Facility Management Market Size In India Expected to Rise at 12.55% CAGR During 2023-2028

According to the latest report by IMARC Group, titled "India Facility Management Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." the India facility management market is expected to exhibit a growth rate (CAGR) of 12.55% during 2023-2028. Looking forward, IMARC Group expects the global market to continue its robust growth during the forecast period (2023-2028).

Facility management (FM) represents tools and services that aid in ensuring the comfort, safety, efficiency, functionality, and sustainability of buildings, grounds, infrastructure, real estate, etc. It comprises maintenance and operations, energy management, occupancy and space management, capital project planning and management, lease administration and accounting, and emergency management and business continuity. FM relies on the Internet of Things (IoT) sensors, Wi-Fi, intelligent devices, analytics, and artificial intelligence (AI) to deliver cognitive capabilities, achieve real-time visibility, and offer more productive and cost-efficient environments. Consequently, these services find extensive applications in the commercial and residential sectors of the country.

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India Facility Management Market Trends:

The increasing number of urban development projects and the shifting preferences towards a safe, clean, and secure environment are resulting in the expansion of the real estate sector, thereby augmenting the India facility management market. Furthermore, the emerging concept of green building and the enactment of the Real Estate (Regulation and Development) Act to protect home buyers are also bolstering the market growth. Apart from this, the expanding information technology (IT) sector and the growing popularity of e-commerce platforms are escalating the demand for requisite infrastructure and organized spaces, which is further catalyzing the market growth across the country. Moreover, the rising usage of AI and IoT technologies to automate FM services for energy efficiency audits is acting as another significant growth-inducing factor. Besides this, the launch of the smart cities mission by the government of India to promote sustainable and inclusive cities, which is resulting in increasing investments in the infrastructure sector, is positively influencing the market growth. Additionally, the post-pandemic return-to-the-workplace strategies and the inflating focus on hybrid workspaces are expected to drive the India facility management market in the coming years.

India Facility Management Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the India facility management market has been studied in the report with the detailed profiles of the key players operating in the market.

Key Market Segmentation:

The report has segmented the India facility management market on the basis of solution, service, deployment type, organization size and vertical and region.

Breakup by Solution:

Integrated Workplace Management System
Facility Operations and Security Management
Building Information Modeling
Facility Property Management
Facility Environment Management

Breakup by Service:

Deployment and Integration
Auditing and Quality Assessment
Support and Maintenance
Consulting
Service Level Agreement Management

Breakup by Deployment Type:

On-premises
Cloud-based

Breakup by Organization Size:

Small and Medium Size Enterprises
Large Enterprises

Breakup by Vertical:

Banking, Financial Services and Insurance
IT and Telecom
Government and Public Administration
Healthcare
Education
Retail
Energy and Utilities
Others

Breakup by Region:

North India
West and Central India
South India
East India

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Key Highlights of the Report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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