Singapore
The third party integrated facilities management (IFM) service market is growing in Malaysia and presents many opportunities still as market penetration currently remains below 25 percent. One of the main drivers impacting the IFM industry in Malaysia is the government's outsourcing practice to local bumiputera companies and the expectation that more contracts will be tendered out. As the commercial and education sector are heavily pushing third party facilities management, outsourcing to third party players remains strong compared to typical in-house management.
New analysis from Frost & Sullivan (www.environmental.frost.com), Integrated Facilities Management Service Market, reveals that the market earned revenues of $268.1 million in 2006 and is estimated to reach $535.0 million in 2013.
"Government privatization and corporate restructuring is expected to benefit the third party facilities management market," says Frost & Sullivan Research Analyst Terrence Duncan. "The combination of outsourcing and privatization is boosting demand for IFM services and driving revenue within the industry in Malaysia."
Integrated facilities management involves mostly non-core activities like janitorial and engineering services; the government and other private establishments prefer to outsource these activities. Most establishments are focusing solely on its core activity and benefit from specialization.
However, the level of awareness with regards to third party facility management is still lacking within Malaysian establishments. This suggests that there is still a huge opportunity yet for third party facilities service providers to benefit from the Malaysian market.
"More than 50 per cent of facilities management services in various segments are still performed in-house or within a subsidiary company," explains Duncan. "Organizations are not fully benefiting and enjoying specialized third party integrated facilities management services."
Realizing the full potential of taking up third party IFM services will eventually benefit the entire organization in the long run. In addition, finding the right partner and carefully negotiating FM contracts will benefit a company's bottom line.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the Integrated Facilities Management Service Market, then send an e-mail to Donna Jeremiah, Corporate Communications, at djeremiah@frost.com with your full name, company name, title, telephone number, fax number, and e-mail address. Upon receipt of the above information, an overview will be sent to you by e-mail.
Integrated Facilities Management Service Market is part of the Building Technologies Growth Partnership Service program, and it provides a market forecast of the industry and major participants attending to the business. In this study, Frost & Sullivan's expert analysts thoroughly examine the following markets: education, healthcare, the government, and commercial sectors. Interviews with the press are available.
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Integrated Facilities Management Service Market
P09C-19
Contact:
Donna Jeremiah
Corporate Communications - Southeast Asia
+ 603 6304 5832
djeremiah@frost.com
Johanna Haynes
Corporate Communications - North America
+ 1 210 247 3870
johanna.haynes@frost.com
Chiara Carella
Corporate Communications - Europe
+ 44 (0) 20 7343 8314
chiara.carella@frost.com
Source: Frost & Sullivan (Business Wire India)