Robust Growth Opportunities in the Asia-Pacific Facility Management Sector
Partnerships for technology strategy are essential in capturing new FM prospects as economy recovers
Growth in the Asia-Pacific Facility Management (FM) market is stable, driven by the rapid FM development in developing markets and offset by low growth in mature markets. The increase in outsourcing culture, supported by the continuous expansion of the asset base with new construction, contributes to a higher penetrable FM market base. Constantly evolving customer needs (in the ongoing pandemic, for example) change market prospects and impact the overall FM demand. Further, the growing need for cost and energy efficiency and increasing familiarity with Information Technology (IT) have resulted in a greater demand for high-value, sophisticated FM value propositions.
However, the high preference for in-house FM among conservative end users affects the market. Manpower constraint is another cause for concern in this labor-intensive market. In mature markets, the availability of only a limited penetrable base restricts growth opportunities to contract renewals; first-time outsourcing clients are hard to come by. The lack of regulations and guidelines related to building services, particularly in developing markets, has resulted in an expectation gap between service providers and clients. In addition, the unwillingness to innovate among conservative end users is resulting in market stagnation.
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