Frost & Sullivan Observes that Regulatory Bodies will Prove a Vital Cog in the Development of the Facilitates Management Markets in the Asia Pacific
Higher Presence of Multinational Companies in the Region Stokes Demand for FM
KUALA LUMPUR, Malaysia, March 21, 2012 /PRNewswire/ -- The active involvement of regulatory bodies, be it the government, building construction authorities or Facilities Management (FM) associations, plays an important role in the evolution of the FM market. The FM markets in developing nations such as Vietnam and the Philippines are moving sluggishly due to the apathy of their regulatory bodies. In this scenario, countries such as Singapore and Australia, which have well developed FM markets, could provide them with templates on FM development and regulations.
New analysis from Frost & Sullivan (http://www.buildingtechnologies.frost.com), Benchmarking Successful IFM Companies in Asia Pacific, finds that the market earned revenues of US$63.32 billion in 2011 and estimates this to reach US$83.85 billion in 2017.
Complying with standards and policies improves FM service providers' professionalism and quality of services, making them more competitive and acceptable to end users.
"Further, the establishment of a FM association will encourage building owners to outsource to FM companies," says Frost & Sullivan Research Associate Janice Wung. "Support from regulatory bodies, by establishing relevant regulations, associations, or arranging conferences, generates awareness among customers and creates the desired environment for FM service providers to expand."
Apart from complying with regulations and standards, the fast pace of industrialization and the influx of MNCs in the Asia Pacific will buoy the FM market. MNCs' better understanding of outsourcing, acceptance of innovative technologies, and willingness to invest in IFM services has gladdened FM service providers.
When dealing with local companies, FM companies have had to battle low awareness of outsourcing and costs competition, as their end users are cost conscious. MNCs have altered market trends with their business culture and greater knowledge of the benefits of outsourcing. Adoption of a mature FM perspective is, more often than not, the result of greater awareness about outsourcing.
"A developing market is likely to witness a shift in trends, with the practice of outsourcing to individual service providers giving way to bundling or integrated service providers," notes Wung. "This signifies a maturing market that will provide high growth opportunities."
If you are interested in more information on this study, please send an e-mail with your contact details to Donna Jeremiah, Corporate Communications, at [email protected].
Benchmarking Successful IFM Companies in Asia Pacific is part of the Building Management Technologies Growth Partnership Services program, which also includes research in the following markets: Home Energy Management Systems in Japan, Temporary Housing Structures in Singapore, and Temporary Housing Structures in Australia. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Benchmarking Successful IFM Companies in Asia Pacific
P5DE-19
Contact:
Donna Jeremiah
Corporate Communications – Asia Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
E: [email protected]
Carrie Low
Corporate Communications – Asia Pacific
P: +603 6204 5910
F: +603 6201 7402
E: [email protected]
SOURCE Frost & Sullivan
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