Market Size of Taiwan Facility Management Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Taiwan Facility Management Market Analysis
The Taiwan Facility Management Market is expected to grow at a CAGR of 2.50% over the forecast period 2022 to 2027. Taiwan is supposed to be one of the biggest outsourced markets for facility management services in terms of maturity and sophistication.
- Digitalization has been changing and penetrating all industries and businesses, including the FM industry, since the outbreak of the Covid-19 crisis, trends such as paperless offices, mobile working, and video conferencing. Technological advances such as artificial intelligence, cloud computing, and IoT have created a whole new range of levels for productivity improvement across the Globe. Bringing all these two factors together - the acceptance and availability of new technologies - raises the expectation that significant disruptions will bring significant productivity improvements to industries such as Facility management.
- Sustainability awareness significantly impacts the Taiwan FM market's value and service needs. With the increase in CO2 emission from the end-user industry, there is more and more requirement for FM businesses to tackle the situation in innovative ways with better business models and technology in workplace management.
- The country has been expanding its economy by investing in commercial and infrastructural projects, which will lead to the FM industry's progress in the region. For instance, Government agencies proposed an NTD 180 billion infrastructure development plan for the fourth phase of the country's forward-looking infrastructure development plan. These developments will require facility management services to maintain sustained building structures that are expected to drive the growth of the market.
- The FM Industry in Taiwan has been experiencing a shift toward adopting new technologies. With this comes challenges like successfully integrating technology with humans in an effective and cost-efficient way and Interpreting data in meaningful structures which could be easily interpreted by people working in the industry.
- The outbreak of COVID-19 has had a mixed business impact on facilities management firms in Taiwan, with halted business. The FM Industry has been able to cope with new regulatory laws and Framework compliance like ISO 41001 and ISO 41000. The restrictions on the movement of people resulted in a decline in project work and a decreased level of activity across many customer sites. Significant players in the market, such as CBRE Group, Diversy Holdings Ltd, and others, were adversely affected due to the pandemic lockdown.
