Growth Opportunities in the Asia-Pacific Facilities Management Market, Forecast to 2023
NEW YORK, Dec. 2, 2019 /PRNewswire/ --
The Asia-Pacific facilities management (FM) market is enjoying stable growth, primarily supported by rapid FM development in developing markets and offset by low growth in mature markets. The increasing outsourcing culture and growing asset base due to construction activity and greater familiarity of information technologies across most corporations are expanding the penetrable FM market base.
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In addition, the growing need for cost efficiency from some end-user sectors and upcoming trends on energy efficiency and changes in the workplace, are positively shifting market development.However, market development is affected when large, conservative end-users delay acceptance of sophisticated FM propositions, or even outsourcing in general.
The lack of market standardization and the shortage of skilled personnel dampen possible market development.Furthermore, budget restriction and financial pressure, particularly in non-critical FM expenditure, together with market saturation witnessed in certain segments or country markets, are impacting overall market development.
Asia-Pacific observes growth contributed by rapid market development from Indonesia and Thailand, and to a certain extent, Malaysia. In terms of a region as a whole, the rapid development from developing facilities management markets are offset by stable, lower single-digit growth from developed markets. By country, Australia has the highest FM maturity among Asia-Pacific countries. High integrate facilities management (IFM) adoption is an indicator of strong acceptance of sophisticated solutions among end-users. By end-user segment, the commercial sector led in almost all country markets due to the high maturity among commercial end-users on FM concepts and ease of penetration for service providers. There are 12 key growth opportunities identified in this study, from both the vision-and-strategy perspective as well as the brand-and-demand aspect. This study analyzes the Asia-Pacific facilities management (FM) market, covering market drivers, restraints, forecasts, trends, and a brief competitive landscape of the overall market. The study also dives into analyzing the market by region: Southeast Asia, Australia and New Zealand, and Japan and South Korea. This study covers the 2016 to 2023 timeframe with 2018 being the base year.
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