Southeast Asia Facility Management Market Segmented By Service (Property, Cleaning, Security, Support, Catering & Others), By Type (Hard Services and Soft Services), By Industry (Organized, Unorganized), By End User (Commercial, Residential, Industrial, Public Sector), By Sectors (Education, Healthcare, Real Estate, Banking, Hospitality, Housing, Others) By Country, Competition, Forecast and Oppor
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Infrastructure | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSoutheast Asia Facility Management Market Segmented By Service (Property, Cleaning, Security, Support, Catering & Others), By Type (Hard Services and Soft Services), By Industry (Organized, Unorganized), By End User (Commercial, Residential, Industrial, Public Sector), By Sectors (Education, Healthcare, Real Estate, Banking, Hospitality, Housing, Others) By Country, Competition, Forecast and Oppor
Southeast Asia Facility Management Market is size is projected to exhibit a growth rate (CAGR) of 4.50% during 2024-2032 and
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.
Download Free Sample ReportIndustrial 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. 10/2024-2032/QD-TTg in March 2024-2032, outlining the standards for classifying high-tech companies. This decision effected on April 30, 2024-2032. 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 2024-2032, 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 2024-2032 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
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.
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Recent Development
- LOGOS in February 2022. The creation ofa joint venture between Southeast Asia Logistics Venture and ManulifeInvestment Management was announced in order to acquire an 11-hectarebuild-to-suit logistics asset in the greater Ho Chi Minh City region and meetthe growing demand for modern, high-quality logistics facilities in SoutheastAsia.
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 |
Details |
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Base Year |
2022 |
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Historic Data |
2018 – 2024-2032 |
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Estimated Year |
2023 |
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Forecast Period |
2024 – 2028 |
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Quantitative Units |
Revenue in USD Million and CAGR for 2018-2022 and 2024-2028 |
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Report coverage |
Revenue forecast, company share, growth factors, and trends |
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Segments covered |
Service Type Industry End User Sectors Country |
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Regional scope |
Southeast Asia |
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Country scope |
Vietnam, Thailand, Singapore, Philippines, Malaysia, Indonesia, Rest of Souteast Asia |
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Key companies profiled |
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 |
10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
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Delivery Format |
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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