Tue. Dec 6th, 2022

Companies Covered in the Saudi Arabia Facility Management Market are Sodexo, CBRE Group Inc., Compass Group PLC, Cushman & Wakefield, Tenon Group, Dussmann Group, Majid Al Futtaim – ENOVA, MEEM Facility Management Co., MUHEEL SERVICES, INITIAL SAUDI GROUP, Al Mahmal Facilities Services Company, Afras, TOFM, EFS Facilities Services Group, G4S Limited, Munjz , TAMAM , Fanni, AJEER, Albaap, Just Mop

/EIN News/ — Pune, India, June 20, 2022 (GLOBE NEWSWIRE) — The Saudi Arabia Facility Management Market size was USD 22.40 billion in 2020. The market is projected to grow from USD 22.87 billion in 2021 to USD 34.86 billion in 2028 at a CAGR of 6.2% in the 2021-2028 period. Fortune Business Insights™, provide this information in its report, titled, “Saudi Arabia Facility Management Market, 2021-2028.” Based on the extensive research conducted by our analysts, the prospects for Saudi Arabia facility management are expected to rise due to increasing governmental impetus for industry localization has become an indispensable struggle to augment the economic condition of GCC nations, while declining the region’s dependence on oil incomes.

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Key Players Covered in the Saudi Arabia Facility Management Market Report

  • Sodexo (Issy-les-Moulineaux, France)
  • CBRE Group Inc. (Los Angeles, U.S.)
  • Compass Group PLC (Chertsey, U.K.)
  • Cushman & Wakefield (Chicago, U.S.)
  • Tenon Group (Gurugram, India)
  • Dussmann Group (Berlin, Deutschland)
  • Majid Al Futtaim – ENOVA (Dubai, UAE)
  • MEEM Facility Management Co. (Riyadh, Saudi Arabia)
  • MUHEEL SERVICES (Jeddah, Saudi Arabia)
  • INITIAL SAUDI GROUP (Jeddah, Saudi Arabia)
  • Al Mahmal Facilities Services Company (Al Khalidiya, Saudi Arabia)
  • Afras (Riyadh, Saudi Arabia)
  • TOFM (AlKifah Holding) (Al Khobar, Saudi Arabia)
  • EFS Facilities Services Group (Dubai, UAE)
  • G4S Limited (Jeddah, Saudi Arabia)
  • Munjz (Dammam, Saudi Arabia)
  • TAMAM (Riyadh, Saudi Arabia)
  • Fanni (Jeddah, Saudi Arabia)
  • AJEER (Riyadh, Saudi Arabia)
  • Albaap (Riyadh, Saudi Arabia)
  • Just Mop (Dubai, UAE)

COVID-19 Impact

COVID-19 Burdens Value & Supply Chain of Facility Management Services

The COVID -19 outbreak had colossal undesirable influence on the value chain and supply chain operations in the facility industry. The disruption in the value and supply chain with volatiles demand and supply of the facility services, combined with stringent government constrictions have limited the logistics operations in the market.

As of November 2020, the amount of COVID-19 active cases in GCC region deteriorated by 50%, with fatality rates falling below average. With the government’s emphasis over accentuating health an economic requirement, monetary and economic guidelines are likely to remain accommodative until the GCC region’s recovery is well settled.

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Report Coverage

The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide the predicted size of the market. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver accurate information to make business investment decisions simple for you. The study also covers financial aspects for the Saudi Arabia facility management sector while presenting a forecast for the forecast duration.

