India Facility Management Market Analysis, Application, And Forecast To 2018-2028
Bharat Book Bureau Provides the Trending Market Research Report on “India Facility Management Market By Service (Property, Cleaning, Security, Support, Catering & Others), By Application (Commercial, Residential, and Industrial), By Service Type (Hard and Soft) and By Region, Competition Forecast & Opportunities, 2018-2028” under the Services Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
The India Facility Management Market stood at USD46.27 billion in 2022 and is forecast to grow at a CAGR of 14.84% by 2028. The growing number of organizations seeking to strengthen their positions in the India facility management market and increasing shift towards energy efficient buildings is anticipated to boost the India facility management market.
Facility management (FM) is a profession which includes various disciplines ensuring comfort, functionality, efficiency, and safety of the built environment by incorporating place, people, process, and technology. Facility Management (FM) aims at how these services are being managed. It is a management discipline that ensures efficient and effective support services for different organizations. It is a function within an association that incorporates people, process, place, and technology within the existing environment and aims at improving the productivity of the organization and the quality of people’s lives. Facility management covers a range of areas such as cleaning, security, health & safety, building maintenance, catering & hospitality, environmental services such as waste management, etc.
Growth in Corporate Outsourcing of Facility Management Driving Market Growth
Outsourcing facility management services has increased over the recent years across nation. Businesses in the country have started realizing the benefits of outsourcing non-core business operations such as facility operations and maintenance, cleaning, etc. Outsourcing such activities helped various businesses to focus on their core business objectives. The pandemic and its economic aftermaths have further necessitated the firms to evaluate the requirement of outsourcing non-core operations to emphasize regaining profits as that of pre-covid levels. The escalated outsourcing in corporate businesses is driving the growth of the India facility management market.
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