Facility management services market in India to grow at a CAGR of 15.23%, Rising levels of outsourcing in building management to drive growth - Technavio

NEW YORK, May 10, 2023 /PRNewswire/ -- The size of the facility management services market in India is forecasted to increase by USD 16.32 billion from 2022 to 2027 at a CAGR of 15.23%, according to a recent market study by Technavio. The growth of the market will be driven by the rising levels of outsourcing in building management, the development of SEZs and mega food parks, and focus on smart cities. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download a sample report

Rising levels of outsourcing in building management is driving the market growth. End-users can focus on their core business activities by outsourcing various facility-related services such as HVAC, catering, security, and various other support services. There are significant growth opportunities in end-user segments such as healthcare, infrastructure, and retail, which further emphasizes the importance of outsourcing services such as facility management. Using an outsourced provider can help end-users minimize training and operational costs and, in turn, maximize profits. Tools for financial management, benchmarking, energy management, space planning, and tenant management are crucial for integrated facilities management. All these factors are expected to fuel the growth of the market during the forecast period.

The impact of technology on managing building facilities is a key trend in the market. Technological developments are expected to create significant opportunities for providers during the forecast period. Providers should leverage advanced technologies to focus on parameters such as cost, quality, and time. Intelligent security monitoring systems, intelligent building control systems, and advanced robotics are some of the technologies that are expected to shape the future of the market. The facility management services market in India is moderately mature. Therefore, facility management providers should hire, train, and retain staff with the skills to handle advanced technologies. These factors will support market growth during the forecast period. 

Employee attrition and lack of training can challenge market growth. There is a shortage of qualified and semi-skilled workers to provide facility management services, especially those that require technical expertise. For example, high skills are required to operate new surveillance devices and security gadgets. The availability of unskilled labor increases the bargaining power of suppliers. Therefore, labor force retention is a major challenge for suppliers, which will restrict market growth during the forecast period.

Technavio has extensively analyzed 15 major vendors, including A La Concierge Services Pvt. Ltd., BVG India Ltd., CBRE Group Inc., Clean India Group, CLR Facility Services Pvt. Ltd., Colliers International Property Consultants Inc., Cushman and Wakefield Plc, EFS Facilities Services Group, ISS AS, Jones Lang LaSalle Inc., OCS Group International Ltd., Quess Corp. Ltd., ServiceMax Facility Management Pvt. Ltd., SILA Group, SMS Integrated Facility Services Pvt. Ltd., Sodexo SA, Tenon Facility Management Pvt. Ltd., Updater Services Ltd., Vatika Group, and Handiman Services Ltd.

Key benefits for industry players & stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Customer landscape - Analysis of price sensitivity, adoption lifecycle, customer purchase basket, adoption rates, and purchase criteria by Technavio

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

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The market is segmented by service (soft services and hard services) and end-user (IIBB, manufacturing, infrastructure, healthcare, and retail and others)

Segmentation by service

• The soft services segment will account for a significant share of market growth during the forecast period. Soft services are classified into housekeeping (includes cleaning services to maintain the hygiene and cleanliness of a facility), transportation (includes transportation services such as fleet management and the delivery of goods), catering (includes food facility for employees, visitors, and special occasions), and security (Includes surveillance cameras, alarms, and guarding facilities). The growth of this segment is attributed to factors such as the low cost of soft services when compared to hard services.

The report comprises of various segments as well as analysis of the trends and factors that are playing a substantial role in the market, buy the report

What are the key data covered in this report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the facility management services market in India between 2023 and 2027
• Precise estimation of the size of the facility management services market in India size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the facility management services market in India
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of facility management services market vendors in India

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Related reports

The size of the facility management services market in North America is estimated to grow at a CAGR of 7.69% between 2022 and 2027, and the size of the market is forecast to increase by USD 114.36 billion. This report extensively covers market segmentation by end-user (commercial buildings, government buildings, and residential buildings), and service (soft services and hard services).

