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Government Backing Gives a Boost to the Australian and New Zealand Facilities Management Market Finds Frost & Sullivan - Consumers have become more discerning and their preferences are constantly evolving, not only due to the countries' positive economic conditions, but also due to the growth in the construction sector
Government Backing Gives a Boost to the Australian and New Zealand Facilities Management Market Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Singapore, Singapore, 2010/11/24 - Consumers have become more discerning and their preferences are constantly evolving, not only due to the countries' positive economic conditions, but also due to the growth in the construction sector.

   
 
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Consumer choices regarding the outsourcing of facilities management (FM) in Australia and New Zealand are based on diverse factors such as regulations and costs.

New analysis from Frost & Sullivan (buildingtechnologies.frost.com), IFM Market in Australia and New Zealand, finds that the market earned revenues of $5.14 billion in 2009 and is likely to reach $7.87 billion in 2016 in Australia; in New Zealand, it was $1.22 billion in 2009 and is likely to reach $1.66 billion in 2016.

The FM markets in both countries have the strong backing of their governments and regulatory agencies. The efforts of bodies such as the Property Council of Australia have made the country one of the most sophisticated property sectors in the world, creating a plethora of opportunities for FM vendors.

Meanwhile, in New Zealand, green facilities management (GFM) has been garnering considerable attention due to its cost- and energy-saving features and thereby, gaining long-term investment potential.

End users in both countries prefer outsourcing GFM due to the high starting costs, which can be lowered by the FM companies. Moreover, these companies can provide consultations on the better utilization of GFM systems in different facilities.

"In Australia, the education and commercial office sectors remain the key outsourcing sectors for the FM market," says Frost & Sullivan Associate Janice Wung. "In New Zealand, the growth in the construction sector due to an increase in the number of buildings and the availability of advanced technology has stimulated the FM market."

However, the constructions sector's constant issues with the FM market, the economic slowdown, and the lack of qualified facility managers and skills development are restraining the Australian FM industry. The situation is similar in New Zealand, although the country has fewer regulatory hassles.

The proliferation of applications has compelled participants to equip their personnel with the required technology skills so that they do not become obsolete. Unlike in the neighboring countries, there are limited specialized FM courses in New Zealand and the awareness about the service is generally limited to property managers. This makes it difficult to recruit the right candidates.

In Australia, all building industry stakeholders such as contractors, architects, developers, building owners, and facility managers have to collaborate to bolster the FM market. It is essential to ensure that all parties interested in advancing any area that applies to construction, property ownership, or facility management concur on a single agenda, as it will create a powerhouse for addressing their vital issues.

The New Zealand market's prospects are bright as it is bound to expand with higher demand from end users and the passing of favorable regulations.

"The requirements of a facilities manager are not commonly standardized and certified in New Zealand due to the lack of an accreditation body for the FM," notes Wung. "The formation of Facilities Management Association New Zealand (FMANZ) speeds up the growth of this market and sets up a benchmark for FM practices in the country."

If you are interested in more information on this study, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state, and country.

IFM Market in Australia and New Zealand is part of the Building Management Technologies Growth Partnership Services program, which also includes research in the following markets: Residential Water Treatment Equipment Market in South Korea, IFM Market in South Korea, and Bottled Water Market in Indonesia. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.

IFM Market in Australia and New Zealand / P3EA

 
 
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Government Backing Gives a Boost to the Australian and New Zealand Facilities Management Market Finds Frost & Sullivan

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Publisher Contact: Donna Jeremiah / Carrie Low 
+603 6204 5832 / +603 6204 5910 djeremiah[.]frost.com / carrie.low[.]frost.com
 
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