The facilities management service industry in Kuwait is at the nascent stage. The market has observed a vigorous growth over past five years. The facilities management industry has begun augmenting with the outsourcing of soft services such as cleaning, housekeeping and several others in Kuwait Facilities Management is a management discipline that supports and advances the core company processes and augments the return on investment by result-oriented usage of resources, services, and activities, vital to the accomplishment of any organization. The advancements in the technology have been approaching individuals to move towards implementing the facilities management.
According to the report analysis, ‘Kuwait Facility Management Market Outlook to 2021 – Growing Retail Industry and Upcoming Infrastructure Projects to Drive Market Growth’ states that the foremost growth driver for the industry during this duration was rapid augment in the construction sector of the country. The requirement for Facilities management services has also augmented owing to the augmenting requirement of concierge, man-guarding, maintenance and housekeeping services in the commercial buildings and shopping complexes and professionalism in the management of all the facilities with augmenting regards towards cleanliness. Moreover, effective growth in number of super and hyper markets in the country has also completely impacted the requirement for the facilities management services across the country.
Various aspects such as surge in requirement for the cloud-based facility management solutions and increment in requirement for facility management solutions integrated with intelligent software are projected to propel the implementation of facility management solutions and services.
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Based on sectors, the Retail & Commercial sector has largely registered the revenues of the industry with the share of ~% during 2016. Retail sector is majorly requiring the hard services for air-conditioned shopping complexes, commercial buildings and several other publicly accessible and private environments. Hospitality sector has underwritten a share of ~% in terms of revenues during 2016. Residential sector has underwritten ~% in the revenues in 2016 followed by many other industries.
On the basis of Outsourced personnel & Self personnel, outsourced personnel are the foremost contributor in the revenues of the industry with the share of ~% in the revenues during 2016. Majority of the companies across the country are outsourcing the services. Cost-efficiency remains the major driver for consideration and application of outsourcing initiatives by the companies. Self-personnel services have added a share of ~% in the industry.
Facilities management industry will augment at a tremendous rate during coming future. The market will augment at a CAGR of ~% throughout 2016-2021 to reach at USD ~ million in 2021 due to the growing commercial and residential space in the country. Increasing the preferences of population to live in a clean and safeguard the environment which will be professionally managed will boost the require for facilities management services. Increasing the Hotel industry in the country will trigger the requirement for HVAC services, security, cleaning, housekeeping and several other facilities management services. The market will be largely registered by single services during coming future. The single services market will underwrite a share of ~% in 2021. The effective growth in demand for single services especially from residential sector will propel the market.
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Kuwait Facility Management Market Analysis
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