Saudi Arabia Integrated Facility Management Market to Grow Due to Technological Advancement until 2026
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.
Browse over XX market data Figures
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in-depth TOC on "Saudi Arabia Integrated
facility management Market"
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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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