Some of the key findings from our facility management services market forecast report for the Middle East are summarized below
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Facility management services industry outlook for Middle East
In the last few years, commercial construction activities have increased in the Middle East. Since 2017, the construction of commercial infrastructure for hospitality, transport, entertainment, and healthcare sectors have been increasing. This has augmented the demand for facility management services in this region. Non-core business functions of the hospitality sector are being increasingly outsourced to facility management service companies.
The increasing commercial construction activities are driven by the steady implementation of construction projects in 2018 as part o the strategic vision of key countries in the Middle East. The announcement of the Vision 2030 initiative by Saudi Arabia in 2016 has boosted the infrastructural development for healthcare, real-estate, and religious tourism sector. The commercial construction activities also received a boost in Qatar after the announcement of Qatar National Vision 2030. Organizers of the Expo 2020 have awarded contracts worth USD 2.94 billion for event-related construction projects in the UAE. Thus, the rapid growth in commercial construction is driving the growth of the facility management services market in the Middle East at a CAGR of over 11% during the forecast period.
Top facility management services companies in Middle East covered in this report
The facility management services market is fairly fragmented. The market is in the growth phase, and the competition is expected to become more intense by the end of the forecast period. To help clients improve their revenue shares in this market, this research report provides an analysis of the market’s competitive landscape and offers information on the products offered by various leading companies. Additionally, this facility management services market analysis report for the Middle East suggests strategies companies can follow and recommends key areas they should focus on, to make the most of the upcoming growth opportunities.
The report offers a detailed analysis of several leading companies, including:
- BESIX
- Farnek
- Interserve
- Mace Group
- Serco Group
Facility management services market segmentation in Middle East based on service
- Soft service
- Hard service
The soft service segment dominated the facility management service market in the Middle East in 2018. This segment will increase its market share and continue to dominate the market for the next five years.
Facility management services market segmentation in Middle East based on geographic region
- Saudi Arabia
- UAE
- Qatar
- Bahrain
- Kuwait
- Oman
Saudi Arabia accounted for the largest share of the facility management service market in Middle East in 2018. This region will be the highest revenue generator and remain the market leader throughout the next five years.
Key highlights of the facility management services market in Middle East for the forecast years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the facility management services market in Middle East during the next five years
- Precise estimation of the facility management services market size in Middle East and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- Growth of the facility management services industry across the Middle East
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive information about factors that will challenge the growth of facility management service companies in Middle East
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