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2020-03-19
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Middle East and Africa
The continued maturity of the construction industry in GCC countries is pushing the demand for facility management services. According to the report of facility management expo 2015, “As the FM industry continues to mature and develop in the region it is interesting to see the consistency of the responses across the years, as well as gain an insight into the growing stability of a sector often perceived as being affected by the vacillations of the related construction and property businesses”. The building stocks in Middle East region growing in terms of value and volume both which is increasing the demand for facility management services from which the industry can grow and develop. As the opportunities within the industry continue to grow so does the high level competition which is arising the challenges for the established market players to sustain the growth of their businesses. The facility management industry persists to bring out the positive, regardless of regional economic slowdown due to government spending. According to the primary research, more than 60 per cent respondents are expecting that the facility management atmosphere will improve over the next one to two years. However, 36 per cent expect the industry growth and environment to remain about the same. Moreover, the stability in travel and tourism industry is also increasing the number of service providers with enhanced pricing and business models.
Goldstein Research analyst forecast the GCC facility management market size is set to reach USD 71.4 billion by 2024, at a CAGR of 8.6% over the forecast period. GCC facility management market generated revenue of USD 36.8 billion in 2016. New market prioritization and entry of new players in FM industry is driving the growth of the revenue
By Services Type
By Providers Type
By Size of Organization
Based on Country
Based on services type, property services dominated the overall facility management market with a market share of approximated 38.6% in 2016, accounting revenue of USD 14.1 billion followed by cleaning services at 26.2% in 2016. Moreover, on the basis of service provider type, single service model still remains a dominant choice over other service models. However, integrated service model is gaining traction among the facility owners to limit the complexity by reducing the number of service contractor.
Based on country, Kingdom of Saudi Arabia (KSA) leads the facility management market in GCC and accounted USD 20.8 billion in 2016 followed by UAE with market size of USD 10.2 billion owing to rising number of commercial facilities in the countries. Moreover, the facility operators are outsourcing the FM operation in order to focus on their core operations. Introduction of advanced technologies such as green building techniques and professional maintenance of buildings are opening up new avenues for the facility management market players in the GCC region. On the other hand, infrastructure expansion in Qatar is making it one of the most opportunistic market spaces for the FM industry players. Qatar facility management market grew at a CAGR of 25.2% between the years 2007 to 2013. FM industry in Qatar generated USD 1.01 billion 2012 and reached to USD 1.3 billion in 2013, with an annual revenue growth rate of 30.4%.
Major Trend: According to our GCC market study on the basis of extensive primary and secondary research: “many technologies are on the brik of contravention into the GCC region, such as Internet of Things (IoT), Big Data, 3D Printing, Smart Buildings, Building Automation and inclination towards operation centre models for energy and building management. The growing connectivity technology and need of connected facilities is the major trend which is predisposing the demand for facility management services.”
Growth Driver: According to the report, major driving factor is the expansion of construction industry and building automation. The rising complexity in technology such as smart energy management and building automation further growing the need of facility management services. Positive growth in hotel industry is also a driving force for the facility management industry. According to industry estimate, Saudi Arabia facility management industry worth nearly USD 100 billion while outsourced FM sector in Middle East region reached a valuation of USD 12.2 billion in 2012. The rising real estate and infrastructure investment in countries such as UAE, Qatar, Kuwait, Saudi Arabia and others is increasing the number of luxurious or premium facilities in the major economies. Moreover, total spend on facility management in the Middle East region in 2012 is estimated at USD 36.8 Billion, where UAE, Saudi Arabia and Qatar are the major contributors. Mega development projects in these economies and rising government spending to develop better and smart infrastructure further creates huge opportunities for the facility management market players to grow their businesses in the region.
Risk Factor: Further, the report states the biggest challenge is to maintain the marginal price and provide better services. As the number of players are increasing rapidly in the GCC region so does the expectations of quality services of facility operators are also rising. In order to maintain the growth and pricing models, the players are shifting towards the adoption of technology to reduce the labor force. However, technology implementation requires huge investment which is a major challenge for most of the market players as the return on investment (ROI) rate is low in this service industry.
Our GCC Facility Management Market Report comprises of the following companies as the key players.
The report covers the present ground scenario and the future growth prospects of the facility management market for 2016-2024 along with the market players’ analysis. We calculated the market size and revenue share on the basis of revenue generated from major players in the GCC region. GCC facility management market is forecasted on the basis of revenue analysis, product benchmarking and strategic developments of key market players.
GCC Facility Management Market Outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the GCC facility management market space. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. “GCC Facility Management Market Report” also recognizes value chain analysis to understand the cost differentiation, pricing models to provide competitive advantage to the existing and new entry players.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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