Vietnam Facility Management Market will be driven by End Users (Commercial, Industrial and Hospitality) coupled with Rising Demand of Integrated Facility Management: Ken Research

“As cost management and quality continue to be key concerns for many businesses in the region, IFM service providers have been striving to offer service standardization as well as significant cost, energy, and operational efficiencies for end users”.

The report titled Vietnam Facility Management Market Outlook to 2023 – By Single, Bundled and Integrated Services; By Soft Services (Housekeeping, Security, Landscaping and Others) and Hard Services (Electromechanical Services, Operations and Maintenance Services, Fire Safety and Security Systems), By End User Sectors (Commercial, Industrial, Hospitality, Residential, Infrastructure and Others)by Ken Research suggested that the facility management market in Vietnam has been growing due to rapid urbanization, growing  awareness amongst the end users of the benefits of such service and adoption of technology to improve the quality of services. The market is expected to register a positive CAGR of 6.0% in terms of revenue during the forecast period 2018-2023E.

Higher inflow of Foreign Direct Investment: The number of projects attracting FDI has grown at a CAGR of 8.8% during the period 2013-2018. The manufacturing and processing industry is set to receive the largest amount of investment (77.7% of total FDI inflow), followed by real estate (7.2%) and professional activities, science and technology (3.5%). Hong Kong was the biggest source of FDI pledges in the first three months of 2019 (47%of total FDI inflow), followed by Singapore (13.0%) and South Korea (12.0%). This will not only increase production in the economy but will also give rise to more employment, thereby raising the standard of living and affordability of facility management services.

Dependence on In-house Personnel: In-house Personnel has contributed above 50% in facility management industry revenue in 2018 due to lack of strong domestic players and major companies of the Facility Management industry in Vietnam rely on In-house personnel to cater to the diverse needs of the clients. However, there has been an increasing trend to outsource personnel across commercial, residential, industrial and infrastructure sectors due to increased scale of operations.

The Commercial sector is the highest seeker of FM Services: Commercial sector contributed the highest revenue share of over 35% to the overall facility management industry in Vietnam in 2018. The commercial sector has a major share in the country’s GDP. The growth of office spaces can be justified by population growth, rapid urbanization, declining unemployment rates and lower interest rates. In addition to this, commercial spaces are highly potent to demand integrated facility management services.

Vietnam Facility Management Industry

Rising Demand of Integrated Facility Management (IFM) Services: The primary challenge faced by the facility management industry in Vietnam is the lack of awareness of Integrated Facility Management Services (IFM) and the benefits that it offers resulting in the low penetration in the market. However, the trend is changing and clients are becoming more inclined towards IFM services as they are cost efficient and improve operational efficiency. In future, it is anticipated that IFM services will contribute ~12.0% share in generating revenues for the facility management industry by 2023E.

Key Segments Covered:-

By Soft Services and Hard Services

Soft Services

Cleaning services

Security Services

Others

Hard Services

Electromechanical Services (including HVAC)

Operational and Maintenance Services

Fire Safety and Security Systems

By Type of Services:-

Single Services

Bundled Services

Integrated Facility Services

By End User Sectors:-

Commercial Sector

Residential Sector

Retail Sector

Industrial Sector

Infrastructure And Others

Key Target Audience:-

Facility Management Companies

Real Estate Construction Companies

Foreign investors

Time Period Captured in the Report:-

Historical Period: 2013-2018

Forecast Period: 2018-2023E

Companies Covered:-

JLL

CBRE

RCR Resolve FM Vietnam

Sodexo

Aden

Atalian

Savills

Aeon Delight

PMC

  1. Dussmann Co. Ltd.

Keywords:-

Vietnam Facility Management Market

Facility Management Industry In Vietnam

Vietnam Soft Services Market

Vietnam Hard Services Market

Vietnam Electromechanical Services

Facility Management Industry Asia

Vietnam Fire Safety and Security Systems

Residential Facility Services Vietnam

Commercial Facility Services Vietnam

Vietnam Infrastructural Projects

Vietnam Residential Projects

Vietnam Commercial Projects

Vietnam Integrated Facility Market

Savills Facility Management Market

For more information, refer to below link:-

Vietnam Facility Management Market

Related Reports:-

Australia Facility Management Market Outlook To 2023 – By Single, Bundled And Integrated Services, By Soft (Cleaning, Security and Other Services) and Hard Services (Electromechanical, Operations And Maintenance, Fire And Safety), By End User Sectors

Indonesia Facility Management Market Outlook To 2023 – By Single, Bundled And Integrated Services; By Soft Services (Housekeeping, Security, Landscaping And Others) And Hard Services (Electromechanical Services, Operations And Maintenance Services, Fire Safety And Security Systems), By End User Sectors (Industrial, Commercial, Residential, Infrastructure And Others)

Philippines Facility Management Market Outlook To 2022 – By Soft And Hard Facility Management Services; By Single Services, Bundled Services And Integrated Services And By Sectors (Commercial, Residential, Healthcare, Industrial And Infrastructure)

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s