AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Kingdom of Saudi Arabia (KSA) Facilities Management (FM) Market, Forecast to 2025 - ResearchAndMarkets.com

November 29, 2019

DUBLIN--(BUSINESS WIRE)--Nov 29, 2019--

The “KSA Facilities Management Market, Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.

This study provides a detailed insight into the FM market in Saudi Arabia and also presents a forecast for the 2018-2025 period.

With rapid advances in AI and cloud technology, the global facilities management (FM) market has transformed significantly in recent years

In order to cope with this transformation, the market is witnessing various mergers and acquisitions. The single services or services in bundles traditionally offered by FM companies have now been replaced by the more comprehensive integrated facility management (IFM) services. Compared to bundled services, IFM is more strategic and can offer multiple services within a single contract. IFM streamlines business operations and allows companies to focus on the more important business issues, thereby improving overall business performance and effectively reducing costs.

More than 50% of services in the global FM market are outsourced, out of which more than 11% involve IFM

The global FM market is also witnessing an increasing demand for value-added services. From superior customer service to delivering sustainable solutions, FM providers are expected to integrate value-added services in order to offer positive and long-lasting solutions to businesses. Leveraging modern technologies and energy-efficient solutions, the top FM companies have been able to provide such value-added services to customers.

The rapidly growing FM market in the Middle East is poised to become the fastest-growing regional FM market by 2025. The market is primarily driven by booming construction activity and the rapid progress of multiple mega- and giga-projects related to economic cities, transport, housing, education, healthcare, and hospitality, amongst others. Currently, the FM market in the Middle East is dominated by in-house and other outsourced services, with IFM adoption slowly gaining traction in recent years.

Saudi Arabia is the largest FM market in the Gulf region, accounting for more than 55% of the regional FM market

Saudi Arabia’s FM market is primarily dominated by domestic FM companies, with the top 5 companies accounting for a market share of more than 32% as of 2018. In sync with Saudi Vision 2030, the country is adhering to sustainable practices and moving towards a greener economy. This trend is bound to create a shift in the FM market, with services such as energy management being increasingly offered. There is also a growing demand for outsourced FM services in Saudi Arabia. Therefore, companies are increasingly favouring integrated and bundled services, whereas single services are prevalent mostly to provide soft FM services to customers.

FM companies in Saudi Arabia still lag behind in leveraging modern technologies, as there is limited technology penetration in the overall FM market. However, given the growing demand for energy management in the form of building automation systems, HVAC solutions, lighting controls, renewable solutions, and security, amongst others, FM providers are bound to invest in advanced technology and offer sustainable solutions to customers going forward.

Key Issues Addressed

Key Topics Covered

1. Executive Summary

2. Market Overview

3. Drivers and Restraints-Total FM Market

4. Forecast and Trends-Total FM Market

5. Market Share and Competitive Analysis-Total FM Market

6. Growth Opportunities and Companies to Action

7. Hard Services Segment Analysis

8. Soft Services Segment Analysis

9. The Last Word

10. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/r5miv2

View source version on businesswire.com:https://www.businesswire.com/news/home/20191129005203/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD:

INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY OTHER CONSTRUCTION & PROPERTY

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 11/29/2019 07:41 AM/DISC: 11/29/2019 07:41 AM

http://www.businesswire.com/news/home/20191129005203/en