KUALA LUMPUR, Malaysia, March 28, 2017 /PRNewswire/ -- The Southeast Asian (SEA) integrated facilities management (IFM) market has outpaced the global market average on the strength of energy-efficient services, end-to-end portfolios, and regulatory assistance to service providers. In response to the accelerated growth, global service providers are increasingly collaborating with regional players to expand their portfolio and make the most of the estimated compound annual growth rate (CAGR) of 9.6% between 2015 and 2021.
"The changing trends in building designs, from conventional buildings to smart buildings, have given a huge boost to the uptake of IFM solutions. For instance, the Innovating to Zero mega trend is encouraging the construction of Zero Energy buildings, which bodes well for the IFM market," said Energy & Environment Industry Analyst Janice Wung. "The growing emphasis on smart buildings is significantly impacting the SEA IFM market, especially in the developed markets of Singapore and Malaysia."
SEA Integrated Facilities Management Market, Forecast to 2021, recent analysis from Frost & Sullivan's Homes & Buildings Growth Partnership Service program, analyzes the competitive strategies adopted by companies such as UEM Edgenta, Jones Lang LaSalle, ISS Facility Services, PCS / OCS and CBRE.
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While on the one hand there is abundant revenue opportunity, on the other, there are challenges of socio-economic instability, non-compliance with regulations, and low awareness of IFM technology among facility owners. The sluggish growth of construction market and IFM service providers' reluctance to expand their reach beyond select customer groups are further restraining market growth.
"Despite the roadblocks, IFM service providers are hopeful of a positive market sentiment, as governments start implementing initiatives to stabilize the economic and political environment in the region," noted Wung. "Market participants, for their part, could introduce training camps and awareness programs to boost end-user familiarity with the solutions. Additionally, they need to offer a comprehensive service portfolio, as well as niche facility solutions, to emphasize their customer centricity and gain valuable market share."
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SEA Integrated Facilities Management Market, Forecast to 2021
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