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Vietnam Facility Management Market

Vietnam Facility Management Market

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Vietnam Facility Management Market, By Type (Inhouse Facility Management, Outsourced Facility Management); By Service Type (Hard Facility Management, Soft Facility Management, Others); By End User (Commercial, Institutional, Public/Infrastructure, Industrial, Others), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: June 2024
  • Report ID: BWC24452
  • Available Format: PDF
  • Page: 200

Report Overview

The rapid economic development and urbanization across the country and a growing emphasis on sustainability and energy efficiency are expected to boost the growth of Vietnam Facility Management Market during the forecast period between 2024 and 2030.

Vietnam Facility Management Market - Industry Trends & Forecast Report, 2030

Vietnam Facility Management Market size was estimated to be worth USD 275.19 million in 2023. During the forecast period between 2024 and 2030, the Vietnam Facility Management Market size is projected to grow at a CAGR of 5.09%, reaching a value of USD 348.34 million by 2030. Major growth factors for the Vietnam Facility Management Market include expanding construction activities and rising demand for improved working environments for higher productivity and satisfaction. In addition, the increasing adoption of advanced monitoring tools and cloud-based solutions is anticipated to provide lucrative growth opportunities to the Vietnam Facility Management Market during the period in analysis.

Vietnam Facility Management Market

Facility Management – Overview

Facility management encompasses operations, communications, security, and other aspects of managing a working or living environment. The term 'environment’ here refers to functions of infrastructure, real estate, buildings, and grounds. The facility management services provided fall under several subcategories depending on their work type. The subsegments are known as hard services and soft services. A hard service is a line of work that involves managing physical assets, while a soft service involves a set of duties performed by other people regularly.

Vietnam Facility Management Market

Growth Drivers

Rising Demand for Cloud-based Facility Management Solutions

Vietnam Facility Management Market is witnessing substantial rise in the demand for cloud-based facility management solutions. Cloud-based facility management solutions allows real-time data collection and track maintenance of operations. A cloud-based maintenance management system monitors maintenance plans and provides vital asset data instantly to assist in detecting problems before they result in broken equipment, lost production, and costly repair costs. Cloud-based facility management software facilitates real-time cooperation among maintenance teams by enabling numerous users to access and update information simultaneously. This enhances communication and improves the efficiency of daily operations.

Challenges

Shortage of Skilled Labor and Workforce

The rising demand for facility management services in Vietnam is limited by the lack of skilled labor and technical experts to efficiency operation and maintain these solutions. This has slowed down the adoption of these services among major end users, including large enterprises and public sector. In addition, the country lacks the executive-level technology skill sets and managerial backgrounds that large organizations require to handle complicated facility management systems. These concerns related to the availability of technical expertise are projected to limit the growth of the Vietnam Facility Management Market.

Vietnam Facility Management Market

Segmental Coverage

Vietnam Facility Management Market – By Type

Based on type, the Vietnam Facility Management Market is segmented into in-house facility management and outsourced facility management. The outsourced facility management service is further divided into single FM, bundled FM, and integrated FM. The in-house facility management segment holds the largest share in the Vietnam Facility Management Market. The organized sector has a significant demand for in-house soft services like cleaning, security, and post-management. As these services are needed on a regular basis, in-house services are the most practical and cost-effective option over the long term.

Vietnam Facility Management Market Growth

Vietnam Facility Management Market – By Service Type

Based on service type, the Vietnam Facility Management Market is divided into hard facility management, soft facility management, and other segments. The hard facility management segment accounts for the highest market share in the market by service type. These services include fire safety systems, building maintenance work, HVAC systems, gas, plumbing, and heating. The increasing construction of commercial and industrial facilities in Vietnam for infrastructure development and economic growth is boosting the demand for hard facility management services in the country.

Vietnam Facility Management Market – By End User

Based on end users, the Vietnam Facility Management Market is segmented into commercial, institutional, public/infrastructure, industrial, and others. The public/infrastructure segment dominates the Vietnam Facility Management Market. Facility management services have a high demand among public institutions, such as schools and hospitals, to ensure the safety and functionality of these spaces. In addition, stringent government regulations and rising investment in modernizing public infrastructure are also projected to drive the Vietnam Facility Management Market over the forecast period.

