Future Trends in Indian Facility Management Industry

Future Trends in Indian Facility Management Industry

Facility Managers, also known as FMs are increasing importance with high awareness on the need of creating a sustainable environment. Facility Management is a profession which focuses on the proper functioning of the work environment by integrating processes and technology, place, people, etc. It eventually helps to optimize the process, assets, and employees and work environment to achieve the objective and goals of organizations. Thus the concept of Facility management has become trending in India.

Facility Management has a great prospectus and broad spectrum. It facilitates innovative and logic based customized integrated facility management services in India along with the assurance of:

  • Multiple activities and disciplines
  • The proper and professional work environment
  • Improved long-term growth

Many of the important ideas in the facility management and service industry are revolving trending to allow people to future-proof certain businesses. By analyzing the tendencies of the future scenario, the facility management has come up with certain trends to consider.

The approach of the Facility Management System is based on smoothing the operations and serving build-in experiences. Facility Management professionals have great opportunities to add values to their company or the organization through improved technology, strategic planning, and effective management.

Here are the future trends in the Indian facility management industry:

  • Sustainability: The main sustainable challenge for the coming century will be global warming. In order to be more efficient in the case of more energy and carbon, people and organizations around the world must have to rebuild their infrastructure and economies. The sustainable challenge faced by the society will have the multiple facility management services in the coming time. These may include effective supply, building design, maintenance, and management.
  • Technological developments: Technology is leveling up fast and increasing its domain and functions. Technological progress enhances productivity and leads to the development of new industries, more employability, income growth and the minimization of poverty. Some of the changes expected will have a great impact on the IT industry including smart surveillance, smart machines and robots, security applications, NFC (near field communication sensors) and other models which enable automation. This will enable with good quality products along with a reduction in prices for advanced technology and increased labor cost.

Technological developments are minimizing low-quality a labor and creating a need for new demand for skill sets. New technology demands that people work in an intelligent way.

Robotic technology may also reflect. Facility Managers will be gathering data from the users as a feedback that will be used to adjust the environment and the entire facility management services accordingly.

  • Economic Growth: The Indian facility management industry will face great consequences with the rise of construction activities in the market. Different companies will rise up as competitors in the emerging market of construction, resulting them to be innovative and delivering some great benefits to the clients.
  • Globalization: Globalization makes us more aware of the local differences. Due to globalization, multiple MNCs have started to adapt their products and market to the local places. Companies and organization who are able to understand the emerging markets and different trends can have a good future ahead in the industry.
  • The growth of knowledge society: New ways of dealing with businesses have created a lot of data that needs to be gathered, stored and analyzed. By 2020, it is estimated that the Indian Facility Management industry will effectively collect, store, analyze and functionalize a large amount of data to maximize profit and generate more value.
  • Focus on health and well-being: Over the time, health has become an important issue and is increasing its focus. A healthy lifestyle always leads to enhance human capabilities, both technologically and artificially. This will definitely create a major impact on the global facility management and service industry.

According to a survey it was found that more than 30% of the integrated financial management revenue is generated solely by the healthcare sector. The increase of health-related issues will lead to innovate building designs to promote and assess healthier and productive lifestyle of the company employees.

According to a survey it was found that the global health industry has grown from 6.4% (2013-15) to $43.3 billion and is expected to rise again.

  • Individualization: Individualization has a great impact on the companies in low and middle-income countries. People are expecting tailored products, services, and solutions. Thereby it is expected for the companies to deliver individualized services that increase their value proportion. On the other hand, this will increase the employee turnover. Individualization has an existence till customers and employee increase their demand for individual attention.
  • Commercialization: Commercialization leads to tighten the competition, reduce the product lifecycle as well as leading to innovation, differentiation, and specialization.

Facility management and service industry will have to figure out the best way to retain their customers and maximize their values. In order to achieve this, the company needs to understand how facility management and service industry can put effort to improve the customer/user experience. Certain strategic plans are laid to increase the quality.

Trends specific to facility management industry:

Changing the way of working: Companies and organizations are implementing new practices and ways to corporate identity, increase flexibility, speed, driving innovation, productivity and enhancing knowledge sharing practices. The facility managers also known as FMs increasingly make effective use of only management tools like facility reservation, leading to better facility management and a good building design. Thus making the traditional workplace to become the alternative workplace.

After a lot of researches, surveys and reports it is predicted that facility managers will look over the responsibility for running buildings in a smooth way an also taking welfare of the working employee. It will embellish an environment that is desirable for the employees to work smoothly. Facility managers are expected to understand core business values and reduce the facility costs, by improving the revenue generation, productivity, efficiency and entire fame of the organization.

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