Against a background where companies are coerced into recalibrating their property strategy, building maintenance, communications infrastructure, administration, and space management, into a better and more cost-effective solution, the importance of facilities management comes to the fore. As companies modernize their business environment, driven by the need to remain competitive, and retain critical survival capabilities, such as, agility and flexibility in a fast changing marketplace, their commitment to take up facilities management services industry reaches to new levels. The tough economic conditions have additionally reinforced the need to restructure businesses in a cost-effective, yet compelling way.
Facilities management (FM) is a management discipline that supports and improves core company processes and increases return on investment by result-oriented use of resources, services, and activities, vital to the success of any organization. There are several advantages stacked in the favor of facilities management, including, cost advantage, economies of scale, and efficient management of facilities and assets. One of the strongest arguments for facilities management is that it removes the weighty burden of peripheral activities off the shoulders, allowing the businesses to direct more attention towards core business. By outsourcing non-core functions, facility owners will have the ability to free essential resources for reallocating in revenue-generating activities. Despite the complexities posed by statutory regulations, IP protection and employee rights, efficient facility management strategies can still drive incremental growth. The market is set to expand, in the upcoming years, as small and medium sized businesses as well public facilities are waking up to benefits of facilities management industry.
As facilities management operations is heavily dependent on overall corporate health, and public sector spending, the recent economic recession has not surprisingly taken its toll on the world facilities management industry. Bleeding corporate balance sheets in the face of financial crisis, tight liquidity and customer budgets, fall in service requirements, enterprise skepticism over infrastructure investments, high levels of unemployment, have subdued growth in facilities management services. Recession-induced contract renegotiations have especially dented revenues in the industry. The recessionary pressures also bifurcated large contract deals into smaller contracts of lower values, with shorter turn-around times. Smaller FM budgets also affected maintenance costs, with specialist sub-contractors under pressure to cut down on labor rates.
However, the recession has not pushed the growth rates of global facilities management to red primarily because the most spontaneous need to curtail costs in an unfavorable business environment is overridden with a simultaneous need to develop a platform for future growth. Although, the current global recession throws a temporary dampener on growth patterns, a recovery in the financial scenario in the immediate future will push the market's growth fundamentals back into the fore.
As stated by the new market research report, Europe and United States account for a major share of the global Facilities Management market revenues. In the mature markets of North America and Japan, FM demand growth will remain modest in the near term, reflecting the economic slowdowns in the these countries. Continued weakness in building sector is one factor limiting market growth in North America and Japan. Demand for facilities management in rest of the world will remain healthy thanks in part to the emerging markets, which will maintain their own dynamism. Asian countries including China and India, Middle East, and South Africa hold the key to future growth.
Major players in the global marketplace include ABM Industries Inc, Amey, Aramark, EMCOR Group Inc, Etisalat Facilities Management LLC, Europa, Faceo FM UK Ltd., ISS, Johnson Controls Inc, Kier Facilities Services Limited, MITIE Group Plc, TFN Group, and Turner Facilities Management Ltd., among others.
The research report titled "Facilities Management: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The single segment report provides market estimates and projections (in US$ Billions) for major geographic markets including the United States, Canada, Japan, Europe, Asia-Pacific, and Rest of World.
For more details about this comprehensive market research report, please visit -
www.strategyr.com/Facilities_Management_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
For the original version on PRWeb visit: www.prweb.com/releases/prweb2011/4/prweb8310937.htm
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