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