Operations & Security Management • Facility Environment Management • Facility Property Management
By Service • Professional Services • Managed Services By Enterprise size • Large enterprises • SMES By Vertical • Banking, Financial Services, & Insurance (BFSI) • Healthcare & Life Sciences • IT & Telecom • Construction & Real Estate • Retail & manufacture • Government & Public Sector • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Facility Management industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.
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