BusinessVibes Supports Global Facility Management Industry

After witnessing the significant growth of global facility management market over the recent years, the global B2B marketplace BusinessVibes is fully aware of the huge potential it has in near future, and has always been one of the major supporters for the global facility management industry. Therefore, as one of the leading media partners, BusinessVibes proudly support SMART Facilities Management Solutions Expo 2016 – the major tradeshow in Asia that integrates SMART solutions in the facilities management ecosystem into the entire value chain of social, transport, recreational and mission-critical facilities.

SMART Facilities Management Solutions Expo 2016 is set to return to the regional stage from 26 to 28 April 2016 at Sands Convention and Exhibition Centre, Singapore. Organised by SPHERE Exhibits, the event provides an ideal platform for suppliers, end users and professionals to network, exchange knowledge, share best practices and stay updated on the latest industry needs for future readiness, advice on all aspects of the aftercare and maintenance of facilities, and background in design and construction for better integration.

Facility Management industry, also known as the comprehensive coordination of construction, infrastructure, workforce and administrative organising in various of area, has seen a steady growth over the recent years, mainly driven by mass infrastructural development and technological advancements.

The latest market research reports that the global facility management market is estimated to surge from US$27.25 Billion in 2015 to nearly $50 Billion by 2020, with a Compound Annual Growth Rate (CAGR) of 12.7% over the next five years, according to the Markets and Markets.

The industry also sees new trends that facility management software and solutions are optimizing the utilization of resources and assets, which ultimately leads to reduced operational costs and enhanced profitability. Solutions such as maintenance management, asset management, and real estate portfolio management and are the top growing solutions in this market. As the operational costs decrease, the profitability of the organization will increase.

Meanwhile, factors such as increasing usage of smartphones, internet, and online businesses are also driving and changing the global facility management market. Currently, North America is the biggest facility management market due to increasing technological acceptance and high awareness about emerging facility concerns. However APAC and some countries of MEA are also expected to have tremendous growth in the market.