Facility Management Market in Saudi Arabia Reaches $34.86

PUNE, India, June 20, 2022 (GLOBE NEWSWIRE) — The Saudi Arabia facility management market size was $22.40 billion in 2020. The market is expected to keep growing $22.87 billion in 2021 to $34.86 billion in 2028 at a CAGR of 6.2% in the period 2021-2028. Fortune Business Insights™ provides this information in its report titled “Saudi Arabia Facility Management Market, 2021-2028.” Based on our analysts’ extensive research, the prospects for facilities management in Saudi Arabia are expected to rise as the increasing government impulse to localize the industry has become an indispensable struggle to improve the economic health of the GCC countries improve income while reducing the region’s dependence on oil.

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Key Players covered in Saudi Arabia Facility Management Market report

  • Sodexo (Issy-les-Moulineaux, France)
  • CBRE Group Inc. (Los Angeles, USA)
  • Compass Group PLC (Chertsey, UK)
  • Cushman & Wakefield (Chicago, USA)
  • Cone Group (Gurugram, India)
  • Dussmann Group (Berlin, Germany)
  • Majid Al Futtaim – ENOVA (Dubai, United Arab Emirates)
  • MEEM Facility Management Co. (Riyadh, Saudi Arabia)
  • MUHEEL SERVICES (Jeddah, Saudi Arabia)
  • INITIAL SAUDI GROUP (Jeddah, Saudi Arabia)
  • Al Mahmal Facility Services Company (Al Khalidiya, Saudi Arabia)
  • Afras (Riyadh, Saudi Arabia)
  • TOFM (AlKifah Holding) (Al Khobar, Saudi Arabia)
  • EFS Facility Services Group (Dubai, United Arab Emirates)
  • G4S Limited (Jeddah, Saudi Arabia)
  • Munjz (Dammam, Saudi Arabia)
  • TAMAM (Riyadh, Saudi Arabia)
  • Fanni (Jedda, Saudi Arabia)
  • AJEER (Riyadh, Saudi Arabia)
  • Albaap (Riyadh, Saudi Arabia)
  • Just Mop (Dubai, United Arab Emirates)

Effects of COVID-19

COVID-19 puts a strain on the value and supply chain of facility management services

The COVID-19 outbreak has had a colossal undesirable impact on the value chain and supply chain operations in the equipment industry. The disruption in the value and supply chain with volatile demand and supply of the facility services combined with severe government restrictions have restricted the logistic activities in the market.

As of November 2020, the number of active COVID-19 cases in the GCC region worsened by 50%, with mortality rates falling below average. As the government places emphasis on emphasizing health as an economic imperative, monetary and economic policies are likely to remain accommodative until the GCC region’s recovery is well governed.

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report coverage

The report offers valuable insights gained through thorough studies by our researchers. Extensive research was conducted to determine the projected size of the market. The data used to extrapolate shares for multiple segments at the country, regional and global levels comes from in-depth interviews with multiple stakeholders. In addition, we have gained access to multiple global and regional paid databases to provide accurate information to help you make business investment decisions. The study also covers financial aspects for the facility management sector in Saudi Arabia and presents a forecast for the projected duration.

Scope and segmentation of the report:

report attribute details
Market size value in 2020 $22.40 billion
Sales forecast 2028 $34.86 billion
growth rate CAGR of almost 6.2% 2021-2028
base year 2020
historical year 2017 – 2019
forecast year 2021 – 2028
Covered Segments By service type, by industry, by region
Forecast Units Value (Billion USD) and Volume (Units)
Quantitative Units Revenue in USD mn/bn and CAGR from 2020 to 2027
Regions Covered North America, Europe, Asia Pacific, Middle East & Africa, Latin America & Rest of World
Countries Covered USA, Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others
Number of companies covered Sodexo, CBRE Group Inc., Compass Group PLC, Cushman & Wakefield, Tenon Group, Dussmann Group, Majid Al Futtaim – ENOVA, MEEM Facility Management Co., MUHEEL SERVICES, INITIAL SAUDI GROUP, Al Mahmal Facility Services Company, Afras, TOFM, EFS Facilities Services Group, G4S Limited, Munjz, TAMAM, Fanni, AJEER, Albaap, Just Mop
Saudi Arabia Building Management market coverage Market Growth Drivers, Restraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Market Attractiveness Analysis by Segments and Regions, Company Market Share Analysis, and COVID-19 Impact Analysis.

segmentation

Based on the type of service, the market is categorized into hard, soft and other facility services. Below that, the soft services segment is expected to grow significantly at the highest CAGR.

Based on industry vertical, the market segmentation is segmented into Healthcare, Government, Education, Military & Defense, Real Estate, and Others.

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driver and restraint systems

Government initiatives to invest in tourism and construction industries to stimulate growth

Currently, the government of Saudi Arabia is constantly working on its economic diversification by funding its tourism industry. In recent years, the government has invested heavily in expanding its non-oil economy. Additionally, as part of the program known as Vision 2030, the government has started to open up its tourism sector by making numerous notable changes.

In addition, since 2019, the government has started issuing tourist visas for the first time, which is the most significant change that has taken place. Hence, this is expected to boost the growth of facility management market in Saudi Arabia.

country insights

Due to the incessant development of urbanization and industrialization, the market share of building management in Saudi Arabia is expected to grow significantly in the near future. Governments fund the expansion of railways, ports, airports and several other sectors.

To do this, the governments are merging with numerous private Saudi Arabian facility management service providers, including facility management service providers, to maintain the clean and green infrastructure. Investments from the private sector are expected to witness a staggering increase in the near future, which is likely to drive market growth across the region.

competitive landscape

Acquisitions and mergers of key companies to support market growth

The leading market players are constantly adopting efficient strategies to increase their brand value and support the global market growth of the product by overcoming the least possible hurdles. One such efficient strategy is to source competitive companies and further secure profit for both companies.

industry development

June 2020: Sodexo has partnered with Bureau Veritas to introduce a hygiene verification label for Sodexo services, offering consumers quality assurance. This collaboration includes on-site facility management services as well as catering services.

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Table of Contents

  • introduction
    • Definition, by segment
    • research approach
    • Sources
  • summary
  • market dynamics
    • Macro and microeconomic indicators
    • Drivers, barriers, opportunities and trends
    • Effects of COVID-19
      • Short term effects
      • long-term effect
  • competitive landscape
    • Business strategies adopted by key players
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Forces Analysis
    • Saudi Arabia Facility Management Market Share Analysis, 2020
  • Key market insights and strategic recommendations
  • Key Player Profiles (Would only be intended for 10 players)
    • overview
      • key management
      • headquarters etc.
    • Offers/business areas
    • Important details (Key details are subject to data availability in the public domain and/or paid databases)
      • employee size
      • Important financial figures
        • Past and current earnings
        • gross margin
        • Geographic Share
        • division share
    • Recent Developments
  • Primary Interview Answers
  • Appendix / Appendix
    • Estimates and Projections on Saudi Arabia Facility Management Market Size (Quantitative Data), by Segment, 2017-2028
      • By Service Type (Value)
        • hard services
        • soft services
        • other services
      • By Industry (Value)
        • healthcare
        • government
        • education
        • Military & Defense
        • property
        • Other (IT & Telecom, BFSI, etc.)

Table of contents continued

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