RALEIGH, North Carolina, Feb. 7, 2019
RALEIGH, North Carolina, Feb. 7, 2019 /PRNewswire/ --
The global market for integrated facilities management (IFM) is expected to grow at a CAGR of 7 percent until 2020, according to Beroe Inc., a procurement intelligence firm. The market for FM outsourcing and the adoption of an IFM strategy signals an increasing buyer maturity and willingness to partner with suppliers.
APAC remains the fastest growing market for outsourced FM services and the progressive growth of major economies in the region such as China and India are expected to keep the demand high. Moreover, the increasing levels of commercial property creation and construction are accelerating the market for outsourced FM services.
Beroe, which is based in North Carolina, further stated that procurement experts can access this report on its recently launched market intelligence platform Beroe LiVE: live.beroeinc.com
One major driver of the IFM market is the improvement in economic conditions across developing countries and large scale industrial development such as construction and real estate. Alternatively, the low level of awareness among buyers in developing markets about the opportunities offered by outsourcing FM services is a constraint in the industry.
The IFM industry is facing impediments globally and the situation seems to be critical with several top Tier-2 suppliers such as Serco, G4S, MITIE, Interserve, and Carillion struggling to upgrade their services. Tier 2 companies are developing skills to provide a wide range of services to various sectors such as housing corporation, oil & gas, retail, hotels, and manufacturing.
The key success factors for IFM implementation is the optimum integration of the frames, which ensures that the high/key spend services and regions are integrated first. Furthermore, the changed management and customization is necessary for the IFM industry, wherein the buyers/service providers need to assure that customization is performed in integrated contracts for optimized processes.
The research methodology adopted for the report included:
From robotics and wearable technology to IoT, the IFM industry is becoming more interconnected, and the suppliers are looking forward to utilizing technology to drive productivity and achieve cost savings for the client. Additionally, outsourcing to a single FM player would enable buyers to regulate the level of services across various locations, and the productivity and efficiency could be improved through the initiation of various KPIs and compliance clauses.
The report also includes:
Cost & Pricing Analysis:
Procurement Best Practices:
End-Use Industry Updates
About Beroe Inc.:
Beroe's unique business model involves providing market intelligence and analytics to the procurement teams of businesses across the globe. Beroe leverages its deep domain expertise in 300 + categories across 14 industries. It boasts of more than 80 of the Fortune 500 companies as its clients.
To learn more about Beroe Inc, please visit http://www.beroeinc.com