Competitive Landscape

Major players operating in the Vietnam Facility Management Market include CBRE Group Inc., Jones Lang LaSalle Incorporated, RCR Vietnam, Sodexo Inc., ADEN Vietnam, ATALIAN Global Services, AEON Delight, PMC, and P. Dussmann Co. Ltd.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2023

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

Revenue in USD Million

Product/ Service Segmentation

Type, Service Type, End User

Key Players

CBRE Group Inc., Jones Lang LaSalle Incorporated, RCR Vietnam, Sodexo Inc., ADEN Vietnam, ATALIAN Global Services, AEON Delight, PMC, P. Dussmann Co Ltd

 

By Type

  • Inhouse Facility Management

  • Outsourced Facility Management

  1. Single Facility Management

  2. Bundled Facility Management

  3. Integrated Facility Management

By Service Type

  • Hard Facility Management

  • Soft Facility Management

  • Others

By End User

  • Commercial

  • Institutional

  • Public/Infrastructure

  • Industrial

  • Others

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3.  Vietnam Facility Management Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Rapid Economic Development and Urbanization in Vietnam
        2. Growing Emphasis on Sustainability and Energy Efficiency
        3. Growing Demand for Commercial and Industrial Facilities
        4. Increasing Awareness of the Benefits of Facility Management
      2. Restraints
        1. Increased Instances of Data Breaches and Security Threats
        2. Lack of Skilled Professionals and Expertise
        3. Retrofitting Existing Buildings with BMS can be Disruptive and Costly
        4. High Cost of Facility Management Services
      3. Opportunities
        1. Government's Emphasis on Sustainable and Green Building Initiatives
        2. Growth of the SME Sector
        3. Outsourcing Trends
      4. Challenges
        1. Maintaining and Upgrading Aging Infrastructure is a Challenge
        2. Meeting Expectations of Building Occupants
        3. Competitive Landscape
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Vietnam Facility Management Market: Marketing Strategies
  5. Vietnam Facility Management Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
    2. Market Share and Forecast
      1. By Type
        1. Inhouse Facility Management
        2. Outsourced Facility Management
          1. Single Facility Management
          2. Bundled Facility Management
          3. Integrated Facility Management
      2. By Service Type
        1. Hard Facility Management
        2. Soft Facility Management
        3. Others
      3. By End User
        1. Commercial
        2. Institutional
        3. Public/Infrastructure
        4. Industrial
        5. Others
  6. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Vietnam Facility Management Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  7. Impact of Escalating Geopolitical Tensions on Vietnam Facility Management Market
  8. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. CBRE Group Inc.
    2. Jones Lang LaSalle Incorporated
    3. RCR Vietnam
    4. Sodexo Inc.
    5. ADEN Vietnam
    6. ATALIAN Global Services
    7. AEON Delight
    8. PMC
    9. P. Dussmann Co. Ltd
    10. Other Prominent Players
  9. Key Strategic Recommendations
  10. Research Methodology
    1.    Qualitative Research
      1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.    Breakdown of Primary Research Respondents, By End User
    5.    Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

 

List of Figures

 

Figure 1       Vietnam Facility Management Segmentation

Figure 2       Vietnam Facility Management Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       Vietnam Facility Management Market Size, By Value (USD Million), 2019–2030

Figure 5       Vietnam Facility Management Market Share, By Type, By Value, 2019–2030

Figure 6       Vietnam Facility Management Market Share, By Service Type, By Value, 2019–2030

Figure 7       Vietnam Facility Management Market Share, By End User, By Value, 2019–2030

 

List of Tables

 

Table 1        Vietnam Facility Management Market Size, By Value (USD Million), 2019–2030

Table 2       Vietnam Facility Management Market Share, By Type, By Value, 2019–2030

Table 3        Vietnam Facility Management Market Share, By Service Type, By Value, 2019–2030

Table 4        Vietnam Facility Management Market Share, By End User, By Value, 2019–2030

Table 5         CBRE Group Inc. Company Overview

Table 6         CBRE Group Inc. Financial Overview

Table 7         Jones Lang LaSalle Incorporated Company Overview

Table 8         Jones Lang LaSalle Incorporated Financial Overview

Table 9         RCR Vietnam Company Overview

Table 10      RCR Vietnam Financial Overview

Table 11      Sodexo Inc. Company Overview

Table 12      Sodexo Inc. Financial Overview

Table 13      ADEN Vietnam Company Overview

Table 14      ADEN Vietnam Financial Overview

Table 15      ATALIAN Global Services Company Overview

Table 16      ATALIAN Global Services Financial Overview

Table 17      AEON Delight Company Overview

Table 18      AEON Delight Financial Overview

Table 19      PMC Company Overview

Table 20      PMC Financial Overview

Table 21      P. Dussmann Co. Ltd Company Overview

Table 22      P. Dussmann Co. Ltd Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: Vietnam Facility Management Market size was estimated at USD 275.19 million in 2023.
Ans: Vietnam Facility Management Market size is expected to grow at a CAGR of 5.09% during the forecast period between 2024 and 2030.
Ans: Vietnam Facility Management Market size is forecast to reach a value of USD 348.34 million by 2030.
Ans: Major factors driving the growth of the Vietnam Facility Management Market include rapid economic development and urbanization in Vietnam and growing emphasis on sustainability and energy efficiency.
Ans: The public/infrastructure segment holds the highest market share in the Vietnam Facility Management Market by end user.
Ans: The hard FM segment is expected to grow at the highest CAGR in the Vietnam Facility Management Market during the forecast period between 2024 and 2030.