India Facility ManagementCompanies (2024 - 2029)

India Facility Management Market Companies Summary

Facility management firms in India are gaining popularity due to rapid urban development and a growing awareness of the advantages of outsourcing non-core business activities. The market is one of the largest for outsourced facility management services, with small local businesses focusing on single contracts and single-service solutions, while larger corporations operate with integrated contracts given by significant vendors. As the dynamics in the region change, opportunities arise to combine facility management and corporate real estate in innovative ways. The public sector is keen to reduce suppliers and costs, leading to a rise in bundled service contracts. Furthermore, companies are increasingly outsourcing all non-core business activities to a single service provider, allowing them to focus more on their main businesses. The COVID-19 pandemic has had a mixed economic impact on facility management companies in India. The limitations on people's movement resulted in a decline in project work and activity at several customer locations, negatively affecting major players in the market. However, the demand for soft services such as cleaning, recycling, security, pest control, handyman services, grounds maintenance, and waste management is growing. The adoption of the Internet of Things (IoT) is emerging as a significant driver in these soft services, enabling improved decision-making and work process optimization across various industry sectors. The consistent rise in commercial real estate is also anticipated to offer growth prospects for the incumbents.