COVID 19 Impacts on Saudi Arabia Facility Management Market: Ken Research
Posted by kenresearch on January 29th, 2021
Saudi Arabia is that the largest marketplace for facility management services within the Gulf Cooperation Council (GCC) province. Facility management (FM) could be a profession that encompasses multiple disciplines to confirm the particularity, comfort, safety, and competence of the built surroundings by participating in people, place, method, and technology. Today, FM has full-grown as a customer delight by expending the latest technology and modular building models to accommodate numerous desires, giving technique to managing facilities.
According to the study, ‘Saudi Arabia Facility Management Market: Market Segments: By Service (Property[HVAC Maintenance, Mechanical & Electrical Maintenance], Cleaning, Security, Catering, Support, Environmental Management and Other Services);By End User (Commercial, Residential&Industrial)By Mode (In-House&Outsourced[Integrated, Bundled, Single]); By Type (Hard, Soft and Others); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030’ definite that there are nearly corporations that at the moment working additional successfully for leading the foremost operative development of the market and finding the productive competitive edge whereas acceptive the productive moneymaking that interval during that and policies like joint ventures, mergers and acquisitions, partnership, merger, and merchandise development includes EMCOR Group Inc, Musanadah Facilities Management Co. Ltd, Al Borj International, Al Hajry Overseas Co. Ltd., Enova Facility Management, Petrojana, Rezayat Group, Nesma Trading Co. Ltd, Interserve plc, Khidmah LLC. In February 2020, Engie Cofely, a division of Engie S.A., assimilated two contracts for providing facility management services. The corporation signed a contract to arrange for facility management recommended and working out services at King Salman Energy Park (SPARK) and International Maritime Industries (IMI), within the country. In March 2019, EMCOR Group Inc. signed an agreement with Tatweer Buildings Corporation for provided that facility management services for three years. The company’s starring role as a managing agent would embrace the provision of the services at 2,714 schools through Saudi Arabia, as well as in the cities of Jeddah, Mecca, and Madinah. The country's severe staffing policies and labor laws act as the main constraints on Saudi Arabia facility management market's expansion. Overtime charges are exactly of the main points of labor law; compulsory benefits like paid leave, sick leave, gender equality, termination of service benefits, health insurance, and termination of employment; and others. Market-based corporations also face problems with securing workers' authorizations, seeking housing for employees, and others
The Saudi Arabia Facility Management market is segmental on the basis of Service, End User, Mode, and Type. Based on Service, the market is disseminated into Property services, Cleaning services, Security services, Catering services, Support services, Environmental management services, and Other services. Based on End User, the market is characterized into Commercial, Industrial, and Residential. Based on Mode, the market is categorized into In-house, Outsourced. Based on Type, the market is characterized into Hard, Soft, and Others.
Furthermore, Saudi Arabia's facilities management sector is basically driven by the increasing infrastructure industry, due to a large number of construction projects at dissimilar stages of the country's execution. Strong government maintenance, along with growing investment in the sector is motivating the need for facility management services within the region. The Saudi government launched the 'Smart City' initiative to progress infrastructure projects, in which the government tactics to organize smart cameras, smart parking solutions, smart solid waste disposal, smart lighting systems, and observing tools for environmental pollution, which are expected to drive the essential for services to conserve these systems. During the forecast period, such factors are predicted to rise the marketplace for facility management in Saudi Arabia.
For More Information on the Research Report, refer to the below links: -
Saudi Arabia Facility Management Market Future
Vietnam Facility Management Market Outlook to 2023 - By Single, Bundled And Integrated Services; By Soft Services (Housekeeping, Security, Landscaping And Others) And Hard Services (Electromechanical Services, Operations And Maintenance Services, Fire Safety And Security Systems), By End User Sectors (Commercial, Industrial, Hospitality, Residential, Infrastructure And Others)
Ankur Gupta, Head Marketing & Communications
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