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Service Integration Transforms United Kingdom Facility Management Market


News provided by

Frost & Sullivan

24 May, 2017, 08:27 GMT

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Collaboration and partnerships will be critical as market is disrupted by technology and new business models, finds Frost & Sullivan's Homes & Building team

LONDON, May 24, 2017 /PRNewswire/ -- Technology innovation, new business models, emerging value propositions, and creative new service offerings are transforming facility management (FM) in the United Kingdom. The market is moving toward service integration with sophisticated advisory services focused on business productivity; however, FM services are commoditising and organic growth is hard to find. Companies must embrace service innovation and innovative value propositions built around enhancing business productivity if they are to remain profitable in a rapidly evolving ecosystem.

Growth Opportunities in the UK Facility Management Market, part of Frost & Sullivan's Homes & Buildings Growth Partnership Service (GPS) program, finds that the UK outsourcing FM industry will pass $40 billion in total revenue within the next five years. In the next eight years, integrated facility management (IFM) penetration is expected to reach 27.3 per cent—the highest in any country in the world. The study includes growth forecasts, comprehensive market metrics, competitive analysis, service trends, customer sector trends, and mapping of the most attractive opportunities.

To find out more, or to talk to us, please email Anna Zanchi, Corporate Communications: anna.zanchi@frost.com 

"The pace of change in the UK FM services market is faster than suppliers have ever experienced. Collaboration, partnerships, and mergers and acquisitions are critical as the market is disrupted by technology," said Energy & Environment Partner and Business Unit Leader John Raspin. "To drive efficiency and deliver value-adding services in a mature, highly penetrated market, suppliers must harness advanced technologies, adopt business models such as everything-as-a-service (XaaS), and enter accessible high-growth segments such as energy management, performance contracting, and sustainability management."

Trends and developments driving growth in the UK FM market include:

  • High levels of merger and acquisition activity driven by service expansion, vertical customer alignment, globalisation, technology addition, and overall expansion of the value proposition;
  • Self-delivery firms increasing bundled services and IFM;
  • Energy management services growth that is set to outstrip the overall FM market, with energy performance shrinking the key growth business model;
  • Data analytics transforming client delivery models and creating value-adding insights for customers and suppliers;
  • Growth opportunities in service innovation due to the convergence of FM with technology and workplace optimisation;
  • Private-sector growth that is ahead of the public sector, especially in commercial offices, the financial sector, and industry/manufacturing; and
  • Technology-centric Mega Trends that are set to transform FM services in the UK in terms of both service delivery options and customer behaviour. Examples include Industrial Internet of Things (IIoT), artificial intelligence, augmented reality, and intelligent robots.

"Connectivity and convergence mean cloud-hosted analytics will increasingly drive remote management for technical services and preventative maintenance," noted Raspin. "To gain a competitive advantage, FM companies must adopt or develop technologies such as service drones and intelligent robots, while also facing competition from technology firms and original equipment manufacturers."

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.

Contact:
Anna Zanchi
Corporate Communications – Europe
P: +39.02.4851 6133
E: anna.zanchi@frost.com
http://www.frost.com

Related Links

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