Southeast Asia Facility
Management Market is anticipated to grow at a high CAGR in the forecast period
2024-2028. Key
factors propelling the growth of Southeast Asia facility
management market are rising trend of business outsourcing to a third party and
awareness regarding the benefits of outsourcing. Moreover, increasing number of
organizations in the region and growing demand for standardization of services
are aiding Southeast Asia facility
management market. In addition to this, trend of outsourcing support services,
increasing adoption of facilities management services are some of the other
factors expected to fuel the demand for facility management market over the
next five years.
The field of facility or facilities management (FM) focuses on assisting
people. It guarantees the efficiency, sustainability, comfort, and functioning
of the built environment, which includes the structures where we live and work
as well as the infrastructure around them. IFMA and ISO both adopted this
definition. A seamless environment where the systems operate from the parking
lot to the executive suite is created by the combination of job duties that
support the activities of each organisation. By coordinating the processes that
ensure the success of the physical environment, facility managers ensure that
we enjoy the safest and best experience possible.
Over the next few years, the demand for these products and services is
expected to increase significantly. Government spending on transportation,
energy, development, and other areas is the cause of the increased demand.
Also, the building management has a contract with its service suppliers to
deliver their services. The contract management process includes the management
of personnel, assets, and other services.
Growing Demand for Cloud-based Facilities
Management Systems Fuelling the Market Growth
Currently, hosting facilities management software on the cloud is safe
and secure. By fostering greater security and cooperation among teams and
subsidiaries spread out over different regions, they also help businesses cut
costs. Further benefits of cloud-based facilities management solutions include
secure hosting of sensitive data, enhanced security and scalability, and quick
disaster recovery. The backups are additionally kept on a public or private
cloud hosting platform, enabling companies to instantly access crucial server
data. Data can be accessible from any location that has a dependable internet
connection thanks to secure logins. Customer satisfaction is increased, and
repair and maintenance costs are decreased thanks to cloud-based facilities
management systems. The acceptance and integration of cloud-based solutions are
therefore accelerating due to these benefits.
Overall, the growing demand for cloud-based facilities management
systems in Southeast Asia is driven by the need for cost efficiency,
flexibility, remote access, data analytics, integration with IoT, compliance
requirements, and enhanced user experience. As businesses in the region
continue to embrace digital transformation, cloud-based solutions are becoming
a strategic choice for managing and optimizing their facilities.
Upsurge in Infrastructural Investments Boosing the Market
Growth
Government organisations worldwide make significant investments in the
building and infrastructure industries. Three factors—renovation of existing
buildings, new building construction, and civil engineering—are crucial to the
development of the infrastructure.
Nonetheless, in the current global environment, the sector is well
positioned to benefit from infrastructure expenditures. The majority of the
services associated with this industry's performances and market expansion are
tied to the market tendency for upgrading existing buildings. To keep the
infrastructure clean and green, i.e., smart building construction, governmental
authorities in emerging nations contract with a variety of commercial
contractors, including service providers and various international companies.
Also, the growth of real estate investment is accelerating the
development of smart buildings. The growth of these smart buildings has made a
network that links lighting, sensors, windows, doors, HVAC (heating,
ventilation and air conditioning systems) systems, and CCTV cameras in these
buildings a vital preventative maintenance task. The market need for these
management services has increased as a result of the numerous buildings in
developed and developing nations that need cleaning and maintenance services.
Overall, Southeast Asia increase in infrastructure spending is fueled by
the region's economic expansion, urbanisation, government programmes, efforts
at regional integration, PPPs, energy demand, tourism, and digitization. These
expenditures are essential for boosting connectivity, encouraging economic
growth, luring in investments, and improving the standard of living for locals.
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Industrial Sector is Expected to Witness Significant Growth
According to the most recent research by JLL real estate services firm,
southeast Asia has grown to be a desirable site for foreign investors as a
result of the nation's policies promoting foreign direct investment (FDI),
political stability, and sustained economic growth. As previously said, Southeast
Asia is one of the top foreign investment locations in Southeast Asia.
To determine if it was feasible to deliver liquefied natural gas (LNG)
for power projects in Southeast Asia, Sovico Corporation teamed up with JERA in
May 2022. In order to fulfil the rising energy needs of the area, Service and
JERA will consider developing a cooperation to offer clean, dependable, and
efficient energy at a fair price.
Southeast Asia has developed into a hub for high-tech investment thanks
to investments made by Samsung, Microsoft, Intel, and LG in chip and smartphone
manufacture as well as R&D. The prime minister published Decision No.
10/2021/QD-TTg in March 2021, outlining the standards for classifying high-tech
companies. This decision effected on April 30, 2021. This law applies to Southeast
Asiaese businesses that make high-tech goods or offer high-tech services.
A substantial percentage of foreign direct investment (FDI) into
industrial parks (IPs) in the southern provinces and cities of Southeast Asia
was drawn by supporting industries. For instance, Local IPs garnered USD1.1
billion in capital and investment projects in 2021, accounting for more than
80% of all capital and investment projects in the supporting sector and other
manufacturing firms. Southeast Asiaese Prime Minister Pham Minh Additionally,
According to the Ministry of Planning and Investment (MPI), Chinh's November
2021 visited to Japan saw the signing of 25 significant cooperation agreements
worth up to USD12 billion, the majority paid out in 2022, making Southeast Asia
one of the most alluring investment destinations for Japanese businesses. The
two prime ministers also agreed to work together in areas like digital
transformation, diversification of the production base, and growth of ancillary
industries towards resilient global supply chains, which include both countries
and are essential to economic revitalization. They also agreed to increase
commercial collaborations between Japanese and Southeast Asia businesses and to
strengthen the investment environment for businesses. Due to this the Southeast Asia Facility Management Market is expanding quickly.
