Asia-Pacific Facility Management (FM) Growth Opportunities

·2 min read
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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.

New York, May 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asia-Pacific Facility Management (FM) Growth Opportunities" - https://www.reportlinker.com/p06279628/?utm_source=GNW


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. Outsourcing rates across countries vary significantly depending on market maturity and end-user profiles. Before the pandemic, the market enjoyed strong outsourcing growth, owing to the large penetrable asset base and continuous construction activities, particularly in developing economies. In the future, the high preference for single or bundled services will continue to drive overall outsourcing engagements. The large penetrable market in Asia-Pacific still presents lucrative opportunities for domestic and global FM providers.This study analyzes the Asia-Pacific FM market, covering market drivers, restraints, forecasts, trends, and the competitive landscape of the overall market. The study also provides country analysis for the 10 countries from 2019 to 2027, with 2021 being the base year. This study also identifies 4 key growth opportunities.
Author: Janice Wung
Read the full report: https://www.reportlinker.com/p06279628/?utm_source=GNW

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