LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Integrated Facility Management Market - Procurement Intelligence Report.
In a bid to leverage expertise within a minimal cost, organizations in the developed economies are outsourcing facility management services to low-cost countries. This is exerting an impetus to the frequency of commercial activities conducted in the developing nations which are spurring the demand for integrated facility management suppliers. The adoption of advanced analytical tools and IoT is enhancing supplier performance which is further contributing towards the spend growth in the integrated facility management industry.
Organizations in the US are deepening their focus on bolstering the safety of premises and employees and to maintain compliance with the regulations. This focus is propelling the demand for the security services segment, thereby boosting the spend momentum in the integrated facility industry in the US. However, in Europe, a decline in market share in 2023 will offset the initial growth trend. Factors such as the ability of suppliers to enhance the cost-effectiveness and quality of their services and provide assurance of environmental sustainability to buyers will continue contributing towards the spend growth in the integrated facility management market in Europe.
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Key Findings:
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The growing shortage of skilled labor and the increase in employee wages due to growing stringency of regulations pertaining to employee benefits is expected to increase OPEX of suppliers. This is expected to drive procurement costs for buyers in the integrated facility management market.
- The price trends indicate a substantial hike in buyers’ procurement expenditure in the integrated facility management industry. One of the highly-implemented strategies to address this excess procurement spend is to partner with suppliers over long-term contracts. Such a strategic partnership will yield cost savings as well as result in the procurement of better quality of services in the long run. Buyers are advised to assess the supplier’s track record of long-term engagements. This will aid in determining the viability of engagement with such suppliers for a mutually beneficial relationship over a longer duration.
Uncontrolled procurement spend and the lack of visibility of the same is hitting the buyer’s business where it hurts the most. Subscribe to our free web-based platform to get instant and real-time insights on the price trends and procurement strategies that will change your procurement outlook.
- The market is currently dominated by industry-focused service providers. Top category service providers are acquiring niche integrated facility management firms to gain expertise and to expand their product portfolios. This procurement intelligence report covers the leading integrated facility management suppliers evaluating their operational and functional capabilities.
Other key topics covered in this report are:
- Integrated facility management market spend segmentation by region
- Total cost of ownership analysis in the integrated facility management market
- Regional spend opportunity for integrated facility management suppliers
- Integrated facility management suppliers cost structure
- Integrated facility management suppliers selection criteria
- Integrated facility management suppliers under coverage
- Procurement best practices
- Category management objectives
- Cost saving opportunities in the integrated facility management market
Now buy one report and get a 50% discount on the second or, download the free sample of this integrated facility management industry procurement intelligence report.
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