September 20196 According to ResearchAndMarkets.com, the global facility management market was valued at nearly $35 billion in the 2018, with the expectation to grow to $59.3 billion by 2023. At a Compound Annual Growth Rate (CAGR) of 11.4 percent, this makes it one of the fastest growing industries in the world.Alongside this trajectory of the industry, facilities management has picked up new pace with certain transformative trends that are believed to be critical in shaping the future of the industry. One such development is noticed in the value creation aspect of the industry.With people at its core, facilities management is one of the largest man power reliant industries. While it will undoubtedly continue to be so, the role of technology in empowering the facility team with valuable insights on the go is huge. This helps in not only identifying problems at break light speed and fast track troubleshooting, but also enables Facility Managers and CREs to create competitive value-add tenant solutions. Commercial buildings are more likely to make five times more investments in smart building and facility optimization technologies in 2019. With a unified facilities management technology on top of IoT-enabled real-time data, businesses can make their workforce, assets and energy smarter and achieve the best building performance. Clearly, every sign out there points to one thing ­ technologies like IoT and ML are set to transform how buildings will be managed in future, for good.Moreover, the use of devices connected to the Internet of Things (IoT) continues to increase, with Gartner predicting 20.4 billion connected devices will be in use by 2020. The application of this technology in the workplace allows employers to create more comfortable, energy-efficient workplaces that support a positive employee experience. For instance, the global headquarters of Johnson Controls, a strategic partner for CBRE, integrates the control and optimization of building functions ranging from fire protection, security and asset tracking systems, as well as lighting management, HVAC maintenance and smart parking.Nearly every aspect of facilities management is shifting to have a greater focus on connecting the people who work in the industry and those who are impacted by it. What these facility management trends demonstrate is both employers and solution providers are transitioning from prioritizing the transactional to the experiential. This edition brings you some of the most prominent organizations that specialize in facilities management landscape and have excelled with their solutions and will be major drivers of the aforementioned trends to mainstream.Let us know your thoughts!Annie Johnson To subscribe to APACCIOOutlookVisit www.apacciooutlook.comArt & GraphicsAmelia StewartFlynn SmythToby LangtonJie Ch'angManaging EditorAnnie JohnsonEditorialThe Changing Facet of the Facilities SectorSenior WritersLane Adams Clara MathewRoyce D'SouzaEditorialAlfred MardinLouis BeckerRachael ClarkRoy ChowDai ShihDan StanleyCopyright © 2019 ValleyMedia Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.SEPTEMBER - 16 - 2019, Volume 05 - Issue - 50 (ISSN 2644-2876)Published by ValleyMedia Inc.*"Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff"Emailsales@apacciooutlook.comeditor@apacciooutlook.commarketing@apacciooutlook.comSalesJames Williamjames@apaciooutlook.comAnnie JohnsonManaging Editoreditor@apacciooutlook.com
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