About Facility Management

Facility management services are essential for the effective operation of any business and ensure the smooth functioning of an organization. Facilities include residential, commercial and industrial infrastructure, like airports, corporate business houses, shopping malls, hospitality and healthcare. 

These professionals are tasked to develop, deliver and maintain a number of services ranging from property, asset, space, and risk management, communications, testing and inspection to business continuity planning, building maintenance, transportation, cleaning, environment, health and safety of the organization and much more.

Facility Management In India

The Indian facility management market currently estimated at USD 8.1 billion is expected to exceed USD 60 billion by 2024 at a CAGR of 24%, which is 13% higher than the global trend.

Facility Management is a key example of an area where the demand for professionals is high but the supply is less. It is the prime time to realize the endless possibilities of where FM professionals can work. Having a focussed education for facility management will often get your foot in the door for higher-level positions, and will also let a student expand his current network. This functional industry will require professionals who expect a good return for their hard work involved in their careers.

The present Indian Facility Management is at the brink of a revolution – a steady shift from the existing tactical service system to a more proactive and predictive one. Here is a graph to understand facility management’s demand across different industries in the country.

FM in other EMEA

In other EMEA areas, such as the Middle East, the facilities management market is in a huge growth phase – which will continue in the next few years. There has also been a fast rise in the construction of commercial infrastructure in industries such as transport, hospitality, entertainment, and healthcare, which has driven more activity in the FM sector. 

Facility Management demand by industries in 2020

Source:https://www.techsciresearch.com/report/india-facility-management-market/1383.html

The provision of soft services dominated the FM market across the globe. It is this segment that analysts say will increase its market share in 2019 with projections that its growth will dominate for the next five years.

The increasing need for automation has led to a demand for facility management software in the Asia Pacific region, which is growing fast within the market, as the region itself experiences changes in its own infrastructure. Despite any political or economic challenges the facilities management market is growing steadily globally in all regions – growth that is driven by the rapid take-up of technological solutions and a more urgent focus on environmental goals.

Growth path in Facility Management

Professionals who stay up-to-date on new developments will find more opportunities. Facility Management Industry is facing the challenge of the demand-supply gap for trained manpower. Higher education, skill development, exposure to national & international standards in facility management will assure FM professionals’ advancement in their career.

The job of a facility manager is challenging but only because it comes with a different set of responsibilities. This ensures that a professional will not be stagnated at a position. 

The rise of facility management requirements, coworking spaces, and the necessity of enterprise support and similar multi-disciplinary support functions sees an opportunity for leaders from any background. If they have acquired the breadth of skills and experience, there is also a high chance to move across functions in executive roles.

In summary, career progression is a big player advantage in FM, within the large corporate and government environment. Facility Managers are empowered to respond faster with smarter solutions and better visibility with a central source of actions and insights. Additionally, adopting technology in buildings besides enabling a smarter FM workforce, can help improve credibility and accountability for FM services, transforming them to be crucial value drivers in the business ecosystem