Facility Management Market in Saudi Arabia To Grow by 11.1% CAGR Between 2021 and 2030

Factors such as surging construction activities and flourishing tourism industry are expected to accelerate the Saudi Arabian facility management market at a CAGR of 11.1% during the forecast period (2021–2030). According to P&S Intelligence, the market was valued at $31,264.1 million in 2020 and it is projected to reach $87,216.0 million by 2030. The market growth is also supplemented by the increasing investments in infrastructure development. Moreover, the trends of energy monitoring, robot usage, and heating, ventilation, and air conditioning (HVAC) optimization are also supporting the market growth.

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The bolstering infrastructure industry, primarily on account of rising number of ongoing and upcoming construction plans, will support the demand for facility management services in Saudi Arabia in the coming years. Also, increasing investments in the infrastructure sector and rising government support for infrastructure development will fuel the market growth. For instance, in January 2019, the government unveiled its plan to invest $426 billion by 2030 to develop infrastructure and end-use industries.

At present, the soaring government focus on economic diversification is a prominent trend in the Saudi Arabian facility management market. The government is focusing on the development of a long-term economic roadmap to reduce its dependence on the oil & gas sector. Because of this development, the government has introduced the Saudi Vision 2030, an economic reformation plan, to develop the tourism, healthcare, recreation, education, and infrastructure industries. This visionary plan will result in the construction of different types of buildings and structures, which will require facility management services in abundance.

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The service segment of the Saudi Arabian facility management market is classified into property, environmental management, catering, support, security, and cleaning. Among these, the cleaning category exhibited the fastest growth during the historical period (2015–2020) and it is expected to display the same trend during the foreseeable period as well. Moreover, the category will also account for the largest market share in the coming years, due to the ongoing COVID-19 pandemic. This has augmented the demand for cleaning services because people have become extra cautious regarding general hygiene.

Thus, the booming tourism sector and the strengthening infrastructure industry will support the market growth in the coming years.

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