The industry of the facility management across the developed region has observed a speedy growth during the few years. The market has augmented in millions during the recent past years at an effective CAGR. The positive growth in the infrastructure industry and booming the hospitality segment in the respective region has developed the requirement for the facilities management services in the region. In addition, the growth in the project activity centered on the tourism, construction of resorts, hotel and budget hotel chains in the kingdoms have upstretched the requirement for the soft and hard services in the respective economy. The positive augment in the real estate market in Saudi Arabia has augmented the quantity of residential and commercial units. This has resulted in the growing requirement for the facilities management services particularly housekeeping services.
Not only has this, but the market of facility management can be majorly sectored based on the types of services suggested such as hard services and soft services. Whereas, the hard services registered the market of facilities management in the developed region with an effective percentage in the revenue during the recent past years. The soft services have added an effective percentage share in the terms of revenues during the recent past years. The positive growth in the construction facilities coupled with the fresh green and energy proficient concept in the design of the shopping center, hospitals, airports, and several others have led to developing in the requirement of the HVAC, functions, and maintenance services, electromechanical services, and fire safety and security system further impacting the facility management market more enormously.
Furthermore, based on the integrated services, bundled services, and single services, an integrated service was the largest underwriter in the market with the handsome amount of percentage share in the revenues of the facilities management industry during the recent past years. In Saudi Arabia, the corporates opt for integrated services in order to restrict the complexity by decreasing the number of services merchants, manage the single point of contact and introduce the financial certainty of the consumers. For instance, single services have underwritten an effective percentage of shares in the revenues of the industry. The bundled services are the least underwriter in the revenues of the industry.
Although, based on the sector, the residential segment was in led with the effective percentage of share in the facility management in terms of revenue generation during the recent past years. In Saudi Arabia, the government’s initiative following the Arab Spring in 20122 announced the schedule of the construction which led to the growth in the residential segment further growing the requirement of the facility management services market in this segment. The commercial segment has added an effective percentage of shares in the revenues of the industry. Not only has this, but the hospitality segmented also added an effective share of percentage in the revenues of the facility management industry. Several other segments involve logistics, oil and gas, education and several others. Furthermore, the positioning of the foremost players in the facility management industry. Although, the market has been elevated due to the growing awareness and requirement of the facility management market. Therefore, in the coming years, it is anticipated that the market of facility management will increase around the globe over the near future.
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