Facilities Management Services Market in India 2014
Netscribes’ latest market research report titled Facilities Management Services Market in India 2014 outlines how the facilities management segment has now been elevated to a strategic level of importance. India embraced facilities management services when companies started outsourcing their non-core activities to different vendors. Non-core activities comprise the paraphernalia of activities such as HVAC, maintenance and cleaning, plumbing and others that are placed at the service of the core businesses by facilities management service providers in such a way so as to protect an organization’s capital investment in real estate.
The Indian facilities management services market is growing at an impressive rate but is largely dominated by the unorganized segment. Several factors such as the rise in infrastructural development, boom in real estate, and growth in retail and hospitality sectors account for the bulk of the growth in the facilities management services. Witnessing the immense growth potential that the sector promises, many players including foreign players have dotted the Indian market. Though there are no government strictures regulating the market, the facilities management services sector is defined by the presence of an industry body, namely the Indian Facilities Management Association.