Saudi Arabia $75+ Billion Facility Management Market to 2020: Opportunities in Increasing Demand of Outsourcing Facility Management Services
DUBLIN, Nov. 23, 2020 /PRNewswire/ -- The "Saudi Arabia Facility Management Market Research Report: By Service, End User, Mode, Type - Industry Analysis and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The market attained a value of $32,480.4 million in 2019 and is predicted to reach a revenue of $76,244.9 million in 2030, exhibiting a CAGR of 9.3% from 2020 to 2030.
The soaring investments being made in infrastructural development projects, the flourishing tourism sector, and the increasing number of construction activities in the country are some of the major factors driving the progress of the Saudi Arabia facility management market.
The mushrooming infrastructure industry is a major factor responsible for the growth of the market. The Saudi Arabian government is making huge investments in various massive construction projects in the country. For instance, the government launched the 'Smart City' initiative in 2017, under which, it will deploy smart parking solutions, smart lighting devices, environmental pollution tracking and monitoring systems, smart cameras, and smart solid waste disposal systems in various cities across the country.
The construction of these smart cities will push up the demand for maintenance services for the smart systems, which will, in turn, boost the advancement of the market. Apart from these mega-infrastructural development projects, the thriving tourism sector of the country is also propelling the growth of the Saudi Arabia facility management market. This is because the boom of the tourism sector has boosted the requirement of various services needed for maintaining the facility such as catering and security.
The Ministry of Tourism in Saudi Arabia announced in June 2020 that it intends to launch a special fund for tourism development in the country. Moreover, the Ministry plans to invest $4 billion in the initiative. This initiative will massively bolster the tourism sector in the country in the coming years, which will, in turn, generate huge demand for facility management services across the country and drive the growth of the market in the future.
Residential, commercial, and industrial are the main categories under the end user segment of the market. Amongst these, the commercial category recorded the highest growth, in terms of revenue, in the market in the last few years. This is credited to the large-scale incorporation of facility management services for managing various commercial facilities such as offices, shopping complexes, recreational spaces, theaters, and malls. Additionally, the high requirement of contract management, property accounting, procurement management, and renting services in commercial spaces propelled the progress of the category in the market.
Depending on type, the Saudi Arabia facility management market is divided into soft services and hard services. Between the two categories, the hard services one is predicted to exhibit faster growth in the market in the forthcoming years. This is because the hard services are highly critical and are thus, highly sought after all over the country. In addition to this, the hard services are more expensive than the soft services as they can only be provided by skilled workers.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Service
4.1.1.1 Property services
4.1.1.1.1 HVAC maintenance services
4.1.1.1.2 Mechanical and electrical maintenance services
4.1.1.1.3 Other services
4.1.1.2 Cleaning services
4.1.1.3 Security services
4.1.1.4 Catering services
4.1.1.5 Support services
4.1.1.6 Environmental management services
4.1.1.7 Other services
4.1.2 By End User
4.1.2.1 Commercial
4.1.2.2 Industrial
4.1.2.3 Residential
4.1.3 By Mode
4.1.3.1 In-house
4.1.3.2 Outsourced
4.1.3.2.1 Integrated
4.1.3.2.2 Bundled
4.1.3.2.3 Single
4.1.4 By Type
4.1.4.1 Hard services
4.1.4.2 Soft services
4.1.4.3 Other services
4.2 Market Dynamics
4.2.1 Trend
4.2.1.1 Economic Diversification
4.2.2 Drivers
4.2.2.1 Increasing construction activities in the country
4.2.2.2 Growing tourism industry
4.2.2.3 Impact analysis of drivers on market forecast
4.2.3 Restraints
4.2.3.1 Legal marketplace of the country
4.2.3.2 Impact analysis of restraints on market forecast
4.2.4 Opportunities
4.2.4.1 Increasing demand of outsourcing facility management services
4.3 Impact of COVID-19 on Facility Management Market
4.4 Porter's Five Forces Analysis
Chapter 5. Saudi Arabia Market Size and Forecast
5.1 By Service
5.1.1 Property Services Market, by Type
5.2 By End User
5.3 By Mode
5.3.1 Outsourced Market by Type
5.4 By Type
Chapter 6. Saudi Arabia Facility Management, End User Capacity Analysis
6.1 Commercial End User, by Capacity
6.1.1 Office Capacity
6.1.2 Retail Capacity
6.1.3 Hotel Capacity
6.2 Residential End User, by Capacity
6.3 Industrial End User, by Capacity
Chapter 7. Saudi Arabia Facility Management Workforce Analysis
7.1 Workforce Analysis, by End User
7.2 Workforce Analysis, by Mode
Chapter 8. Competitive Landscape
8.1 Competitive Analysis of Key Players
8.2 Benchmarking of Key Players and Their Offerings
8.3 Strategic Developments in the Market
8.4 List of Other Players
Chapter 9. Company Profiles
9.1 Business overview
9.2 Product and service offerings
9.3 Key financial summary
- EMCOR Group Inc.
- Khidmah LLC
- Interserve plc
- Enova Facility Management
- Rezayat Group
- Musanadah Facilities Management Co. Ltd.
- Nesma Trading Co. Ltd.
- Al Borj International
- Petrojana
- Al Hajry Overseas Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/tyfviq
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