The facility management industry in India is slowly picking up momentum. The last decade has seen tremendous growth in the facility management industry in India with the sector getting more organised and being applied in specialised services for numerous organisations. Though the inception of the industry has been quite recent, its evolution has been rapid and multi-utilitarian. The facility managers are tasked with the burden of improving organisational productivity, boosting employee satisfaction, enhancing customer experience, managing time and operations effectively, maintaining equipment, and therefore resulting in the augmentation of the organisation’s financial bottom line.
The present scenario of the Indian FM industry and its scope of growth :
The Indian Facility Management industry has tremendous potential for growth in the future. The present worth of the Indian Facility Management industry is around INR 5 lakh crore and constitutes about 3.2% of the GDP of the nation. Industry estimates point out to the fact that the FM industry is expected to display a combined annual growth rate of around 20% to 24%.
The tremendous growth in the facility management industry in India can be attributed to the excessive proliferation of construction activities in both commercial and residential sectors as well as the development of SEZs and food and logistics parks. The Government of India has undertaken various initiatives like providing residential habitats for all citizens and the development of smart cities and these schemes are providing a huge impetus to the expansion of the facility management industry in India. This demand is going to surpass all limits in the upcoming future because it will get extended to tier 2 and tier 3 cities due to the proliferation of business activities in those regions.
Key aspects and trends of the FM industry in India :
In comparison to the global facility management industry, the Indian facility management industry has a lot of inherent shortcomings which it needs to overcome in order to grow at an exponential rate. The Indian facility management industry lags behind its global peers in terms of market maturity, adoption of modern and state of the art technology as well as the appreciation for the high standards maintained in service deliveries. One of the key features is to increase awareness for the importance of facility management in terms of business continuity, optimisation of operational costs, long term real estate asset value optimisation as well as compliance to green standards.
The key challenges in the Indian facility management industry involve the skill gap that exists between the technical and non-technical workforce and the lack of infrastructure to train those people and equip them with the requisite skill set.
FM providing tailored solutions to the indigenous industries :
The growth of the Indian FM industry has been prolific and it has evolved way past its original and obsolete model of providing housekeeping and security services to the residential and commercial construction which has happened in the past. These days the facility management services have become an integral and indispensable part of every organisation which may belong to any industrial sector; because their usage results in the enhancement of the efficiency and productivity of those organisations.
The modern facility management industry involves providing tailored solutions fortified by the expertise and tremendous experience of the facility managers and other facilities professionals and a deep understanding and comprehension of what a business needs to grow and amplify successfully, besides performing commendably. The modern technological trends like the IoT and the Artificial Intelligence backed machines are transforming the scenario of the Indian facility management industry. This is therefore resulting in the development of smart, resilient, sustainable and productive organisations which are contributing to the growth of the nation.