The facility management market is still relatively nascent and initial growth stage. The market of the facility management market growth was helped by the business outpouring of the multinational corporates, especially in the BPO industry, along with the aspects such as developed healthcare and growing building efficiency in some locations. The integrated facility management dissemination is cheaper owing to the preference for the individual and bundled services by the most end-users, particularly local corporates. However, as the number of MNCs rise in the respective region, the requirement IFM is also predicted to rise.
Based on the market segmentation, the soft services registered the market of the facility management in the Philippines as compared to the hard services in 2017. The improvement in the segments namely real estate, commercial and residential due to Build, Build, Build program has improved the requirement for the soft services in the Philippines country due to the growth in the requirement for cleaning and security services. However, the sector of hard services has a lower share as several organizations tend to link the equipment OEM for servicing, in case equipment demand to be fixed, or several other maintenances is demanded. The single services and bundles services underwritten more to the Facility management market and compared to the integrated facility management services Market.
The Single or bundled services are primarily desired by the local businesses in the region. The local businesses do not yet distinguish the value they can get from the IFM. Not only has this, but the multinational consumers in the Philippines also choose the IFM owing to it is more price proficient. FM corporates have been delivering the soft and hard services to the commercial complexes over the year and the effective augment in this segment have generates the wide potential for the FM corporates. This was followed by the residential segment, healthcare segment, industrial segment and infrastructure in the terms of revenue.
The Facility Management Industry is exceedingly concentrated. ISS Facility Services Phils Inc. is the market frontrunner and has the uppermost market share in the Facility Management market in the Philippines based on the revenue in 2017. This was followed by JLL (Philippines) Inc., Sodexo (On-Site Services), Atalian Global Services, Centuary Property Management Inc., Santos Knight Frank and Mansion Maintenance Company. These market players contend in the FM market in The Philippines based on the Price of services, quality and knowledge of services, track record and previous history within the industry and subdivisions serviced. Corporates are beginning to get more disturbed with the culture of inclusion within the Facility Management Company and the Corporate Social Responsibility activities commenced by them and involve that constraint too in their merchant selection procedure.
Additionally, the future viewpoint of the industry is constructive due to the increasing BPO industry in the Philippines which is anticipated to boom the requirement for both soft and hard Facility Management services. Effective rise in the demand from multinational clients is likely to effectively propel the future requirement for IFM services in the Philippines with commercial office buildings and industrial plants being the coming dissemination segments for IFM services. The growth in construction, tourism and healthcare industries in the across the globe will positively augment the requirement of FM services by these industries. Therefore, in the coming years, it is anticipated that the market of facility management will increase across the globe over the coming decades.
Key Topic Covers in the Report:-
Facility Management Services Market Revenue
Facility Management Market Growth Rate
Facility Management Market
Facility Management Industry
Facility Management Market Growth Forecast
Soft and Hard Facility Management Services Market
Facility Management Market in Healthcare