Analysts at Ken Research in their latest publication “Philippines Facility Management Market Outlook to 2022- By Soft and Hard Facility Management Services, By Single Services, Bundled Services and Integrated Services and By Sectors (Commercial, Residential, Healthcare, Industrial and Infrastructure)” believe that focus on catering to the needs of different clients, educating the clients on task based and performance based contracts, focus on provision of hard services, partnering with smaller players for specific expertise and increasing corporate social responsibility activities will aid the providers of facility management services in Philippines to grow and achieve higher sales.
High-growth in the business process outsourcing (BPO) industry in the country, increasing number of multinational companies and expanding manufacturing sector in the country has driven the growth of facility management services market in Philippines.
Philippines Facility Management Market is still relatively nascent in the country and is in its initial growth stage. The people in the country do not usually outsource their facility management needs to FM firms and fulfill their service demand through internal labour or by contacting the OEM of the equipment for servicing for hard services. The market has witnessed a growth during the review period. Soft services dominated the market of facility management in Philippines as compared to hard services owing to development in sectors such as real estate, commercial and residential owing to Build, Build, Build program has amplified the demand for soft services in the country owing to rise in need for cleaning and security services. Single or bundled services are generally preferred by local businesses in the country while multinational clients in Philippines prefer IFM because it is more cost efficient. Also, commercial sector was the biggest end user for the facility management industry in Philippines.
The growth in the facility management market in Philippines was supported by the growth in demand for commercial space by multinational companies, especially in the BPO and services industry, along with factors like improved healthcare and increasing building efficiency in some areas in the country. The customers in the market are highly price sensitive and lack awareness about the importance of facility management services which has resulted in low penetration. The Integrated Facility management market is relatively nascent in the country and its penetration is low due to preference for single and bundled services by most end users, especially local companies. However, as the number of MNCs increase in the country, the demand for IFM is also expected to increase.
Key Segments Covered
By Soft Services and Hard Services
- Soft Services
- Hard Services
By Single Services, Bundled Services and Integrated Services
- Single Services
- Bundled Services
- Integrated Facility Services
- Commercial sector
- Residential sector
- Healthcare sector
- Industrial sector
Philippines Soft Services Facility Management Market is further Segmented
By Type of Services
- Others (Pantry Services, Waste Management, Landscaping, Courier Services, Reception Services, Mailroom and Other Services)
Philippines Hard Services Facility Management Market is further Segmented
By Type of Services
- Electromechanical Services
- Operational and Maintenance Services
- Fire Safety and Security Systems
Facility Management Companies:
ISS Facility Services Phils. Inc., JLL (Philippines) Inc., Sodexo (On-Site Services), Centuary Property Management Inc., Atalian Global Services, Santos Knight Frank, Philkleen Industries Corporation, Cleanmatic Manpower Services, Mansion Maintenance Co. Inc., Cushman Wakefield, Quess (Philippines) Corp, Paramount Property Management, JEC Philippines
To know more, click on the link below:
Ankur Gupta, Head Marketing & Communications
This post first appeared on Research News Today: Press Release Submission Site, India Global, please read the originial post: here