GCC Facility Management Market Size, Covering Trends, Status and Growth Opportunities by 2019-2024

The GCC facility management market is predicted to grow at 9.4% CAGR during the forecast period with the market size reaching USD 86.8 billion by 2024. The market is driven by factors such as the mounting infrastructure developments and escalating tourism industry.

Escalating emphasis on non-oil sectors, the upsurge in a number of green buildings, growing hospitality sector in the country, mounting real estate market, the surge in project activity involved on tourism such as construction of resort, hotels and budget hotels chain, expanding investment by private and public entities for refining country’s infrastructure are further fuelling the growth of the market.

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The market for facility management in GCC is primarily driven by technological advancements such as the Internet of Things (IoT), smart buildings, big data, building automation and 3D. The mounting connectivity technology and necessity of connected facilities would offer market players immense opportunities for facility management in GCC, which will drive their revenue growth.

The different end users of, the facility management market are commercial, industrial, and residential. Of all these end users, the commercial category is predicted to witness the highest CAGR of 9.8% during the forecast period owing to escalating alertness among end users for commercial building maintenance to minimize expenditure.

Among all modes, the in-house segment accounted for the larger share in the GCC facility management market in GCC, due to elevated acceptance rate, long-standing existence, and comparatively low price. In addition, owing to the dearth of in-house expertise and a requirement to an emphasis on essential abilities, the need for outsourcing facility management services is mounting, which is creating abundant opportunities for the growth of the GCC facility management.

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Geographically, Saudi Arabia is the largest and observed to witness significant growth is the facility management market as the region the tourism industry is increasing. In addition, expanding construction activities, and rapid urbanization are also driving the growth of the Saudi Arabia facility management market.

Key players in the GCC facility management industry are investing in the development of advanced, which is strengthening their position in the market. EMCOR Group Inc., Emrill Services LLC., United Facilities Management, Khidmah LLC, Cofely Besix Facility Management, Kharafi National, Interserve plc, Imdaad LLC, Musanadah Facilities Management Co. Ltd., and Farnek Services LLC are some of the key players offering facility management in GCC.

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