13.76% CAGR in Facility Management Services Market in India|Technavio

NEW YORK, Nov. 4, 2021 /PRNewswire/ — The facility management services market in India is expected to grow by USD…

NEW YORK, Nov. 4, 2021 /PRNewswire/ — The facility management services market in India is expected to grow by USD 13.43 bn at a CAGR of 13.76% from 2020 to 2025, according to the latest research report from Technavio. This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. The facility management services market in India is segmented by end-user (IIBB, manufacturing, infrastructure, healthcare, and others) and service (soft services and hard services).

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The facility management services market in India report offers a comprehensive analysis of the strategies adopted by vendors and the trends, drivers, and challenges affecting the market size. The impact of technology in managing building facilities is expected to have a positive impact on the growth of the facility management services market in India during the forecast period.

The facility management services market in India covers the following areas:

Facility Management Services Market In India Sizing

Facility Management Services Market In India Forecast

Facility Management Services Market In India Analysis

Market Challenges

The facility management services market in India faces the following challenges:

  • Employee attrition and training: Facility management services require skilled, semi-skilled, and unskilled manpower. However, there is a shortage of skilled and semi-skilled manpower with technical knowledge, which is hindering the growth of the market. As a result, vendors have to provide training to their employees, which is a major challenge. Moreover, the reluctance of vendors to invest in retaining their existing workforce is leading to high attrition.
  • Highly fragmented market: As there are several local vendors present in the facility management services market in India, the market is highly fragmented. Unorganized vendors that provide a limited number of services have dominated the market. This poses a challenge to organized vendors.
  • Slow adoption of new technologies: The adoption of new technologies in the facility management services market in India is slow due to the dominance of unorganized vendors. These vendors rely on inexpensive manpower and lack support from end-users.

Some Companies Mentioned

  • CBRE Group Inc.
  • Cushman & Wakefield Plc
  • Jones Lang LaSalle Inc.
  • OCS Group Ltd.
  • Quess Corp. Ltd.
  • SILA Group
  • SMS Integrated Facility Services Pvt. Ltd.
  • Sodexo Group
  • Tenon Facility Management India Pvt Ltd
  • Updater Services Pvt. Ltd.

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Facility Management Services Market Scope in India

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 13.76%

Market growth 2021-2025

USD 13.43 billion

Market structure

Fragmented

YoY growth (%)

11.14

Regional analysis

India

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

CBRE Group Inc., Cushman & Wakefield Plc, Jones Lang LaSalle Inc., OCS Group Ltd., Quess Corp. Ltd., SILA Group, SMS Integrated Facility Services Pvt. Ltd., Sodexo Group, Tenon Facility Management India Pvt Ltd, and Updater Services Pvt. Ltd.

Market Dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research

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UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/

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