The Middle East facility management services market is estimated to grow at a CAGR of 10.85% between 2022 and 2027. The size of the market is forecasted to increase by USD 34.05 billion. This report extensively covers market segmentation by service (hard service and soft service) and type (outsourced and in-house).

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Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by Service
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 10: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 11: Chart on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 12: Data Table on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 13: Chart on India: Year-over-year growth 2022-2027 (%)
• Exhibit 14: Data Table on India: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Facility management services market in India 2017 - 2021 
• Exhibit 15: Historic Market Size – Data Table on Facility management services market in India 2017 - 2021 ($ billion)

• 4.2 Service Segment Analysis 2017 - 2021 
• Exhibit 16: Historic Market Size – Service Segment 2017 - 2021 ($ billion)

• 4.3 End-user Segment Analysis 2017 - 2021 
• Exhibit 17: Historic Market Size – End-user Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Service

• 6.1 Market segments
• Exhibit 25: Chart on Service - Market share 2022-2027 (%)
• Exhibit 26: Data Table on Service - Market share 2022-2027 (%)

• 6.2 Comparison by Service 
• Exhibit 27: Chart on Comparison by Service
• Exhibit 28: Data Table on Comparison by Service

• 6.3 Soft services - Market size and forecast 2022-2027 
• Exhibit 29: Chart on Soft services - Market size and forecast 2022-2027 ($ billion)
• Exhibit 30: Data Table on Soft services - Market size and forecast 2022-2027 ($ billion)
• Exhibit 31: Chart on Soft services - Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Soft services - Year-over-year growth 2022-2027 (%)

• 6.4 Hard services - Market size and forecast 2022-2027 
• Exhibit 33: Chart on Hard services - Market size and forecast 2022-2027 ($ billion)
• Exhibit 34: Data Table on Hard services - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Chart on Hard services - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Hard services - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Service 
• Exhibit 37: Market opportunity by Service ($ billion)
• Exhibit 38: Data Table on Market opportunity by Service ($ billion)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 39: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 40: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 41: Chart on Comparison by End-user
• Exhibit 42: Data Table on Comparison by End-user

• 7.3 IIBB - Market size and forecast 2022-2027 
• Exhibit 43: Chart on IIBB - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Data Table on IIBB - Market size and forecast 2022-2027 ($ billion)
• Exhibit 45: Chart on IIBB - Year-over-year growth 2022-2027 (%)
• Exhibit 46: Data Table on IIBB - Year-over-year growth 2022-2027 (%)

• 7.4 Manufacturing - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Manufacturing - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Data Table on Manufacturing - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Chart on Manufacturing - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Manufacturing - Year-over-year growth 2022-2027 (%)

• 7.5 Infrastructure - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Infrastructure - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Infrastructure - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Infrastructure - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Infrastructure - Year-over-year growth 2022-2027 (%)

• 7.6 Healthcare - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Healthcare - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Healthcare - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Healthcare - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Healthcare - Year-over-year growth 2022-2027 (%)

• 7.7 Retail and others - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Retail and others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Retail and others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Retail and others - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Retail and others - Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by End-user 
• Exhibit 63: Market opportunity by End-user ($ billion)
• Exhibit 64: Data Table on Market opportunity by End-user ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 65: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 66: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 67: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 68: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 69: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 70: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 71: Matrix on vendor position and classification

• 11.3 A La Concierge Services Pvt. Ltd. 
• Exhibit 72: A La Concierge Services Pvt. Ltd. - Overview
• Exhibit 73: A La Concierge Services Pvt. Ltd. - Product / Service
• Exhibit 74: A La Concierge Services Pvt. Ltd. - Key offerings

• 11.4 BVG India Ltd.
• Exhibit 75: BVG India Ltd. - Overview
• Exhibit 76: BVG India Ltd. - Product / Service
• Exhibit 77: BVG India Ltd. - Key offerings

• 11.5 CBRE Group Inc.
• Exhibit 78: CBRE Group Inc. - Overview
• Exhibit 79: CBRE Group Inc. - Business segments
• Exhibit 80: CBRE Group Inc. - Key offerings
• Exhibit 81: CBRE Group Inc. - Segment focus

