Saudi Arabia Facility Management Market: Size, Share, and In-Depth Competitive Analysis Toward 2028Posted by Kumar on July 3rd, 2024 Industry Key HighlightsSaudi Arabia Facility Management Market has valued at USD 26.28 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 8.05% through 2028. The Saudi Arabia Facility Management Market is characterized by dynamic growth and transformation, driven by a convergence of economic, urban, and technological factors. As the Kingdom embraces its Vision 2030 plan, which seeks to diversify the economy and promote sustainable development, the demand for facility management services has surged across various sectors. Rapid urbanization and extensive infrastructure development have been key catalysts, with the construction of commercial buildings, residential complexes, healthcare facilities, and educational institutions shaping the landscape. This boom in construction has necessitated professional facility management to ensure the efficient operation, maintenance, and sustainability of these assets. Browse over 95 market data Figures spread through 347 Pages and an in-depth TOC on the "Saudi Arabia Facility Management Market" Emerging TrendsTechnological Advancements and IoT IntegrationThe Internet of Things (IoT) is revolutionizing facility management by enabling devices to communicate performance data to Facility Management (FM) teams. These advancements provide real-time operational insights and early warning systems, allowing for proactive management and maintenance. IoT devices, when integrated with FM software like Computerized Maintenance Management Systems (CMMS), can identify issues, autonomously generate and allocate work orders, and monitor their completion, thus enhancing efficiency and reducing downtime. In March 2024, SIERRA unveiled its eFACiLiTY Enterprise Facility Management Software, which operates on a Software as a Service (SaaS) subscription model hosted on Microsoft Azure. This software offers a virtual assistant that leverages AI and machine learning to diagnose issues and streamline the creation of work orders, exemplifying the impact of technological advancements in the sector. Increased Investment in InfrastructureThe Saudi Arabian government is rapidly investing in infrastructure projects to diversify the economy . These projects encompass air transport, urban planning, logistic centers, tourism, and various other sectors, creating fertile ground for facility management services. The maintenance of these facilities and new infrastructure is crucial, further driving the demand for facility management services. Outsourced Facility ManagementOutsourced FM has been successfully adopted across various industries, including the public sector, retail, professional services, healthcare, technology, logistics, manufacturing, and education. The scope of FM services varies widely depending on the type and size of the company and the sector in which it operates. The trend of outsourcing facility management functions has gained traction, with organizations recognizing the strategic advantages of entrusting specialized providers with non-core functions.
Customers can also request for 10% free customization on this report. Drivers of Market GrowthVision 2030 and Economic DiversificationVision 2030 is Saudi Arabia's ambitious plan to diversify its economy away from oil dependency, promoting sustainable development and creating new opportunities across various sectors. This initiative has led to significant investments in infrastructure and construction projects, fueling the demand for facility management services. As part of Vision 2030, the government aims to enhance urban development, boost city competitiveness, and achieve urban sustainability, further driving the need for professional facility management. Increasing Construction ActivitiesThe major factor driving the growth of the market is the growing infrastructure industry, supported by numerous construction projects in various stages of execution. The Ministry of Municipal and Rural Affairs' Application of Smart City Concepts initiative aims to enhance urban development, reduce the environmental impact, attract investments, and create job opportunities, thereby increasing the demand for facility management services. Competitive AnalysisThe Saudi Arabia Facility Management Market is highly competitive, with numerous key players contributing to its growth and development. Here are some of the prominent companies operating in the market:
Future OutlookThe future of the Saudi Arabia Facility Management Market looks promising, with continued growth expected across various sectors. The government's commitment to Vision 2030 and economic diversification will drive further investments in infrastructure and construction projects, increasing the demand for facility management services. Sustainability and Green Building PracticesSustainability and environmental responsibility are becoming increasingly important in the facility management market. Providers are adopting green building practices, energy-efficient solutions, and waste reduction programs to align with global environmental goals and reduce operational costs. These initiatives will continue to gain prominence as organizations seek to minimize their environmental impact. Technological Integration and Smart BuildingsTechnological advancements, particularly in smart building solutions and IoT integration, will continue to reshape the industry. These technologies enhance building efficiency, security, and occupant comfort, aligning with the evolving needs of clients for modern, tech-driven solutions. The adoption of integrated facility management (IFM) solutions, offering comprehensive services that span maintenance, security, cleaning, energy management, and more, will also rise in prominence. Recent DevelopmentsPartnerships and Strategic Alliances
Expansion and Acquisitions
Regulatory Developments
Top 10 Companies in Saudi Arabia Facility ManagementThe Saudi Arabia Facility Management Market is home to several key players who have established themselves as leaders in the industry. Here are the top 10 companies: Here is the information about the companies you asked for:
o Founded: 2009 o Headquarters: Riyadh, Saudi Arabia o About: Saudi EMCOR Company Ltd is a subsidiary of EMCOR, a global company that designs, manufactures, and services elevators, escalators, and moving walkways.
o Founded: 1992 o Headquarters: Jeddah, Makkah Al Mukkaramah, Saudi Arabia o About: Muheel Services for Maintenance & Operations LLC provides a wide range of facility management services and solutions, tailored to meet the diverse needs of clients.
o Founded: 2002 o Headquarters: Abu Dhabi, United Arab Emirates o About: Khidmah LLC is a leading facilities management company that provides a wide range of innovative health care products and services.
