An integrated facility management system is an information technology (IT) based fiscal and financial management system which is use by many private firms, public firms and government entities to commence, spend and supervise their financial statement. It also commences and handles their expenditure, and supervises and reports their financial activities.
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The various services under this include as design and integration, data migration, deployment, consultancy and managed services.
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On the basis of various solution provided by the integrated facility management, the market can be broadly categorized in six different segments namely, asset management and space management, project management, real estate portfolio management and lease administration, energy management and environment sustainability management, maintenance management, and others.
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Based on the different end user industry, the global integrated facility management market can be broadly classified in eight different verticals namely banking, financial services, and insurance (BFSI), public sector, utilities, and aerospace and defense, telecommunication, manufacturing, supply chain, and logistics, real estate and infrastructure, healthcare, retail, and others
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The growing economy and increasing manufacturing industries in emerging economies such as India, China and Brazil is driving the wide adoption of integrated facility management in this region, moreover the global integrated facility market is offering good return on investment (ROI). Moreover the technological advancements in cloud computing is expected to boost the market in the coming time.
Lack of effective promotion or low level of awareness among the consumers and, unavailability of standardization in developing countries is acting as a challenge for the integrated facility management market.
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Increasing Cloud storage capacity and advancement in the field of cloud computing technology coupled with facility management outsourcing from new geographic is providing new market opportunity for the integrated facility management market
North America is the largest market of the integrated facility management followed by Europe and Asia Pacific. The U.S. is the largest market in North America.
The U.K. Netherlands and Denmark is the largest market in the Europe. In Asia Pacific, China, Japan and India are the leading market for facility management.
The Asia Pacific market of integrated facility management is growing in double digit owing to the growth of the allied industries of integrated facility management in this region.
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