Market Trends of Austria Facility Management Industry
This section covers the major market trends shaping the Austria Facility Management Market according to our research experts:
Commercial Buildings Remains the Largest Market Share Holder
- Commercial entities are office buildings built or inhabited by business services such as IT and communication corporate offices, manufacturers, and other service providers. Decoration and management have gained substantial importance due to the supply of essential fitments and interiors and commercial buildings, consequently pushing the market in the country's commercial sector.
- The rising need for customized solutions for various in-house and outsourced facility management is attributable to the expansion of Austria facility management services. Furthermore, the increasing number of commercial and residential buildings in key cities is driving up demand for facility management services throughout the country. Furthermore, increasing infrastructure development and a growing emphasis on integrated facility management services are expected to benefit the analyzed industry.
- Many projects in Austria have infrastructure works such as electrical substations, internal highways with loading and unloading places, networks for potable water, firefighting systems, irrigation, stormwater, and foul water, and their associated tanks. As a result, there is a greater need in the country for fire safety, electrical maintenance, technical support and maintenance, cleaning, HVAC, and other facility management services.
- The revenue of the industrial construction of residential and non-residential buildings in Austria is expected to increase signfiicantly. According to Eurostat estimates, it is projected that the revenue from the construction of residential and non-residential buildings in Austria will amount to approximately USD 17.77 billion by 2025. Moreover, Eurostat estimates that the construction revenue in Austria will amount to approximately USD 22.15 billion by 2025.
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Integrated Facility Management is Expected to Witness the Highest Growth Rate
- The market is experiencing a paradigm change as numerous sectors transition from a single FM outsourcing model to an integrated services model that can cover all of the key demands of clients on a big scale. Furthermore, with newer technology affecting the way businesses function, integrated facility management has emerged as the key to the country's smart buildings and workspaces.
- Integrated Facility Management brings all of the organization's office and property-related services and procedures under one contract and management team. It is a one-stop-shop for all of an organization's FM needs. A corporation might eliminate many, sometimes complicated, vendor contracts in favor of a single service agreement. It will also imply combining several duties performed by separate teams under a single roof.
- The Austria market is trending toward a shift from single services to bundled services, and then to an integrated facilities management strategy. This provides a broader range of services and longer-term contracts, which adds value while driving greater quality and economies of scale. This is also boosting the need for outsourced services requiring specialised knowledge.
- According to Eurostat, the revenue of computer facilities management activities in Austria will amount to approximately USD 817.98 million by 2025. Furthermore, the revenue of other building and industrial cleaning activities in Austria will amount to approximately USD 442.54 million by 2025.
