The India facility management market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 23% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use sectors. These insights are included in the report as a major market contributor.
Facility management (FM) refers to tools and services that help ensure the comfort, safety, efficiency, functionality, and sustainability of buildings, grounds, infrastructure, and real estate. It includes maintenance and operations, energy management, occupancy and space management, capital project planning and management, lease administration and accounting, and emergency management and business continuity. It relies on the Internet of Things (IoT) sensors, Wi-Fi, meters, gauges, intelligent devices, analytics, and artificial intelligence (AI) to deliver cognitive capabilities, achieve real-time visibility, perform predictive facilities maintenance, and offer more productive and cost-efficient environments. Presently, due to the increasing urban development, FM services are being used in the commercial and residential sectors of India.
Significant growth in the real estate sector on account of shifting preferences towards a safe, clean, and secure environment represents one of the primary factors bolstering the market growth in India. Additionally, the emerging concept of Green Building, along with the enactment of the Real Estate (Regulation and Development) Act (RERA) 2016, which protects home buyers and helps boost the real estate sector, is stimulating market growth. With the booming information technology (IT) sector and the growing popularity of e-commerce platforms, the overall need for infrastructure and organized spaces is increasing, which is also influencing the market positively. Apart from this, several companies are utilizing AI and IoT technologies to automate FM services for energy efficiency audits. Moreover, the Government of India has launched the Smart Cities Mission to promote sustainable and inclusive cities. This has resulted in increasing investments in the infrastructure sector, which has further created a need for professional FM services. Furthermore, the post-pandemic rising emphasis on hybrid workspaces and return-to-the-workplace strategies is anticipated to augment the demand for FM services to maintain safety, health, and productivity in the country.
IMARC Group provides an analysis of the key trends in each sub-segment of the India facility management market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, solution, service, deployment type, organization size and vertical.
Breakup by Solution:
Breakup by Service:
Breakup by Deployment Type:
Breakup by Organization Size:
Breakup by Vertical:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis||2020|
|Segment Coverage||Solution, Service, Deployment Type, Organization Size, Vertical, Region|
|Region Covered||North India, West and Central India, South India, East India|
|Customization Scope||10% Free Customization|
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