| | AUGUST 20208VANTAGE POINT he pandemic we are living through will have a long-term impact on how we live and work, even as restrictions are lifted and things get `back to normal'. It has accelerated the trends towards remote working, flexibility in opera-tions and online shopping. The current scenario has also made us examine closely how we use our environment, interact with others, and re-assess what is `safe' and `clean'. This is a huge opportunity for FM companies to showcase their solutions and emerge as a strategic partner for customers in different sec-tors. According to a study done by Research and Markets, the global facilities management industry will grow at a CAGR of 11.4 percent and is estimated to reach USD 59.33 billion by the year 2023.Here is a roundup of the latest trends in the facilities manage-ment industry:· Outsourcing of FM services ­ With ongoing pressure to re-duce operating costs, organizations today are evaluating their operating model. Their approach to outsourcing has broadened as they begin to view facilities management service providers as a strategic partner and maximise value creation. Outsourcing is increasingly delivering more complex services. The facilities management model has come a long way and is now capable of providing value that is far beyond simple cost savings.· Data-driven decision making - Data from IoT devices and facility management software helps facilities managers under-KEY TRENDS SHAPING THE FACILITIES MANAGEMENT INDUSTRY By Manoj Parekh, Managing Director, OCS Group India T
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