Global Market Research Company US China Facility Management Market Forecast & Opport | Page 6

Service Overview
•
According to the International Facility Management Association (IFMA),
“Facility Management (FM) is a profession that encompasses multiple
disciplines to ensure functionality of the built environment by integrating
people, place, process and technology”. In brief, facility management is
a discipline used to support the core activities of any company, which
primarily include services such as property, cleaning, security, catering
and support, among others.
•
Facility management services are essential for the effective operation of
any business, as they ensure the smooth functioning of an organization
and assist it in focusing on its core business competence. Organizations
are outsourcing these services from specialized facility management
companies, which provide cost-effective and specialized solutions in this
area.
•
Facilities include residential, commercial and industrial infrastructure
where equipment and physical assets should be maintained in proper
operating conditions. The physical infrastructure is required to be taken
care of in order to conduct hassle-free business operations.
•
The
scope
of
facility
management
services
increases
with
the
development of public and private infrastructure. The increase in
business activity leads to expansion in the complexity of infrastructure
and assets pertaining to the business. Thus, increased complexity of
infrastructure and assets calls for facility management services.
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