India's facility management market to grow at 17 per cent CAGR and cross US$ 19 billion by 2020

Guwahati: The Indian facilities management market is estimated to grow 17 per cent CAGR between 2015-2020 to cross US$ 19 billion mark owing to various factors such as boom in real estate, increasing awareness levels, growth in retail and hospitality sectors, as per a report by Global Infrastructure Facilities and Project Managers Association (GIFPMA. A survey of HR departments of 300 companies across India revealed the expectations from manpower employed in facilities management. 87 per cent of the respondents expect knowledge of basic English and dress code, 73 per cent expect tidiness and basic etiquettes and almost 93 per cent are concerned about the police verification of the people deployed at sites. Presently, 80 per cent of the services offered by facilities management companies are on a sub-contractual basis, but as organised players are entering the market, it is expected that the trend will shift towards integrated facility management in future.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.