Saudi Arabia facility
management market stood at USD23.30 billion in 2021 and is forecast to grow at
a CAGR of 6.97% through 2027. The growing number of organizations seeking to
strengthen their positions in the facility management market and increasing
investments in large-scale infrastructure projects such as Qiddiya, the Red Sea
Project, Jabal Omar, and Al Widyan are expected to boost the demand for
facility management services in the country. Saudi Arabia has many holy sites
for the Islamic community, thus registering many travelers and visitors every
year, resulting in huge opportunities for the construction and hospitality
industries. Therefore, all these aspects are anticipated to drive the demand
for facility management services in Saudi Arabia during the forecast period.
Facility management
(FM) is a profession which includes various disciplines ensuring comfort,
functionality, efficiency, and safety of the built environment by incorporating
place, people, process, and technology. Facility Management (FM) aims at how
these services are being managed. It is a management discipline that ensures
efficient and effective support services for different organizations. It is a
function within an association that incorporates people, process, place, and
technology within the existing environment and aims at improving the
productivity of the organization and the quality of people’s lives. Facility
Management (FM) covers a range of areas such as cleaning, security, health
& safety, building maintenance, catering & hospitality, environmental
services such as waste
management,
etc.
Increasing Growth in Tourism and Construction Industry
The Government of Saudi Arabia is constantly working on
expanding its economy by investing in the tourism industry. With the growth of
the tourism industry in recent years, there has been an increase in demand for
security, maintenance facilities, catering, and various other services.
Furthermore, Saudi Arabia's ministry of tourism has announced plans to launch a
tourism development fund, which is expected to raise demand for facilities
management services. Moreover, the Saudi government launched the 'Smart City'
initiative to develop infrastructure projects, in which the government plans to
deploy smart parking solutions, smart cameras, smart solid waste disposal,
smart lighting systems, and monitoring tools for environmental pollution, which
are expected to drive the requirement for services to maintain these systems.
Therefore, such factors are expected to increase the market for facility
management in Saudi Arabia during the forecast period.
Awareness of Hygiene and
Cleanliness
Citizens of Saudi Arabia
are now becoming more aware of the cleanliness of their surroundings and
personal hygiene due to the COVID-19-induced pandemic. Due to this, cleaning
services in Saudi Arabia are expected to expand exponentially over the forecast
period, propelling both hard and soft services in the facility management
industry. Cleaning and disinfecting the surroundings, especially in commercial
spaces, has become the norm in the post-COVID-19 era. Other services, such as
toilet and washing facilities, and communal and eating areas, are expected to
meet the same cleanliness norms in the coming period. Additionally, the Saudi
Arabian government has made substantial contributions to the country's green
construction culture. Many Leaderships in Energy and Environmental Design
(LEED) certified green building projects had been filed in Saudi Arabia. The
LEED certification expressly calls for smart building solutions in the project
design, which may be accomplished quickly with the help of facility management
professionals. Therefore, such transformations will likely act as a catalyst in
developing the Saudi Arabia facility management market.
Technology Integration
As a result of growing technology breakthroughs, many
business organizations in Saudi Arabia are choosing automated building
management solutions, such as smart buildings. All the systems, such as
heating, lighting, ventilation, etc., are integrated and controlled from one
location. Hence, technology is gaining popularity in the country due to the
rising complexity of new buildings and their high data dependency for optimal
operation. Furthermore, surging demand for cloud-based IT services has been
aiding the growth of the Saudi Arabia integrated facility management market
during the forecast period. The advantages of cloud-based IT services include
reducing organizations' operating costs and improving the security of the
systems within and among the different verticals. Integrated facility
management is an IT-based financial management system that public firms,
private firms use, and government authorities to start, manage and monitor the
assets and finances of their organizations. The system modulates their expenses
and monitors their financial activities related to their services, products,
assets, and solution protocols.