• 11.6 Clean India Group
• Exhibit 82: Clean India Group - Overview
• Exhibit 83: Clean India Group - Product / Service
• Exhibit 84: Clean India Group - Key offerings

• 11.7 Colliers International Property Consultants Inc. 
• Exhibit 85: Colliers International Property Consultants Inc. - Overview
• Exhibit 86: Colliers International Property Consultants Inc. - Product / Service
• Exhibit 87: Colliers International Property Consultants Inc. - Key offerings

• 11.8 Cushman and Wakefield Plc 
• Exhibit 88: Cushman and Wakefield Plc - Overview
• Exhibit 89: Cushman and Wakefield Plc - Business segments
• Exhibit 90: Cushman and Wakefield Plc - Key offerings
• Exhibit 91: Cushman and Wakefield Plc - Segment focus

• 11.9 Jones Lang LaSalle Inc. 
• Exhibit 92: Jones Lang LaSalle Inc. - Overview
• Exhibit 93: Jones Lang LaSalle Inc. - Business segments
• Exhibit 94: Jones Lang LaSalle Inc. - Key news
• Exhibit 95: Jones Lang LaSalle Inc. - Key offerings
• Exhibit 96: Jones Lang LaSalle Inc. - Segment focus

• 11.10 OCS Group International Ltd. 
• Exhibit 97: OCS Group International Ltd. - Overview
• Exhibit 98: OCS Group International Ltd. - Product / Service
• Exhibit 99: OCS Group International Ltd. - Key news
• Exhibit 100: OCS Group International Ltd. - Key offerings

• 11.11 Quess Corp. Ltd.
• Exhibit 101: Quess Corp. Ltd. - Overview
• Exhibit 102: Quess Corp. Ltd. - Business segments
• Exhibit 103: Quess Corp. Ltd. - Key offerings
• Exhibit 104: Quess Corp. Ltd. - Segment focus

• 11.12 ServiceMax Facility Management Pvt. Ltd. 
• Exhibit 105: ServiceMax Facility Management Pvt. Ltd. - Overview
• Exhibit 106: ServiceMax Facility Management Pvt. Ltd. - Product / Service
• Exhibit 107: ServiceMax Facility Management Pvt. Ltd. - Key offerings

• 11.13 SILA Group
• Exhibit 108: SILA Group - Overview
• Exhibit 109: SILA Group - Product / Service
• Exhibit 110: SILA Group - Key offerings

• 11.14 SMS Integrated Facility Services Pvt. Ltd. 
• Exhibit 111: SMS Integrated Facility Services Pvt. Ltd. - Overview
• Exhibit 112: SMS Integrated Facility Services Pvt. Ltd. - Product / Service
• Exhibit 113: SMS Integrated Facility Services Pvt. Ltd. - Key offerings

• 11.15 Sodexo SA
• Exhibit 114: Sodexo SA - Overview
• Exhibit 115: Sodexo SA - Business segments
• Exhibit 116: Sodexo SA - Key news
• Exhibit 117: Sodexo SA - Key offerings
• Exhibit 118: Sodexo SA - Segment focus

• 11.16 Tenon Facility Management Pvt. Ltd. 
• Exhibit 119: Tenon Facility Management Pvt. Ltd. - Overview
• Exhibit 120: Tenon Facility Management Pvt. Ltd. - Product / Service
• Exhibit 121: Tenon Facility Management Pvt. Ltd. - Key offerings

• 11.17 Updater Services Ltd. 
• Exhibit 122: Updater Services Ltd. - Overview
• Exhibit 123: Updater Services Ltd. - Product / Service
• Exhibit 124: Updater Services Ltd. - Key offerings

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 125: Inclusions checklist
• Exhibit 126: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 127: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 128: Research methodology
• Exhibit 129: Validation techniques employed for market sizing
• Exhibit 130: Information sources

• 12.5 List of abbreviations 
• Exhibit 131: List of abbreviations

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