Facility Management has been regarded as one of the most important service-based industries that has taken the global industrial sector by storm since the last three decades. The Indian Facilities sector is also improving at a rapid pace through the inception of the facility management sector has been quite nascent.
Industry analysts have forecasted that the Indian Facility Management sector will be recording a combined annual growth rate of around 24% during the interval of 2020 to 2025. The Indian management of its facilities sector has identified two main drivers for the enhancement of its reach. They are the increased focus on the outsourcing of non-core operations and the massive expansion of the real estate sector. Along with the ones mentioned above the government regulations on safety measures as well as the environmental and sustainability concerns are expected to be drivers for the facilities market.
Trends that are reshaping the future of FM :
The future of the Facility Management industry lies in the following factors :
- Economic expansion
- Globalization and
- Technological development.
Technological prowess is something which has been modifying the facilities sector gradually. There has been the emergence of a number of technological trends which have the potential to change the way people think or feel about facility management. The number of technological trends which are reshaping the future of the Facility Management industry can be discussed below.
- Autonomous systems and smart sensors: The internet of things and smart buildings are all part of Industry 4.0 which is affecting the facility management sector to a huge extent. Smart sensors include temperature and humidity control sensors which track the environmental changes to provide the occupants with a maximum level of satisfaction and comfort. The proliferation of all these is bound to increase and this will lead to an increase in efficiency as well as saving energy and space.
- Drones and Aerial Imaging: Not just for military reconnaissance, drones and UAVs are being effectively used to develop the 2D mapping, 3D mapping as well as thermal imaging of the properties and get their area and volumetric measurements to the exact degree.
- Virtual Reality and Augmented Reality: Though earlier these technological trends were mostly used for their application in games and movies, they are creating quite a buzz in the facilities sector these days. These technological innovations can be successfully used to model realistic and 3D images of the built environment. These also help in creating the intricate design of properties and the users can interact with these simulated environments easily.
- Biometric Technology: Biology based security systems are taking over the traditional security measures which had been relevant until the recent past in case of buildings and properties. Technologies like voice activation, facial recognition and eye sensors are crucial these days because they have outgrown the traditional security systems and are boosting the security measures in the facility to a significant degree.
These are the major trends that will impact and lead to the growth of the FM industry in the near future.