Pune, India, Dec. 12, 2023 (GLOBE NEWSWIRE) — The Saudi Arabia Facility Management Market is projected to reach USD 43.48 billion by 2030, growing at a CAGR of 8.6% from 2023 to 2030, according to a report by Fortune Business Insights. The market, valued at USD 23.54 billion in 2022, is expected to witness significant growth due to government support and rising investments in the sector.
In recent years, GCC countries have focused on developing their private sectors, leading to job creation and economic transformation. The localization of the industry has become a key aspect of this transformation. Fortune Business Insights™ has provided detailed information on the Saudi Arabia Facility Management Market in its research report titled “Saudi Arabia Facility Management Market, Forecast 2023-2030.”
In February 2022, Khidmah, a leading facility management and maintenance services company in the region, launched Khidmah Home, an innovative digital platform. This platform aims to provide property owners and residents with efficient facility management and maintenance services.
The COVID-19 pandemic had a significant impact on the facility management market in Saudi Arabia. Disruptions in supply chains led to changes in demand and supply for facility services. To adapt to the new normal, many manufacturers have started using robots to establish cost-effective and highly productive facility management departments.
The report provides a comprehensive analysis of the Saudi Arabia Facility Management Market, including market drivers, restraints, and the impact of COVID-19. It also covers the segmentation of the market by service type and industry vertical, as well as regional insights. The report profiles key market players and offers a detailed competitive landscape.
Key manufacturers operating in the market include Sodexo, CBRE, Majid Al Futtaim – ENOVA, and MEEM FM. These players have been acquiring small and medium enterprises and partnering with universities to enhance their service activities and create profitable business structures.
For more information on the Saudi Arabia Facility Management Market, including a customized research report, please visit Fortune Business Insights™.