The next 5 years time will be defining ones for the facility management (FM) market. As services mature and commoditise, innovation through new business models, technology deployment, and more sophisticated value propositions will be critical for growth. Enabling technologies such as Internet of Things (IoT), Big Data and advanced connectivity will drive efficiency for both service suppliers and clients, while changes to both the future workplace and workforce create robust opportunities for integrated workplace change management solutions. Partnerships, collaboration and mergers and acquisitions will increase to facilitate service integration, convergence with energy management, delivery of business productivity, smart technology, and internationalisation of contracts. Successful suppliers will position themselves as client advisors on business productivity in order to provide a value proposition beyond mere cost management.
Frost & Sullivan’s Energy and Environment team report says that the market will touch $945.11 billion by 2025 with integrated FM (IFM) as the fastest growing segment. The study examines eight trends transforming the FM market and envisions the industry in ten years’ time. The research offers growth projections, a vision of future competition, technology impact, emerging business models and details the key mega trends shaping the market. Region-wise, the fastest growing FM markets will be APAC and the Middle East even as North America and Europe continue to lead in terms of innovation. Further Europe will exhibit the highest rate of M&A activity. North America will see service integration enhance efficiency and margins as singleservice markets stagnate. The dynamic FM market in APAC will be driven by economic growth, commercial construction, and a rising culture of service outsourcing. Markets such as the UK and the Nordics will be forerunners in workplace optimisation and business productivity as local participants innovate to overcome commoditisation of FM. High growth in the Middle East will be fuelled by construction activities and strong presence of multinational firms.