Report Scope & Segmentation:

Report Attribute Details
Market size value in 2020 USD 22.40 billion
Revenue forecast in 2028 USD 34.86 billion
Growth Rate CAGR of almost 6.2% 2021-2028
Base Year 2020
Historical Year 2017 – 2019
Forecast Year 2021 – 2028
Segments Covered By Service Type, By Industry Vertical, By Region
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2020 to 2027
Regions Covered North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World
Countries Covered Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered Sodexo, CBRE Group Inc., Compass Group PLC, Cushman & Wakefield, Tenon Group, Dussmann Group, Majid Al Futtaim – ENOVA, MEEM Facility Management Co., MUHEEL SERVICES, INITIAL SAUDI GROUP, Al Mahmal Facilities Services Company, Afras, TOFM, EFS Facilities Services Group, G4S Limited, Munjz , TAMAM , Fanni, AJEER, Albaap, Just Mop
Saudi Arabia Facility Management Market Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Segmentation

Based on service type, the market is classified into hard, soft and other facility services. Amongst which the soft services segment is expected to grow significantly at the highest CAGR.

Based on industry vertical, the market segmentation is branched into healthcare, government, education, military & defence, real estate, and others.

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Drivers and Restraints

Government Initiatives of Investing in Tourism & Construction Industry to Boost Growth

Presently, the government of Saudi Arabia is incessantly working on its economic diversifications by financing in its tourism industry. Over the last few years, the government has invested profoundly in expanding its non-oil economy. Furthermore, underneath the program known as Vision 2030, the government has commenced to open up its tourism sector by executing numerous noteworthy changes.

Moreover, since 2019, the government has begun allotting tourist visas for the first time, which is the most significant modification that has taken place. Therefore, this is expected to bolster the Saudi Arabia facility management market growth.

Country Insights

The Saudi Arabia facility management market share is anticipated to grow substantially in the upcoming future, owing to the unceasing development in urbanization and industrialization. The governments are financing in the expansion of railways, ports, airports and several other sectors.

For this, the governments are merging with numerous private Saudi Arabia facility management service providers, comprising facility management service suppliers, to preserve the clean and green infrastructure. The investment from the private sectors is anticipated to upsurge stunningly in the upcoming future, which is likely to thrust the market growth across the region.

Competitive Landscape

Acquisitions and Mergers Commenced by Vital Companies to Endorse Market Growth

The leading players in the market constantly opt for efficient strategies to thrust their brand value as well as endorse the global market growth of the product with tackling minimum possible hurdles. One such efficient strategy is procuring competitive companies and further securing a profit for both the companies.

Industry Development

June 2020: Sodexo teamed up with Bureau Veritas to unveil hygiene verification label for Sodexo services that provides quality reassurance to consumers. This collaboration encompasses on-site facilities management services as well as catering services.

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Table of Content

  • Introduction

    • Definition, By Segment
    • Research Approach
    • Sources
  • Executive Summary
  • Market Dynamics

    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19

      • Short-term Impact
      • Long-term Impact
  • Competition Landscape

    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Force Analysis
    • Saudi Arabia Facility Management Market Share Analysis, 2020
  • Key Market Insights and Strategic Recommendations
  • Profiles of Key Players (Would be provided for 10 players only)

    • Overview

      • Key Management
      • Headquarters etc.
    • Offerings/Business Segments
    • Key Details (Key details are subjected to data availability in public domain and/or on paid databases)

      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Gross Margin
        • Geographical Share
        • Business Segment Share
    • Recent Developments
  • Primary Interview Responses
  • Annexure / Appendix

    • Saudi Arabia Facility Management Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028

      • By Service Type (Value)

        • Hard Services
        • Soft Services
        • Other Services
      •  By Industry Vertical (Value)

        • Healthcare
        • Government
        • Education
        • Military & Defence
        • Real Estate
        • Others (IT & Telecommunication, BFSI, etc.)

TOC Continued

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Article originally published at https://www.einpresswire.com/article/577570210/saudi-arabia-facility-management-market-to-hit-usd-34-86-billion-by-2028-government-initiatives-of-investing-in-tourism-construction-industry-to

originally published at Science - Reality Syndicate Viewers

This news story originally appeared at Science - Reality Syndicate Viewers on 21 June 2022