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South Korea Facility Management Market Size, Share, Growth: By Offering: Hard Facility Management, Soft Facility Management; By Type: In-house Facility Management, Outsourced Facility Management; By End Use: Commercial, Institutional, Public/Infrastructure, Others; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
South Korea Facility Management Market Outlook
The South Korea facility management market size was approximately USD 46.20 billion in 2023. The market is assessed to grow at a CAGR of 2.9% between 2024 and 2032, reaching a value of USD 60.10 billion by 2032.
Key Takeaways
- Companies in South Korea are focusing on enhancing their technological capabilities by integrating smart factory technologies like AI, robots, and communications at several manufacturing sites.
- Facility management enables companies to improve the functionality and operational capabilities of buildings while enhancing the overall experience/productivity of employees or occupants.
- In November 2023, POSCO, a Korean steel making company, successfully tested an LG Electronics robot for facility management operations at its Gwangyang plant, planning to adopt it for future use.
The market in Sout Korea is expected to expand as companies increase their investments to strengthen their manufacturing competitiveness utilising intelligent autonomous factory technology. The utilisation of cutting-edge technologies like the Internet of Things (IoT), artificial intelligence (AI), and big data analytics is on the rise in facility management. These technologies facilitate a more streamlined and impactful management of facilities, covering areas such as energy management and predictive maintenance, consequently driving up the South Korea facility management market share.
Many companies across South Korea are testing self-driving robots for unmanned facility management and facility diagnosis at hazardous worksites. These robots are equipped with cameras and LiDAR (light detection and ranging) sensors to provide accurate information of the surrounding area to the control room, enabling better monitoring and ensuing worker safety.
As per the South Korea facility management market analysis, the demand for hard facility management is expected to increase significantly during the forecast period. This is because of the increase in the demand for upkeep of physical assets across large enterprises. Some of the key hard facility management services include plumbing, heating and cooling services, and installation of fire safety systems inside buildings.
Outsourced facility management is popular in major sectors like industrial and institutional, as third parties deliver facility management services on a need basis and charge cost-effective rates. This enables organisations to allocate resources for core business activities, improving their overall profitability.
Market Segmentation
South Korea Facility Management Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Offering
- Hard Facility Management
- Soft Facility Management
Market Breakup by Type
- In-house Facility Management
- Outsourced Facility Management
Market Breakup by End Use
- Commercial
- Institutional
- Public/Infrastructure
- Industrial
- Others
Competitive Landscape
The market players are focusing on integrating artificial intelligence and advanced technologies in facility management to gain a competitive edge.
- Hyundai GBFMS Co., Ltd.
- CBRE Inc.
- Savills plc
- Samkoo Inc.
- Sodexo
- SGS Société Générale de Surveillance SA
- Sean Technical Company
- Cushman & Wakefield, Inc.
- Jones Lang LaSalle IP, Inc.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Offering |
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| Breakup by Type |
|
| Breakup by End Use |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Facility Management Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Facility Management Historical Market (2018-2023)
8.3 Asia Pacific Facility Management Market Forecast (2024-2032)
8.4 Asia Pacific Facility Management Market Breakup by Country
8.4.1 China
8.4.2 Japan
8.4.3 South Korea
8.4.4 ASEAN
8.4.5 Australia
8.4.6 South Korea
8.4.7 Others
9 South Korea Facility Management Market Overview
9.1 Key Industry Highlights
9.2 South Korea Facility Management Historical Market (2018-2023)
9.3 South Korea Facility Management Market Forecast (2024-2032)
10 South Korea Facility Management Market by Offering
10.1 Hard Facility Management
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Soft Facility Management
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 South Korea Facility Management Market by Type
11.1 In-house Facility Management
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Outsourced Facility Management
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 South Korea Facility Management Market by End Use
12.1 Commercial
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Institutional
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Public/Infrastructure
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Industrial
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Hyundai GBFMS Co., Ltd.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 CBRE Inc.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Savills plc
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Samkoo Inc.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Sodexo
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 SGS Société Générale de Surveillance SA.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Sean Technical Company
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Cushman & Wakefield, Inc.
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Jones Lang LaSalle IP, Inc.
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Facility Management Market: Key Industry Highlights, 2018 and 2032
2. South Korea Facility Management Market: Key Industry Highlights, 2018 and 2032
3. South Korea Facility Management Historical Market: Breakup by Offering (USD Billion), 2018-2023
4. South Korea Facility Management Market Forecast: Breakup by Offering (USD Billion), 2024-2032
5. South Korea Facility Management Historical Market: Breakup by Type (USD Billion), 2018-2023
6. South Korea Facility Management Market Forecast: Breakup by Type (USD Billion), 2024-2032
7. South Korea Facility Management Historical Market: Breakup by End Use (USD Billion), 2018-2023
8. South Korea Facility Management Market Forecast: Breakup by End Use (USD Billion), 2024-2032
9. South Korea Facility Management Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 46.20 billion.
The market is estimated to grow at a CAGR of 2.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 60.10 billion by 2032.
The market is driven by the rising adoption of artificial intelligence in facility management and the increasing demand from various end use sectors including commercial and industrial.
The key trends aiding the market expansion include the rising automation in facility management, and the anticipated growth of the manufacturing sector.
The major offerings include hard facility management and soft facility management.
Based on type, the market is divided into in-house facility management and outsourced facility management.
The major players in the market are Hyundai GBFMS Co., Ltd., CBRE Inc., Savills plc, Samkoo Inc., Sodexo, SGS Société Générale de Surveillance SA, Sean Technical Company, Cushman & Wakefield, Inc., and Jones Lang LaSalle IP, Inc., among others.
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