Top 3 Emerging Trends Impacting the Facility Management Services Market in Europe from 2017-2021: Technavio

Technavio has published a new report on the facility management (FM) services market in Europe from 2017-2021. (Graphic: Business Wire)

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LONDON--()--Technavio’s latest report on the facility management (FM) services market in Europe provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

The FM services market in Europe has been expanding over the years and is expected to grow further during the forecast period. At present, FM services are not confined to a set of services, but have shown a vast growth and have entered almost every area to ease the lives of individuals. The market is evolving with the growing demand from private and public sectors. The customer expectation with the services has broadly increased. The ease of work, flexibility between work and private life, conservation of energy, and better risk management are the major drivers of the FM services market in Europe.

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The top three emerging trends driving the facility management services market in Europe according to Technavio industrial automation research analysts are:

  • Use of IoT and Big Data Analytics for optimizing resources
  • Better connectivity through XaaS
  • Conversational systems to better understand user needs

Use of IoT and Big Data Analytics for optimizing resources

Real-time monitoring of processes in a building is leveraged with IoT solutions. Smart sensors are being developed and used for remote locations in a building, as well as in parts like lighting, heating, ventilation, refrigeration, and air-conditioning. The main area of concentration for the residents in the buildings remains the over conservation of energy and noting down the areas where they can reduce the energy consumption. This can be done by leveraging IoT in buildings,” says Sushmit Chakraborty, a lead analyst at Technavio for research on automation.

The IoT devices remain interconnected with some vital areas of the building that leads to better utilization of resources. In terms of energy saving, the IoT devices are interconnected with self-powered meters. Smart sensors can control basic building elements like light, temperature, management of the run-time of escalators and elevators, and others, thereby reducing the energy consumption.

Better connectivity through XaaS

XaaS stands for Anything as a Service or Everything as a Service. It is the core of cloud-computing. With the help of cloud technology, the vendors provide the companies with several services over the Internet. XaaS services work on a platform called Service Level Agreement (SLA). Through SLA, the vendors and companies work together for the services required by the companies and to understand the proper flow of services that will be provided by XaaS.

SaaS is the software distribution model that enables the use of software for the users through the Internet. This decreases the company's effort in buying different software and enables it to run its own software,” adds Sushmit.

Conversational systems to better understand user needs

Conversational systems, also known as digital systems, intend to converse with humans logically to assist them. The specialty of these systems includes interaction between humans and machines through written or spoken natural language. The interaction might be a basic demand within an infrastructure rigged with conversational devices, such as opening the door for employees or residents, to gathering distinctly unpredictable data from many people, resulting in a highly-detailed set of data.

In FM, this technology can be used for analyzing people's behavior, their likes and dislikes, along with addressing various specific issues within an infrastructure and conveying them to the concerned authorities.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio’s latest report on the FM services market in Europe provides an analysis of the most important trends expected to impact the market outlook.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com