The Malaysia Facility Management Market is set to register around 5.67% CAGR during 2023-28, says MarkNtel Advisors in their recent research report. Various government initiatives toward constructing smart cities & expand the tourism industry, coupled with the increasing number of warehouses owing to the booming e-commerce sector, are the prime aspects projected to drive the facility management market in Malaysia through 2028. Furthermore, various ongoing & upcoming commercial construction projects on account of the flourishing hospitality & educational sectors are also elevating the demand for facility management services in the country to ensure effective support for the functionality, safety, & sustainability of buildings.
In addition, technological advancements like the mounting adoption of AI & IoT into these services for ensuring improved efficiency & a high level of customer satisfaction are further creating lucrative prospects for the key companies operating in the facility management market across Malaysia, as implementing AI algorithms helps organizations reduce the operational costs of HVAC, security, and other systems while boosting their overall efficiency.
Hard Facility Management Services to Continue Dominating the Malaysian Market
Hard facility management services are witnessing high demand in Malaysia. It owes to the rapidly increasing infrastructure development activities, particularly associated with the residential, energy, & commercial sectors, coupled with active government efforts toward expanding the travel & tourism industry. Moreover, increasing investments by both the government & private companies in the country's highly efficient healthcare industry are also augmenting the demand for hard facility management services, such as HVAC, building maintenance, lighting & electricity, plumbing, etc.
Dramatically Rising Popularity of Integrated FM Services
Integrated FM comprises multiple services bundled under one subscription with reduced overall contract prices. As the country is undergoing significant developments across different sectors, including business, retail, healthcare, & hospitality, the demand for integrated services for cost-efficiency & streamlined communication is rapidly accelerating. Moreover, the leading players are actively working on bringing more innovative & effective service offerings in order to cater to the ever-growing end-user requirements, i.e., another factor projected to amplify the demand for integrated facility management market in Malaysia over the coming years.
The key companies operating in the Malaysia Facility Management Market include JLL Facility Management, AWC Berhad, Sepadu Group, Harta Maintenance Sdn Bhd, Zelan AM Services Sdn Bhd, and PMC Facilities & Real Estate.
Key Questions Answered in the Research Study: