Japan Facility Management Market to be dominated by Commercial sector till FY2027
Ongoing technological
advancements and the infrastructure development is expected to drive the demand
for Japan facility management market in the forecast period.
According to TechSci Research report, “Japan
Facility Management Market By Organized Vs Unorganized, By Outsource Vs
Inhouse, By Service (Property, Cleaning, Security, Catering, Support and
Others), By Application (Commercial, Residential, and Industrial), By Region,
Competition Forecast & Opportunities, FY2027”, the Japan facility
management market is expected to witness a growth of steady CAGR for the
forecast period, FY2023-FY2027. The facility management industry is defined as
providing the required maintenance support, project management, and user
management to the organizations. The rise in the investments made by the
leading authorities for the country's infrastructure development to boost the
economy is contributing to the Japan facility management market growth. The
growing energy, construction, and transportation sectors create lucrative
opportunities for the Japan facility management market. The surge in the
efforts made by the government to make the tourism industry one of the major
revenues generating industries is expected to bolster the demand for the Japan
facility management market. The lowering of the currency value of the country
and the rise in awareness about the benefits of inbound tourism is expected to
foster the market demand for the next five years. The rapid occurrence of natural disasters in
the regions is leading the authorities to make arrangements for continuous
power generation and the building of strong infrastructure to prevent huge
losses of lives and property. The digital tools present in the smart cities
could alert the residents and authorities to take action to ensure minimal
loss. Japan is a high-tech data-driven next-generation country that makes the
use of big data, artificial intelligence, internet of things for the
development of society 5.0, which incorporates all the modern technologies to
provide enhanced service to its residents is expected to fuel the adoption of
facility management services to improve the results and manage everything
efficiently.
However, the rise in concerns regarding the safety and
security of the devices may restrain the Japan facility management market
growth for the forecast period.
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Japan
facility management market is segmented into organized Vs unorganized,
outsource Vs in-house, service, application, regional distribution, and
company. Based on service, the market is divided into property, cleaning,
security, catering, support, and others. The property segment is expected to
hold the largest market share for the forecast period, FY2023-FY2027. Property
management is the maintenance of residential, commercial, or industrial real
estate by a third-party facility management team. They take the responsibility
of day-to-day repairs, maintenance, security, and upkeep of properties.
Development of the industrial and commercial sector of the country in addition
with the rise in the per capita income of the consumers and availability of
easy financing options to avail real estate properties is expected to influence
the market demand for the next five years.
Based
on outsource Vs inhouse, the market is expected to be dominated by inhouse
segment for the next five years. The prevailing culture of doing business in
the country is fostering the demand for inhouse business segment. Frequent
occurrence of natural calamities such as earthquakes and Tsunami in the region
requires the maintenance of the buildings. The prevention of emergency services
plays a crucial role in outsourcing businesses.
Globeship
Sodexo, JLL Japan, Seiyo Food-Compass Group,Inc., CBRE Japan, Cushman &
Wakefield, RISE Corp. Tokyo, Savills Japan Co., Ltd., Jones Lang LaSalle Japan,
NIPPON KANZAI Co., Ltd., Taisei Oncho Co Ltd, BikenTechno Corporation Ltd.,
Asante Inc., Arukusu KK, Kyokuto Kaihatsu Kogyo Co. Ltd., Meiho Facility Works
Limited are the leading players operating in Japan facility management market. Manufacturers
are increasingly focusing on research and development process to fuel higher
growth in the market. To meet evolving customer demand with respect to better
efficiency and durability, several facility management manufacturers are coming
up with their technologically advanced offerings.
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“The
high adoption of cloud-based solutions by the organizations to reduce the
operating costs and improve the security and collaboration between sources
present at different locations fuel the demand for Japan facility management
market. Cloud-based facility management solutions also provide enhanced scalability,
secure critical data hosting, and quick disaster recovery. The adoption of
integrated facility management services by the organizations is still at a
nascent stage in Japan, and the rise in the use of cloud-based solutions is
expected to propel the Japan facility management market growth till FY2027” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Japan Facility
Management Market By Organized Vs Unorganized, By Outsource Vs Inhouse, By
Service (Property, Cleaning, Security, Catering, Support and Others), By
Application (Commercial, Residential, and Industrial), By Region, Competition
Forecast & Opportunities, FY2027” has
evaluated the future growth potential of Japan facility management market and
provided statistics & information on market size, shares, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of Japan facility
management market.
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