India Facility Management Market Size

India Facility Management Market Analysis

The India Facility Management Market size is estimated at USD 148.65 billion in 2024, and is expected to reach USD 212.12 billion by 2029, growing at a CAGR of 7.37% during the forecast period (2024-2029).

FM encompasses all aspects of managing a building, an organization's infrastructure, and the overall coordination of the workplace. This system streamlines processes and standardizes services for an organization.

• Facility management in India is increasingly gaining popularity due to rapid urban development, the booming construction sector, increasing emphasis on green buildings, and a growing awareness of advantages arising from outsourcing non-core business activities.
• Regarding sophistication and development, India is one of the largest markets for outsourced facility management services. Small local companies focus on single contracts and single-service solutions, while the region's FM business operates with integrated contracts given by significant vendors from different continents. Given the changing dynamics in the region, there are more chances to combine facility management and corporate real estate in novel ways.
• The public sector clients are eager to reduce the number of suppliers and decrease costs. Therefore, bundled service contracts are expected to profit from the budget cuts, keeping with the ongoing efforts of many government agencies to streamline their operations. As the need for total facility management (TFM) grows, public sector firms in the region are progressively outsourcing all "non-core business activities" to a single service provider, allowing them to focus more on their core businesses.
• Moreover, the need for enterprises to evaluate possible cyber risks across their OT environments and take action to strengthen their security posture is more than ever as IT and OT systems continue to converge. Facility managers may offer crucial insider advice in developing and implementing a diligent cybersecurity plan to safeguard critical OT systems as the threat landscape continues to change at an alarming rate.
• The COVID-19 pandemic had a mixed economic impact on FM companies in India. Limiting people's movement resulted in declining project work and activity at several customer locations. The pandemic lockdowns harmed significant companies in the market, including BVG, CBRE Group, and others.