The Southeast Asia (SEA) facility management (FM) market is growing, supported by the high construction and renovation activity in the region due to the rapid urbanization and the expansion of smart buildings. The adoption of advanced technologies in building services is also witnessing rapid growth. In addition, government regulations for energy efficiency and energy performance are pushing companies to adopt smart and innovative technologies to achieve energy targets. The regulatory framework in SEA is evolving and, coupled with the rising awareness of the benefits of smart FM among building services stakeholders, the overall industry is moving toward high technology adoption.
However, the perceived high costs or investments associated with technology implementation by both customers and FM participants are hampering the adoption of innovative technologies in building services. Furthermore, the lack of qualified experts who can facilitate smart FM services is holding back FM advancement in SEA. Growth is also hampered by cybersecurity concerns, which prevents the adoption of smart FM. Outsourcing rates across countries vary significantly depending on market maturity and end-user profiles. Before the COVID-19 pandemic, the market enjoyed strong outsourcing growth due to the large penetrable asset base and the continuous construction activities, particularly in developing economies.
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