No one likes having multiple procedures to accomplish a single task & it is what brings the concept of IFM (Integrated Facilities Management), i.e., gaining ground across different countries, especially in the UAE, the financial hub of the Middle East. IFM is the amalgamation of all facility management tasks of an organization under one single unit to ensure the flawless functioning of a facility or building. These solutions provide several benefits cost & time savings, improved response time, & better decision-making, which allows companies to focus on their core business operations more efficiently.
With active efforts by the UAE government toward diversifying its economy away from oil & gas exports to service industries, the country has evolved dynamically in terms of its construction & industrial sectors, especially for IFM services. In view of this, a recent study by MarkNtel Advisors has predicted around 13.57% CAGR for the UAE Integrated Facility Management Market during 2022-27. With the growing focus of organizations on providing better quality services to their customers, they have started outsourcing their facility management tasks. As a result, there’s fierce competition between IFM service providers who are bringing innovations in their service offerings to gather a wider audience & generate better revenues.
How are advancements in technologies benefitting IFM service providers?
To stay ahead in fierce competition, facility management service providers are integrating advanced technologies like the IoT (Internet of Things), AI, & predictive analytics tools into their software in order to accomplish different tasks, boost workforce productivity, and enhance customer satisfaction.
Organizations are increasingly leveraging the benefits of predictive analytics to plan in the long term, replace dysfunctional equipment without creating downtime, and mitigate human errors through better decision-making. Similarly, using IoT in junction with AI, supply chain managers are now able to gain valuable insights into resource consumption, employee performance, & client satisfaction, among other crucial metrics.
Furthermore, facility management software integrated with cloud computing ensures the highest level of security with minimal deployment & operational costs. Cloud-based FM comprises advanced Machine Learning & Artificial Intelligence methods, which offer service providers better access to work-related data, remote monitoring & management of processes, and overall improved outcomes.
- In August 2020, Etihad ESCO (Etihad Energy Services Company) signed an agreement with Moro Hub to join the latter’s newly launched Smart Cities Command and Control Centre for leveraging its digital, cloud, & secured services in energy monitoring and facility management.
Clearly, IFM offers a simpler yet more comprehensive approach to an organization’s facility management program as it helps ensure quality operations, streamline the decision-making process, improve employee engagement, and ultimately increase productivity. It further eliminates the burden of FM tasks on a company’s superiors and enables them to focus on their core business operations.
More & more facility managers across the UAE are implementing IoT-based software to scale their businesses more efficiently and reduce operational costs while curating an agile working environment. These aspects are creating new avenues for the UAE Integrated Facility Management Industry to witness lucrative prospects in the years to come.