Growth Opportunities for Facility Management in Thailand

Growth Opportunities for Facility Management in Thailand

Service Providers’ Embrace of Transformative Technology Adoption Trends will Prove Vital to their Progress and Success

RELEASE DATE
14-Aug-2023
REGION
Asia Pacific
Deliverable Type
Market Research
Research Code: PEEB-01-00-00-00
SKU: TEMP_2023_79
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Description

The facility management (FM) market in Thailand is still developing, and various opportunities linked to expanding economic sectors, such as industrial and healthcare, support its growth, along with end-users’ increasing maturity. As the outsourcing culture gains wider acceptance and the market continues to expand in response to infrastructure investments and business district expansion, demand for FM outsourcing will increase. The market is also experiencing a steady uptick in familiarity with information technologies across most corporations, which is boosting appreciation for technology-supported FM solutions. In addition, constantly evolving customer needs, often based on the economic and market environment, have led to fluctuation in FM demand. This includes local end-users’ awareness of energy efficiency measures that will steer demand for related services and solutions.

However, the market is largely affected by customers’ high preference for single or specialized service providers, particularly among local end users, which limits outsourcing potential. An overarching concern about the availability of human resources that is tied to Thailand’s prevalent low unemployment rate has been a constant challenge in the highly labor-intensive FM market. Another market restraint is the lack of adequate regulations over service quality and standards.

The commercial office and healthcare sectors lead the FM market due to high maturity in both sectors. In terms of service segmentation, demand for cleaning remains the key contributor to FM outsourcing in Thailand, topping the market by a significant margin compared to the runner-up, security. The adoption of an integrated approach to FM is still growing, largely supported by a few foreign service providers that have been at the forefront of introducing sophisticated integrated FM (IFM) solutions.

This study analyzes the Thai FM market, covering market drivers, restraints, forecasts, trends, and competitive landscape. The study also provides competitive analysis of key market participants. This study spans 2020 to 2028 with 2022 as the base year and concludes with a discussion of 3 key growth opportunities that market players must consider.

Author: Janice Wung

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on Thailand’s Facility Management (FM) Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Segmentation

Segmentation by End User

Investments

Investments (continued)

Employment

Housing Data and Consumer Price Index

Construction

Key Growth Metrics

Growth Drivers

Growth Restraints

Revenue Forecast and Analysis

Revenue Forecast and Analysis by Service Type

Market Trends by Subservice

Revenue Forecast and Analysis by End User

Market Trend by Sub-end User

Outsourced FM Trend

IFM Penetration Trend

Technology and Application Focus in FM Services

Industry Value Chain

Competitive Environment

Competitive Landscape Analysis

Key Market Participant Profile: PCS Security and Facility Services Ltd.

Key Market Participant Profile: G4S Security Services (Thailand) Ltd.

Key Market Participant Profile: Sodexo (Thailand) Co., Ltd.

Key Market Participant Profile: Plus Property Co., Ltd.

Key Market Participant Profile: CB Richard Ellis (Thailand) Co., Ltd.

Growth Opportunity 1: Technology-driven FM Solutions

Growth Opportunity 1: Technology-driven FM Solutions (continued)

Growth Opportunity 2: Energy Management

Growth Opportunity 2: Energy Management (continued)

Growth Opportunity 3: Data Analytics

Growth Opportunity 3: Data Analytics (continued)

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

The facility management (FM) market in Thailand is still developing, and various opportunities linked to expanding economic sectors, such as industrial and healthcare, support its growth, along with end-users’ increasing maturity. As the outsourcing culture gains wider acceptance and the market continues to expand in response to infrastructure investments and business district expansion, demand for FM outsourcing will increase. The market is also experiencing a steady uptick in familiarity with information technologies across most corporations, which is boosting appreciation for technology-supported FM solutions. In addition, constantly evolving customer needs, often based on the economic and market environment, have led to fluctuation in FM demand. This includes local end-users’ awareness of energy efficiency measures that will steer demand for related services and solutions. However, the market is largely affected by customers’ high preference for single or specialized service providers, particularly among local end users, which limits outsourcing potential. An overarching concern about the availability of human resources that is tied to Thailand’s prevalent low unemployment rate has been a constant challenge in the highly labor-intensive FM market. Another market restraint is the lack of adequate regulations over service quality and standards. The commercial office and healthcare sectors lead the FM market due to high maturity in both sectors. In terms of service segmentation, demand for cleaning remains the key contributor to FM outsourcing in Thailand, topping the market by a significant margin compared to the runner-up, security. The adoption of an integrated approach to FM is still growing, largely supported by a few foreign service providers that have been at the forefront of introducing sophisticated integrated FM (IFM) solutions. This study analyzes the Thai FM market, covering market drivers, restraints, forecasts, trends, and competitive landscape. The study also provides competitive analysis of key market participants. This study spans 2020 to 2028 with 2022 as the base year and concludes with a discussion of 3 key growth opportunities that market players must consider. Author: Janice Wung
More Information
Deliverable Type Market Research
Author Janice Wung
Industries Environment
No Index No
Is Prebook No
Keyword 1 Facility Management
Keyword 2 Iot For Facility Management
Keyword 3 Fm Outsourcing In Thailand
Podcast No
WIP Number PEEB-01-00-00-00