Increasing Awareness of the Benefits of Smart FM
A significant driver behind the increasing awareness of the benefits of
Smart Facility Management (FM) in Southeast Asia is the region's rapid digital
transformation. As businesses embrace technological advancements, they are
becoming more cognizant of the potential that smart FM solutions hold for
optimizing their operations. This increased awareness is driven by several key
factors.
Firstly, organizations in Southeast Asia are recognizing the need for
improved efficiency and cost savings. Smart FM technologies leverage
automation, data analytics, and Internet of Things (IoT) sensors to streamline
facility operations, optimize resource allocation, and reduce expenses. By
adopting these solutions, businesses can achieve real-time monitoring,
predictive maintenance, energy management, and improved resource utilization,
resulting in enhanced operational efficiency and reduced costs. Secondly, there
is a growing focus on sustainability and environmental impact in the region.
Smart FM solutions provide insights into energy consumption patterns, waste
management, and water usage, enabling organizations to identify areas for
improvement and implement eco-friendly practices. Southeast Asian businesses
are increasingly alert of their environmental responsibilities and seek smart
FM technologies as a means to reduce their carbon footprint and comply with
sustainability regulations.
In conclusion, the increasing awareness of the benefits of Smart FM in
Southeast Asia is driven by the region's digital transformation, the need for
efficiency and cost savings, the focus on sustainability, the desire to enhance
occupant experience, the availability of real-time data and analytics, and
government initiatives. As organizations in Southeast Asia continue to embrace
smart technologies, the adoption of smart FM solutions is poised to accelerate,
bringing about significant benefits to facility management practices in the
region.
Recent Development
- LOGOS in February 2022. The creation of
a joint venture between Southeast Asia Logistics Venture and Manulife
Investment Management was announced in order to acquire an 11-hectare
build-to-suit logistics asset in the greater Ho Chi Minh City region and meet
the growing demand for modern, high-quality logistics facilities in Southeast
Asia.
Market Segmentation
The Southeast Asia Facility Management Market is segmented into service,
end user, type, industry, and sectors. Based on service, the market is further
fragmented into property, cleaning, security, support, catering & others.
Based on end user, the market is further split into commercial, residential and
industrial. Based on type, the market is further bifurcated into hard services
and soft services. Based on Industry, the market is segmented into organized
and unorganized. Based on sectors, the market is segmented into education,
healthcare, real estate, banking, hospitality, housing, and others. Based on
country, the market is segmented into
Vietnam, Thailand, Singapore, Philippines, Malaysia, Indonesia, Rest of
Souteast Asia.
Market Player
Major market players in the Southeast Asia
Facility Management Market are Aden Group, PCS Security and Facility Services, UEMS
SOLUTIONS PTE. LTD, Century Properties Management, UEM Edgenta, Colliers
International, CBRE Global Workspace Solutions (GWS), Jones Lang LaSalle
Incorporated (JLL).
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 – 2021
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Estimated Year
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2023
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Forecast Period
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2024 – 2028
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Quantitative Units
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Revenue in USD Million and CAGR for 2018-2022 and 2024-2028
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Report coverage
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Revenue forecast,
company share, growth factors, and trends
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Segments covered
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Service
Type
Industry
End User
Sectors
Country
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Regional scope
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Southeast Asia
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Country scope
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Vietnam, Thailand, Singapore, Philippines, Malaysia, Indonesia, Rest
of Souteast Asia
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Key companies profiled
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Aden Group, PCS
Security and Facility Services, UEMS SOLUTIONS PTE. LTD, Century Properties
Management, UEM Edgenta, Colliers International, CBRE Global Workspace
Solutions (GWS), Jones Lang LaSalle Incorporated (JLL)
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Customization scope
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10% free report customization with purchase. Addition or alteration to
country, regional & segment scope.
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Pricing and purchase options
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Avail customized
purchase options to meet your exact research needs. Explore purchase options
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Delivery Format
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PDF and Excel
through Email (We can also provide the editable version of the report in
PPT/Word format on special request)
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Report Scope:
In this report, the Southeast Asia Facility Management Market has been
segmented into the following categories, in addition to the industry trends
which have also been detailed below:
·
Southeast
Asia Facility Management Market, By Service:
o Property
o Cleaning
o Security
o Support
o Catering
o Others
·
Southeast
Asia Facility Management Market, By Type:
o Hard Services
o Soft Services
·
Southeast
Asia Facility Management Market, By Industry:
o Organized
o Unorganized
·
Southeast
Asia Facility Management Market, By End User:
o Commercial
o Residential
o Industrial
o Public Sector
·
Southeast
Asia Facility Management Market, By Sectors:
o Education
o Healthcare
o Real Estate
o Banking
o Hospitality
o Housing
o Others
·
Southeast
Asia Facility Management Market, By Country:
o Vietnam
o Thailand
o Singapore
o Philippines
o Malaysia
o Indonesia
o Rest of Souteast Asia
Competitive Landscape:
Company Profiles: Detailed analysis of the major companies present in
the Southeast Asia Facility Management Market.
Available Customizations:
Southeast Asia Facility Management Market with the given market data,
Tech Sci Research offers customizations according to a company's specific
needs. The following customization options are available for the report:
Company Information:
- Detailed
analysis and profiling of additional market players (up to five).
The Southeast Asia Facility Management Market is an upcoming report to
be released soon. If you wish an early delivery of this report or want to
confirm the date of release, please contact us at [email protected]