With the growth of the construction industry in the kingdom, the Saudi Arabia facility management market is predicted to cross $76,244.9 million by 2030, from $32,480.4 million in 2019, at a 9.3% CAGR between 2020 and 2030. The Smart City initiative launched by the Saudi government in 2017 has been giving a strong push to its construction sector. Under the initiative, the government plans to install smart parking, smart cameras, smart lighting system, smart solid waste disposal, and environmental pollution monitoring tools in five Saudi cities. In addition, an investment of $500 billion in infrastructure development has been planned under Saudi Vision 2030.
The Saudi Arabia facility management market faced some hurdles in the wake of COVID-19, as most commercial settings, such as malls, hotels, theaters, and recreational centers, were closed. In addition, even entry to mosques was barred and the Hajj pilgrimage put in a limbo, to curtail the spread, which significantly reduced the requirement for facility management services. But, since the kingdom has now lifted the lockdown, the market is expected to pick up again.
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The objective of this research includes;
Saudi Arabia Facility Management Market Segmentation Analysis
The property category, based on service, dominated the Saudi Arabia facility management market in 2019, and the situation is not expected to change during the next decade. This is attributed to the burgeoning construction sector, which is creating a huge demand for mechanical and electrical maintenance, heating, ventilation, and air conditioning (HVAC) maintenance, general maintenance, sales and leasing, space planning and design, advertisement of rental properties, and asset management, which are offered as part of property services.
During 2014–2019, the commercial division, under the end user segment, held the largest share in the Saudi Arabia facility management market, because large-scale commercial facilities, such as shopping complexes, malls, recreational spaces, offices, and theaters, require numerous services, including renting, property accounting, procurement management, and contract management.
The Saudi Arabia facility management market comprises a large number of players, such as EMCOR Group Inc., Khidmah LLC, Interserve plc, Al Borj International, Petrojana, and Nesma Trading Co. Ltd.
The research includes detailed analysis of;
Based on Service
Based on End-Use
Based on Mode
Based on Type
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