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Self-delivery and Technology-driven Solutions to Support FM Market Growth
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The need to ensure compliance and the drive to extend asset life continue to support growth of the facilities management (FM) market in Australia.
Stable demand from certain end user sectors will underpin FM revenues. Recovery in the mining sector and continued growth in healthcare services point to positive FM growth. However, skilled labor shortages, inadequate process frameworks and practices, as well as pricing pressure continue to restrain FM market revenue growth.
The outsourcing outlook is likely to depend on whether the model can deliver value-for-money services for organisations, especially in public-private partnerships, as FM customers take stricter asset life cycle cost approaches in evaluating service value.
Customers today are moving away from engaging multiple providers and instead toward consolidated, integrated, single-provider FM procurement. With the anticipated prolonged shortage of skilled labor, large-scale contracts can ensure that the accountability for workforce quality and quantity can be monitored at a single source. However, despite the dominance of large FM service providers, the market in Australia remains fragmented. The market shares of the several prominent industry participants are unlikely to change drastically although there will be some degree of consolidation as acquisitions are made.
Amid growing integration in the FM industry, pricing and self-delivery are key competitive factors. Pricing, in particular, is likely to remain a crucial determinant as customers consider their assets’ total cost of ownership. The ability for FM providers to self-deliver a variety, if not all, facilities services is increasingly necessary. The need for compliance, standardisation, and predictability of services are driving this move.
The emergence of smart city projects is set to propel the market as facility owners seek capabilities beyond those available in-house. Also, workplace transformation will require workplace management flexibility and solutions that FM providers can offer. Increasingly connected built environments and the leverage of digital technology solutions will present significant opportunities for FM providers to develop adjacencies and new services that can drive revenues as well as competitive differentiation.
Finally, Australia presents significant opportunities for improvements in overall sustainability and in particular, energy efficiency of the built environment, suggesting long-term prospects for FM providers with expertise in energy efficiency technologies and advisory services.
Market estimates, growth estimates, and segmentation are based on existing data, secondary research, and information gathered from interviews in 2019. The base year for this research service is 2018. The study period is 2016–2025.
Apart from outlining key drivers and restraints to market growth, this study forecasts market growth and discusses segmentation by in-house versus outsourced FM expenditure, integrated FM versus other FM (single and bundled services), hard versus soft FM, as well as FM market growth and trends by major end-use sectors. It also provides insights into digital technology tools being leveraged to improve FM delivery outcomes. Finally, analysis is provided of market shares of key competitors and competitive factors impacting competitive advantage.
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