Indian FM market to hit £12b by 2020
The value of the Indian facilities management market is predicted to grow by almost a fifth over the next five years, hitting $19b (£12b) by 2020.
The report, carried out by the Global Infrastructure Facilities and Project Managers Association (GIFPMA) also found that the overall share of India’s GDP held by the services sector has almost doubled from 33.3 per cent in 1950 to 64.8 per cent today.
Soft services in the country are dominated by housekeeping and security, which between them hold 79 per cent of the market. HVAC meanwhile occupies over 90 per cent of the hard services market.
More than 60 per cent of these services are currently provided in house but this is a trend that is changing rapidly.
Research also found out that, currently 80 per cent of the services offered are on a sub-contractual basis, but it is expected that the trend will shift towards integrated facility management as organised players are entering the market.
Indian FM market to hit £12b by 2020
The post Indian FM market to hit £12b by 2020 appeared first on FMJ.
Source: FMJ
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