Property Sector to Dominate the Oman Facility Management Market during the forecast period in the Oman Facility Management Market
Government projects and increased spending on infrastructure
projects to drive the Oman facility management market growth in the forecast
period.
According to TechSci Research report, “Oman Facility
Management Market - By Region, Competition Forecast & Opportunities,
2018-2028,” the Oman Facility Management Market is expected to register robust
growth during the forecast period, 2023-2028. Facility management (FM) is on
the rise with rapid urbanization and increased spending on infrastructure
projects. Facility management is useful because it is a common service required
in residential, commercial, and many other areas. With both government and
private projects on the rise, owners want to create world-class facilities for
themselves and others. Facility management has been around for a long time, but
over time companies have changed their model of service delivery while
introducing new devices that offer more security. Many market players also now
offer the integration services required by FM services put together by a team.
By using FM services as needed owners can expect to extend the overall useful
life of their buildings by a few more years, allowing owners to renovate their
buildings with minimal disruption and harm to no one.
Facilities management is on the rise in Oman as the
government has taken several important initiatives, such as rebuilding the
country's infrastructure and changing urban planning as part of Oman Vision
2040. Oman has also taken several steps to increase foreign direct investment into
the country, leading the country to build commercial hubs around Oman. Many
companies see this as an opportunity to grow their workforce and engage in
innovation in the facility management market. Oman also sees Vision 2040 as an
opportunity to get out of its oil, fishing, and trading economy to add
financial and real estate sources into its GDP, which will secure its income in
case oil is low in quantity. Moreover, the country expects its FDI investment
to increase in the forecast period.
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over XX market data Figures spread through 70 Pages and an in-depth TOC on the "Oman Facility Management Market."
The Oman Facility
Management Market is segmented into service, type, industry, end user, and
sectors. Based on service, the market is divided into Property,
Cleaning, Security, Support, Catering & Others. Over
the course of the forecast period, it is expected that demand for property
services would rise because of growth in the industrial and commercial sectors,
as well as favorable lending circumstances, rising purchasing power parity, and
a booming housing sector. Throughout the forecast period, the property and
facility management market is expected to benefit from favorable
socio-demographic characteristics such as income level, literacy level, and the
growth of the financial sector. The government has also put economic policies
into place and launched incentive programmes to help the development of a
variety of industries, including the real estate sector.
Based
on type, the market is segmented into hard & soft. During the projected
period, the soft segment in the type is expected to dominates the demand for Soft FM services has significantly
increased, with a special focus on cleaning services to cleanse business areas
and follow hygiene guidelines. Businesses are putting more effort into
enhancing productivity and streamlining daily tasks while consuming less
energy. Because of this, companies that manage soft services facilities use
automation technology to cut back on energy usage.
Based
on Industry, the
market is segmented into Organized, Unorganized. During
the projected period, the unorganized segment is expected to dominate the
market in the forecast period of 2023-2028. Many business owners are only
interested in providing 1 or 2 services while working alone or with an
assistant. By doing this, they narrow their focus to services that are simple
to complete, demand fewer skilled resources, and don't demand a significant
investment in equipment.
Based
on End User, the
market is segmented into Commercial, Residential, Industrial, Public
Sector. During the projected period, the commercial segment in the service type held the largest market share
with robust CAGR during the forecast period.
Based on Sectors, the market is segmented
into Education, Healthcare, Real Estate, Banking, Hospitality,
Housing, Others. During the projected period, the Real Estate segment is expected
to dominate the market in the forecast period of 2023-2028. The Omani
government is focused on building many residential and commercial complexes.
Key market players in the Oman Facility Management Market: -
- Qurum International Group
- Oman International Group SAOC
- Renaissance Services SAOG
- Daud Engie Group
- Bahwan Engineering Company LLC
- Al Naba Services LLC
- General Electric & Trading Co. LLC (Genetco)
- G4S Facilities Services LLC
- Stalwart Facilities Management LLC
- United Facilities Management Services LLC
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"Facility management services come with an
increasing number of infrastructure projects. Rapid urbanization has given way
to new construction and maintenance of previous ones to meet Oman's facility
management needs. Oman with Vision 2040 sees an opportunity to come into the eyes
of big investors," said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Oman Facility Management Market By
Service (Property, Cleaning, Security, Support,
Catering & Others), By Type (Hard Services and Soft Services), By Industry (Organized, Unorganized), By End
User (Commercial, Residential, Industrial, Public Sector), By Sectors
(Education, Healthcare, Real Estate, Banking, Hospitality, Housing, Others) By
Region, Competition Forecast
& Opportunities, 2018-2028,” has evaluated the
future growth potential of Oman 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 Oman Facility Management Market.
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