Growing Technology Trends In FM Market

Authored by Gaurav Bhalla, Managing Director, Enviro - facilities management wing of Vatika Group. With its strong infrastructural governance and a prominent existence over the last few decades, facility management estimates to grow from $34.65 Billion in 2018 and aims to reach 59.33 USD billion by the end of 2023, at a (CAGR) of 11.4 % . With such a substantial growth rate, it is however inevitable for FM to not grow with its offerings and future-proof businesses to withstand the impact of tomorrow. Where frameworks could only enjoy a handful of standard operational services, facility management industry has foraged for some fundamental driving forces that will escalate its impact by supporting the global society in a well mannered way. However, it is a thoughtful instinct to derive how some of the upcoming trends will impact the global facility management trends in the future and how the society’s future will be secured by cautiously hand picking these trends to boost the infrastructural potential to the most. Latest Trends In Facilities Management INTERNET OF THINGS In the adoption of the Internet of Things and connected devices for building automation across all of the industry for both hard or soft services, a rise in the development of sustainable infrastructure can potentially be witnessed fostering operational growth by streamlined mechanisms. Major usage of this is in Security & operations framework. LIVE CONSULTING   Access to portable devices makes remote task management a more defined process. With mobile access available 24-7, facility management trends ahead to provide consultation aid on issues that need to be controlled and resolved I real time. This process allows the flexibility to place service requests and track them from anywhere at any given time. DRONES FOR INSPECTIONS   Advanced technology has moved a level up by using drones to perform roof inspections without having to waste time or money on scaffolding. This is one of the major benefits that drones offer owners and operators of facilities and infrastructure and help with a major reduction in costs along with providing umpteen operational security and reducing inspection risks.   EMPLOYEE WELLNESS PROGRAMS    Facilities services will levitate its level of care for employees by incorporating all the possible means to keep them healthy. The services in offices will be highly advanced to ensure these employees are looked after well and the facility staff is available on toes to cater to any health related needs in case of emergency. This plan will be backed by periodic wellness programs that will change the monotonous work routine and inject enthusiasm in employees to be more productive.   GOING GREEN   Going green is taking over the world as a requirement, rather than an option. Businesses are beginning to ensure they are keeping track of new practices to build a safer operating environment. By incorporating green plants on work stations and surrounding the office premises with greenery, chances of a better health are most likely to improve in the future days.   INDIVIDUALIZATION   Countries with low to medium per capita income will continue to be affected by organizations and social relations. While organizations expect tailored products, services and solutions, FM services are expected to do so by providing individualized services which will make organizations experience better employee turnover as the demand for individual attention is covered by facility management.   Just as these budding trends paint a picture of what facility management services are uncovering in their domain, they are also setting a picture of what to expect from FM services in the future to come. Needless to say, the peaking numbers are already framing a successful scenario for broadening the scope of FM in a global context, where every framework will be an epitome of environment friendly, risk free and agile image of success.