FUTURE OF FACILITY MANAGEMENT INDUSTRY IN INDIA - HANDIMAN
The Indian Facilities Management (FM) industry is in the midst of rapid developments in end-user industries, which has led to the considerable growth of commercial activities in metropolitan areas such as Delhi /NCR, Mumbai, Hyderabad, Pune, Chennai, and Bengaluru. According to a Technavioreport, analysts forecast a CAGR of 17.19% for the Indian FM industry, over the next three years. In effect, facility management companies are steadily gaining popularity among commercial as well as residential clients, driven by modernization and urban development. The southern, western and northern regions pose as potential growth areas due to their ability to attract more real estate investments. Growth opportunities The growth in real estate will be paired with a preference towards a safe, clean and secure environment, especially in the residential sector. Beyond the Tier 1 metros, demand is also expected to increase from the tier II and tier III cities due to increased business a...