Integrated Services Buoy Facilities Management Market in Australia, Finds Frost & Sullivan
03 Dec, 2014, 09:29 GMT
- Market opportunities to stem from the strong demand for retrofits
SYDNEY, Dec. 3, 2014 /PRNewswire/ -- The Australian facilities management (FM) market is primarily driven by expanding construction activity which widens the asset base that must be maintained and managed. With owners looking to raise asset utilization rates, the need for maintenance and refurbishment services will further spur market revenues. Although the slowdown in the mining sector has dampened FM demand, the market is unlikely to be heavily impacted as most contracts are for the medium to long term.
New analysis from Frost & Sullivan, Facilities Management Market in Australia, finds that the market earned revenues of US$32.01 billion in 2013 and estimates this to reach US$42.15 billion in 2020. The study covers building, operation and maintenance, environmental management, IT and telecommunications, support services, and property management.
For complimentary access to more information on this research, please visit: http://corpcom.frost.com/forms/APAC_PR_DJeremiah_P83F-19_25Nov14.
"The resources sector boom prior to September 2011 and the strong trend towards outsourcing continue to open up significant opportunities for solution providers in the Australian FM market," said Frost & Sullivan Energy and Environmental Research Analyst Janice Wung. "The increased priority placed on energy efficiency and retrofits is also paving the way for market development. The increasing numbers of buildings undertaking environment-friendly upgrade works will eventually lead to the review of current FM practices of these buildings and the possibility of adopting energy-efficient approaches and leveraging appropriate technologies."
However, financial pressure as a result of uncertain economic and market conditions, along with the continued shortage of qualified FM professionals is expected to temper this growth. Substantial reductions in budgets across a number of public sector agencies will also affect FM adoption.
In this cut-throat landscape, solution providers must leverage the rising popularity of integrated FM (IFM) and sustainable services to carve a niche for themselves. Tier I and II participants are likely to benefit the most from the rising popularity of IFM services.
"To cope with competitive and price pressures, FM vendors must also enhance internal efficiencies and improve their responsiveness to customers," advised Wung. "As market participants wrestle for market share, ownership or structural changes among key FM service providers will change competitive dynamics and positively impact the market in the coming years."
Facilities Management Market in Australia is part of the Building Management Technologies (http://www.buildingtechnologies.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: European Integrated Facility Management (IFM) Market, Global Building Automation Market, Building Construction Market in Asia-Pacific, and A Sustainability Perspective in the Asia-Pacific Green Buildings Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Facilities Management Market in Australia
P83F-19
Contact:
Donna Jeremiah
Corporate Communications – Asia Pacific
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E: djeremiah@frost.com
Carrie Low
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E: carrie.low@frost.com
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