DUBLIN–(BUSINESS WIRE)–The “Southeast Asia Facility Management (FM) Technology Innovation and Growth Opportunities” report has been added to ResearchAndMarkets.com’s offering.
This study analyzes the Southeast Asia FM market; it pays attention to smart FM and FM technologies and covers market growth drivers and restraints, forecasts, trends, and the competitive landscape. The study also provides a regional outlook and offers profiles of FM leaders and innovators in the region, with 2022 as the base year. The research service also identifies the 3 key growth opportunities.
The Southeast Asia (SEA) facility management (FM) market is growing, supported by the high construction and renovation activity in the region due to the rapid urbanization and the expansion of smart buildings.
The adoption of advanced technologies in building services is also witnessing rapid growth. In addition, government regulations for energy efficiency and energy performance are pushing companies to adopt smart and innovative technologies to achieve energy targets. The regulatory framework in SEA is evolving and, coupled with the rising awareness of the benefits of smart FM among building services stakeholders, the overall industry is moving toward high-technology adoption.
However, the perceived high costs or investments associated with technology implementation by both customers and FM participants are hampering the adoption of innovative technologies in building services. Furthermore, the lack of qualified experts who can facilitate smart FM services is holding back FM advancement in SEA. Growth is also hampered by cybersecurity concerns, which prevents the adoption of smart FM.
Outsourcing rates across countries vary significantly depending on market maturity and end-user profiles. Before the COVID-19 pandemic, the market enjoyed strong outsourcing growth due to the large penetrable asset base and the continuous construction activities, particularly in developing economies.
SEA prefers single services. Basic soft and hard FM services, such as cleaning, security, and M&E services, are most requested by end users. However, due to price sensitivity, FM service providers are less willing to introduce technology-driven solutions. In addition, intense price competition is common as market participants strive to retain customers.
Market participants should also prepare to assist large and mature corporations or end users that are inclined to adopt sustainable practices (energy efficiency, for example) in their business operations. This trend will prompt FM service providers to enhance their services to become technology-driven companies.
Key Topics Covered:
1. Strategic Imperatives
2. Growth Opportunity Analysis
3. Regional Outlook
4. FM Leaders and Innovators
5. Case Studies
6. Growth Opportunity Universe
For more information about this report visit https://www.researchandmarkets.com/r/a5hyke
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