Introduction of the Saudi Arabia Facility Management Market Report

The facility management can be defined as a range of disciplines and services that ensures the functionality, comfort, safety and efficiency of the built environment by integrating people, place, process and technology. It contributes to the effective and efficient delivery of an organizations strategic and operational goals while providing a safe, productive, and comfortable environment.

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Market Dynamic

Key Drivers and Emerging Trends

Rapid industrialization and the growing adoption of the Internet of Things, industrial automation, and employee engagement programmes is expected to drive the growth of the facility management market in Saudi Arabia. In addition, facility management offers various benefits to an organization’s business strategy, communications management, operational efficiencies; support productivity of facilities and personnel; manages risks to facilities and personnel; promotes sustainable tactics for long-term cost management; reduces effects of natural disasters; and leverages security to the organization.

Moreover, the rising infrastructure development projects across the Kingdom of Saudi Arabia, that include Qiddiya Entertainment City, King Abdullah Financial District, Neom City, the Red Sea Project, and others and the Saudi Vision 2030 development plan, are expected to accelerate the development of digital infrastructure and encourage the expansion of businesses and corporates. This is expected to augment the growth of the facility management market in the country.

Restraint in the Saudi Arabia Facility Management Market

However, lack of managerial awareness, skilled workforce, and standardization are some of the major factors expected to restraint the growth of the Saudi Arabia facility management market over the forecast period. Additionally, increasing security concerns pertaining safety of devices and networks and the growing number of security breaches may further limit the market growth of the facility management market in Saudi Arabia.

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The continuous increase in the construction activities primarily through public private partnerships (PPPs) is anticipated to contribute to the rise in the demand of facility management, including HVAC equipment and plumbing, maintenance services, cleaning, security, catering, and support services. On the basis of solution, the market offers strategic planning and project management, maintenance management, workplace and relocation management, sustainability management among others.

According to World Travel & Tourism Council (WTTC) 2019 research, there has been a growth of 14% in Travel & Tourism in Saudi Arabia, contributed 9.5%, including direct, indirect and induced impacts, to the Kingdom’s total economy. The growth in the tourism industry is expected to increase the demand for facility management services across the country over the forecast period.

The facility management solutions and services are used across several industries including Banking, Financial Services, and Insurance (BFSI), IT and Telecom, government and public administration, healthcare, education, retail, energy and utilities, manufacturing, construction and real estate among others. The facility management help in managing various operations processes, including asset management, maintenance management, space management, and work order tracking. The growing need for integrating data and the increasing focus on the complete management and maintenance of the buildings, people and assets of the business is expected to support the growth of the market in the country.

Moreover, the introduction of cloud-based facility management software provides management of business activities from remote locations. It helps in effective communication and collaboration with business teams remotely and in accessing the resources and assets through the internet. The facility management offer overall efficiency by saving time, reducing costs, and adding more value through proper maintenance and usages of the assets; provide space optimization tools to make the most out of office space; easy customization including customized dashboard for data visualization and automated report scheduling; and allows efficient tracking and management of business assets and provides real-time data for proper analysis.

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Key Developments:

• • In 2020, ENGIE Cofely, one of the prominent leaders in providing zero-carbon energy and innovative integrated facilities management solutions signed an agreement with the Energy City Development Company (“ECDC”), the owner and developer of King Salman Energy Park (“SPARK”). With this agreement, ENGIE Cofely will provide facilities management advisor and training provider for SPARK.

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Key questions answered in this research report:

• • At what pace is Saudi Arabia Facility Management Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Saudi Arabia Facility Management Market? What will be the impact of drivers and restraints in the future?
  • What are the various areas of Saudi Arabia Facility Management Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?