Advancing technology is driving the growth of Saudi Arabia Integrated facility management Market, in the forecast period, 2022-2026.
According to TechSci report on, “Saudi Arabia Integrated Facility Management Market By Type (Hard Service and Soft Service) By Service (Building and Property Management, Cleaning and Hygiene, Security and Staffing, IT Support and Others) By Solution (Asset & Space Management, Project Management & Real Estate Portfolio Management & Lease Administration, Energy & Environment Sustainability Management, Maintenance Management and Others) By End-User (BFSI, Utilities, Aerospace & Defense, Telecommunication, Manufacturing, Supply Chain & Logistics, Real Estate & Infrastructure, Healthcare, Retail, Energy & Resources and Others) By Organization Size By Region, Competition Forecast & Opportunities, 2026”, Saudi Arabia integrated facility management market has shown promising growth in historical years until 2019 and is expected to continue its growth in upcoming forecast years 2021 to 2026. Saudi Arabia integrated facility management market owes its growth to the factors like rapidly rising demand for integrated facility management and intelligent software solutions. Moreover, integration of building information modelling software with facility management solutions is further expected to drive the market growth in the upcoming five years. Furthermore, surging demand for the cloud based IT services is aiding the growth of the Saudi Arabia integrated facility management market in the future five years of forecast. The advantages that the cloud based IT services offer includes reducing the operating costs of organizations as well as enhances security of the systems within and among the different verticals. Integrated facility management is an IT based financial management system that is used by private firms, public firms, government authorities to start, monitor, and manage the assets and finances of their organizations. The system modulates their expenses and monitors their financial activities related to their products, services, their assets, their solution protocols altogether.
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The Saudi Arabia integrated facility management market is segmented into type, service, solution, end-user, organization size, competitional landscape, and regional distribution. Based on service, the market is further bifurcated into building and property management, cleaning and hygiene, security and staffing, IT support (on-premises and cloud) and others. Building and property management is anticipated to hold the largest revenue shares of the market and dominate the market segment on the account of increasing development of the sustainable infrastructure and growing presence of many enterprises to adopt changing organizational structure and work management.
Based on type, the market is divided between hard service and soft services. Soft services are anticipated to hold the larger shares of the market in the next five years and dominate the market segment on the account of increased demand for the various services rendering the asset management, maintenance and monitoring process. Moreover, soft services from the multiple market players are supporting the market growth too. Abundances of the market player in the country and their rapidly increasing number is responsible for the impressive growth of the Saudi Arabia integrated facility management market in the upcoming five years.
A partial list of market player in the Saudi Arabia integrated facility management market includes IBM Middle East FZ-L.L.C. Saudi Arabia, Oracle Systems Limited - Saudi Arabia, SAP KSA Software Trading Co.Ltd, Trimble Solutions Saudi Arabia, Jood Facility Management, Al Borj Facility Management, MEEM Facility Management Co., Boualvard Facilities Management LLC, Muheel Services For Maintenance Operations LLC, Facilities Management (FMCO) Saudi Arabia, among others. These market players hold larger shares of the market than the new market players. With the evolving technology, it is appropriate to say that the effective research and development of the technologically advanced instruments and methods to satisfy consumer demands would support the market growth and benefit the market players as well as the consumers. New market players may focus on the research and development to provide such products and services that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“Saudi Arabia integrated facility management market is rapidly expanding and showing a promising future for the next five years. The market growth is directly proportional to rapidly developing multiple verticals that are actively incorporating integrated facility management for the efficient workflow and asset management of their businesses. With its functions spread into asset management, project management, space management, real estate portfolio management, lease administration, energy management, environment sustainability management, and other maintenance sectors, the demand for the services and solutions is rapidly rising and substantiating the growth of the market. New entrants would have to work in collaboration since the market is pre-defined and extremely competitive,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Integrated Facility Management Market By Type (Hard Service and Soft Service) By Service (Building and Property Management, Cleaning and Hygiene, Security and Staffing, IT Support and Others) By Solution (Asset & Space Management, Project Management & Real Estate Portfolio Management & Lease Administration, Energy & Environment Sustainability Management, Maintenance Management and Others) By End-User (BFSI, Utilities, Aerospace & Defense, Telecommunication, Manufacturing, Supply Chain & Logistics, Real Estate & Infrastructure, Healthcare, Retail, Energy & Resources and Others) By Organization Size By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of Saudi Arabia integrated facility management market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia integrated facility management market.
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