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Green Integrated Facilities Management (GIFM) Services - Strategic Analysis of the Asia Pacific Markets
Frost & Sullivan, Dec 2009, Pages: 50
As the green building market develops and grows in the region, green practices in facilities management will become popular. Green facilities management are required to earn and maintain green ratings in the buildings. Market for green facilities management services is at a very early stage of development in the region. Integrated facilities management service providers and property or asset management companies of international repute offer such services in the region. However, the participation from local participants is expected to increase as the awareness of green facilities management services grows in the region.
This Frost & Sullivan research service titled Green Integrated Facilities Management (GIFM) Services - Strategic Analysis of the Asia Pacific Markets provides an overview of the market and the market drivers, market restraints, industry challenges, growth trends, regional trends, analysis by sector and service types.
Market Overview
Governmental Efforts Buoy Prospects for the Green Integrated Facilities Management (GIFM) Services Markets in Asia Pacific
The market for GIFM services is in the early stages of development and a growth spike is expected alongside development in the green buildings market. Stringent energy efficiency and neutral carbon-emission regulations are providing steam for market momentum. Government and non-government organizations across various countries in the region are promoting the development of green buildings through legislations and incentives. Regulations such as Carbon Pollution Reduction Scheme (CPRS) and National Greenhouse and Energy Reporting Act 2007 (Australia) highlight the growing accent on energy efficiency. Owners of green buildings are required to adopt green practices in facility management to earn and maintain green ratings. With the development of the green buildings market, facility managers are becoming more aware of the GIFM services and their benefits. Apart from the green buildings market, the commercial and residential sectors offer huge opportunities for the GIFM services market. 'Growth in GIFM services market will be spearheaded by large IFM service providers of international repute,' notes the analyst of this research service. 'However, increased awareness and participation from local participants are seen in markets such as South Korea, Singapore, Hong Kong, and Australia.'
Although the prospects for the market look optimistic, there are some impediments slackening the pace of growth. The concept of GIFM is new and the economic benefits are not well understood by both the facility owners and IFM service providers. The level of awareness and knowledge regarding green practices in facilities management is low, especially in emerging economies such as Indonesia and Vietnam. Facilities management is often equated with routine services such as cleaning and security services in many countries. As the facilities management market in these countries are controlled by local specialized companies (such as cleaners, security service providers, and so on), professionalism in facilities maintenance is lacking. Another issue deterring market progression is the shortage of facility managers trained in green practices. On the supply side, FM service providers do not possess the skills necessary to bundle green practices with regular FM services. 'Niche participants offering specialized green FM services are direct competitors to IFM service providers that want to bundle green practices with their offerings,' says the analyst. 'To add value to their products, facility owners seek the services of niche participants because of their expertise and cost advantage.'
To achieve the cutting edge in this competitive space, it is imperative for participants to adopt a multi-pronged strategy. They should educate their customers about the benefits of green practices and join relevant associations such as green building councils. Moreover, they must identify potential clients such as healthcare and public facilities, where the demand for green FMS is likely to be high. GFIM services are poised for a huge leap forward and participants in this domain must be alert to the subtle nuances of the market, hire skilled resources and identify lucrative sectors, where the demand for such services is guaranteed to remain high.
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