Facility Management Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2014 To 2020
The facility management market is expected to be driven by extensive utility in optimal management of resources and organizational assets. Increased use in telecommunication, retail, public sector, manufacturing, healthcare, BFSI, and aerospace & defense is also expected to drive the facility management market over the forecast period.
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management-market There has been an increased emphasis on development of IT based solutions in order to streamline support functions with primary objectives of several businesses. These solutions help the facility managers to track and manage information from numerous support functions which include admin, technical, and infrastructural processes.
The market has been characterized by fast-paced development of new facilities on account of substantial infrastructural development rate. Retail, manufacturing, public sector, and real estate comprise the main end-users catering to facility management solutions; these verticals have undergone considerable infrastructural transition, giving rise to the need for incorporating data from operational facilities into other business applications. These systems help achieve transparency in organizational operations, thereby improving decision making abilities. Lack of standardization and low exposure levels are expected to hinder the facility management market growth over the forecast period. North America and Europe are expected to lead the market in terms of installing facility management solutions. Asia Pacific is expected to witness a surge in facility management systems’ installations.
Dynamically changing business environment has resulted in leading market players offering customized solutions and integrated modules for addressing varying industrial demands. Industry participants such as IBM, Archibus, and Oracle offer customized and standalone solutions including lease administration, real estate portfolio management, asset management, maintenance management, and space management. In addition, vendors offer several other services such as consultancy & managed services, deployment, design & integration support, and data migration.
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