o Founded: 2002 o Headquarters: Dubai, United Arab Emirates o About: Enova Facilities Management Services LLC is a leading facilities management company that provides a wide range of innovative health care products and services.
o Founded: 1931 o Headquarters: Jeddah, Saudi Arabia o About: Saudi Binladin Group Operation & Maintenance is a leading facilities management company that provides a wide range of innovative health care products and services.
o Founded: 1992 o Headquarters: Al-Khobar, Saudi Arabia o About: Musanadah Facilities Management Co. LTD provides premium professional facility maintenance services to the residential and commercial sectors within the Eastern Province of Saudi Arabia.
o Founded: 1988 o Headquarters: Al-Khobar, Saudi Arabia o About: Al Mahmal Facilities Services was established with the aim of providing premium professional facility maintenance services to the residential and commercial sectors within the Eastern Province of Saudi Arabia.
o Founded: Not available o Headquarters: Not available o About: Not available
o Founded: 1992 o Headquarters: Al-Khobar, Saudi Arabia o About: Five Moons Co. Ltd was founded with a vision to offer professional Facility Maintenance services to commercial and residential customers throughout the Eastern Province of Saudi Arabia.
o Founded: 2007 o Headquarters: Al-Khobar, Saudi Arabia o About: Takamul AlOula Facility Management provides integrated facility management services such as property management, marketing, and facilities management to the real estate branch of the group. Benefits of the Research Report
Increasing Construction Activities Drive MarketThe major factor driving the growth of the market is the growing infrastructure industry owing to the large number of construction projects in various stages of execution. The country is expected to witness tremendous growth in construction activities, supported by the government. For example, the Ministry of Municipal and Rural Affairs has launched the Application of Smart City Concepts initiative as one of the municipal transformation projects emanating from the National Transformation Program 2020 and the Saudi Vision 2030. The major aim of the initiative is to enhance urban development in the country, which will further increase the level of satisfaction of people, boost the competitiveness of cities, and help in the achievement of urban sustainability. Further, this initiative has an objective to increase the productivity of city management, reduce the negative environmental impact, attract local & foreign investments, and create job opportunities. The government has also planned to target five cities in the country to apply the concept of smart cameras, smart parking, smart solid waste disposal, smart lighting systems, and environment pollution monitoring tools, which is expected to drive the need for facility management services in the country. With mega projects such as AMAALA, King Salman Park, QIDDIYA, Red Sea project, Jabal Omar, Diriyah Gate, NEOM, and King Abdullah Financial District, the Saudi Arabian government has also invested USD 2 million as seed capital in residential maintenance startups, such as B8ak, FalconViz, Ajeer, and Muqawiloon, which will further drive the market of Saudi Arabia facility management. Additionally, in February 2023, Saudi Arabia’s crown prince, Mohammed bin Salman, unveiled a grand plan, called the New Murabba Development Co., to redevelop the capital city of Riyadh. The plan aims at creating the world’s largest and most-modern downtown in Riyadh. With dimensions of 400 meters in length, breadth, and height each, The Mukaab shall be the largest built structure in the entire world. Being built in the classic Najdi architectural style, it will house an immersive experiential destination with technological and digital innovations and engaging holographics. Moreover, the Public Investment Fund (PIF) and the National Transformation Program (NTP) are two pivotal elements of Saudi Arabia's Vision 2030, each playing distinct but complementary roles in the country's economic diversification and development strategy. These programs boost the construction industry in the country. The Saudi Arabia Facility Management Market is poised for significant growth, driven by the government's Vision 2030 plan, technological advancements, and increasing construction activities. As the market continues to evolve, the adoption of smart building solutions, sustainability practices, and outsourced facility management will play crucial roles in shaping its future. The insights provided in this research report offer valuable guidance for market participants to navigate the dynamic landscape and capitalize on emerging opportunities. “The Saudi Arabia Facility Management Market is a rapidly evolving landscape driven by economic diversification and urbanization. Vision 2030 initiatives have spurred extensive infrastructure development, boosting demand for professional facility management services. Riyadh, as the commercial and administrative hub, leads in this sector. Sustainability is a focal point, with providers adopting green practices and technology-driven solutions. Outsourcing facility management functions and the rise of Integrated Facility Management (IFM) solutions are prominent trends. Technology, particularly smart building solutions and IoT integration, is reshaping the market. In essence, the Saudi facility management sector is dynamic, reflecting the Kingdom's pursuit of a diversified and sustainable economy.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm. “Saudi Arabia Facility Management Market Segmented By Service (Property, Cleaning, Security, Support, Catering & Others), By Type (Hard Services { Mechanical, Electrical and Plumbing, Preventive Maintenance, Structural Maintenance, HVAC and Asset Management, Others} and Soft Services {Cleaning Services, Security Services, Catering Services, Health Safety & Waste Management Services, Others }), By Industry (Organized and Unorganized), By End User (Commercial, Residential, Industrial and Public Sector), By Sectors (Education, Healthcare, Real Estate, Banking, Hospitality, Housing, Others), By Mode (In-House, Outsourced {Single, Bundled, Integrated}) By Region, and By Competition, 2018-2028F,” has evaluated the future growth potential of Saudi Arabia Facility Management Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia Facility Management Market. Related Reports- Saudi Arabia Self Cleaning Glass Market Saudi Arabia Rebar Steel Market
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