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Home Management Leadership Operations

Integrated facilities management: Asia’s emerging opportunities

FutureCIO Editors by FutureCIO Editors
August 25, 2021
Photo by Pixabay from Pexels

Photo by Pixabay from Pexels

Buildings don’t come alive on their own. They are also very expensive to keep running. It costs money to operate a building whether the place is busy or closed for the holiday.

The global facilities management marketplace will be worth US$65.5 billion by 2025, up from US$39.5 billion in 2020. Facility management (FM) solutions help the FM team to develop sustainable buildings and optimize functions at the most efficient level.

Facility management solutions enable facility managers to identify the underutilized and poor performing facilities, assets, processes, and resources, and help improve facility assets.

An integrated facilities management (IFM) brings all your facilities management contracts under a single service. IFM can combine hard facilities management, which includes elements of the building fabric, and soft FM like security, cleaning, and waste management.

Frost & Sullivan’s recent analysis on Southeast Asian integrated facilities management (IFM) finds that the IFM market is on an upswing in the region due to the demand for energy efficiency, regulatory support, narrowing expectation gaps between service providers and end-users, and the emergence of service providers that offer specialized FM services.

Frost estimates the IFM market to garner $2.41 billion in revenue by 2025 from $1.82 billion in 2020, registering a 5.8% compound annual growth rate (CAGR). In addition, the increasing deployment of technologies due to COVID-19 and environment-conscious consumers’ emphasis on adopting energy-efficient methods will further expedite market progress.

Though IFM adoption levels are anticipated to vary across the Southeast Asian countries, Singapore and Malaysia are expected to observe the highest adoption rates.

This study analyses commercial, institutional, public/infrastructure, and industrial market segments, among others. In these market segments, industrial is expected to witness the highest CAGR at 7%, followed by institutional at 5.9% during 2020-2025.

Janice Wung

“Changes in the mindset across all stakeholders, including service providers, clients, and occupiers, are significantly impacting facilities management (FM), whether in terms of a value proposition or service requirements,” said Janice Wung, program manager, industrial practice, Frost & Sullivan.

“Innovation through the incorporation of technology-supported propositions or enabling technologies is key to the future of FM.”

She added that IFM opportunities can involve various building-related components, and these can range from energy to visitor experience.

“Due to this, service providers must identify the need to act swiftly through collaborations/partnerships with suitable technology or platform providers or firms that possess strong technical or niche capabilities,” she continued.

Lucrative opportunities for players

Workplace management to optimize occupier experience: Service providers can look for opportunities in existing engagements by integrating workplace management into core FM/IFM services.

Data analytics to improve maintenance and costs: Acknowledging the growing demand for data analytics will allow service providers to drive awareness.

Energy management to optimize cost and comply with building standards: As technology and innovation continue to be the core of energy management solutions, service providers should incorporate technologies such as real-time reporting to optimize the solutions.

Market collaboration and consolidation to leverage knowledge and experience: Vendors should identify areas ripe for expansion supported by partnerships/collaborations with specialized or technical firms.

Related:  Telcos under threat from enterprises in private networks deployment
Tags: energy managementenvironmental social governanceESGFrost & SullivanIoT
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