Vietnam Facility Management Market Size Set to Grow at Steady CAGR of 5.09%

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Vietnam Facility Management Market

In its recent study, BlueWeave Consulting, a leading strategic consulting and market research firm, estimated the Vietnam Facility Management Market size at USD 275.19 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Vietnam Facility Management Market size to expand at a CAGR of 5.09% reaching a value of USD 348.34 million by 2030. Increasing demand for better working conditions to increase productivity and satisfaction, as well as the expansion of construction activities, are major development factors for the Vietnam Facility Management Market. It is also projected that the market will witness lucrative growth opportunities due to the growing utilization of cloud-based solutions and sophisticated monitoring tools.

Opportunity – Increasing number of infrastructure development projects

Economic expansion greatly depends on the development of infrastructure. As a result, the Vietnamese government is investing heavily in various infrastructure development projects. Airports, metros, railroads, highways, and other forms of transportation are being constructed to improve the infrastructure supporting transportation. It is propelling the growth in the country’s facility management industry. In addition, the number of privately held spaces, including real estate, movie theaters, and retail malls, is growing, making facility management services necessary to guarantee smooth operation.

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Vietnam Facility Management Market

Segmental Coverage

Vietnam Facility Management Market – By End User

The Vietnam Facility Management Market is segmented into commercial, institutional, public/infrastructure, industrial, and others based on end users. 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 investments 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. These companies employ various strategies to further enhance their market share, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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