Philippines Facility Management Market is Expected to Cross USD 138 Million 2022: Ken Research

Philippines Facility Management Market is Expected to Cross USD 138 Million 2022: Ken Research

PR Newswire

GURUGRAM, India, December 10, 2018

GURUGRAM, India, December 10, 2018 /PRNewswire/ --

Philippines Facility Management Market by Soft and Hard Facility Management Services; By Single Services, Bundled Services and Integrated Services and By Sectors (Commercial, Residential, Healthcare, Industrial and Infrastructure), Philippines Soft Services Facility Management Market by Type of Service (Cleaning, Security and Others), Philippines Hard Services Facility Management Market by Type of Service (Electromechanical Services, Operational and Maintenance Services and Fire Safety and Security Systems) 

The Philippines facility management market is still in the nascent to early growth stage. The future outlook of the industry is positive owing to the growing BPO and services industry in Philippines which is expected to boost the demand for both soft and hard services. Increasing demand from multinational clients is likely to drive future demand for Integrated Facility Management (IFM) services in Philippines with commercial office buildings and industrial plants being the future penetration sectors for IFM services. The growth in construction, tourism and healthcare industries in the country will increase the demand of FM services by these industries. A number of government plans such as the Build, Build, Build (BBB) Program to accelerate infrastructure spending and develop industries in the country, increase public spending on infrastructure projects at PHP 8 to 9 trillion from 2017 to 2022, the Tax Reform for Acceleration and Inclusion (TRAIN) to fund investments and the Philippine Health Agenda 2016-2022 to achieve successful health system strengthening including focus on local infrastructure that supports system wide capacity for health workforce development are expected to further augment the demand for soft and hard FM services in the future.

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The facility management market in Philippines is expected to grow at a slow pace on account of the growing BPO and services industry in the country, increasing number of MNCs and expansion in the manufacturing sector in Philippines. However, average contract value will decrease due to increasing competition leading to slower growth in terms of revenue.

Analysts at Ken Research in their latest publication "Philippines Facility Management Market Outlook to 2022- By Soft and Hard Facility Management Services, By Single Services, Bundled Services and Integrated Services and By Sectors (Commercial, Residential, Healthcare, Industrial and Infrastructure)" believe that focus on catering to the needs of different clients, educating the clients on task based and performance based contracts, focus on provision of hard services, partnering with smaller players for specific expertise and increasing corporate social responsibility activities will aid the providers of facility management services in Philippines to grow and achieve higher sales.

Key Segments Covered 

By Soft Services and Hard Services 

By Single Services, Bundled Services and Integrated Services 

By Sectors 

Philippines Soft Services Facility Management Market is further Segmented  

By Type of Services 

Philippines Hard Services Facility Management Market is further Segmented  

By Type of Services 

Facility Management Companies: 

Keywords 

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