The increasing application of facility management in residential construction projects, commercial buildings, industrial projects, and infrastructure projects are driving the growth of the Gulf Cooperation Council (GCC) facility management market. In 2017, the market generated a revenue of $40,210.5 million, and it is expected to witness a CAGR of 10.7% during the forecast period (2018–2023). Facility management services are professional services that cover multiple disciplines in a bid to attain proper functionality of a built environment with the integration of place, people, process, and technology.
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On the basis of service, the GCC facility management market is segmented into property services, cleaning services, security services, catering services, support services, environmental management services, and other services. Other services include reception staffing, utility management, furniture supplies, and contract management.
Property services is expected to be the largest category with an estimated contribution of more than 25.0% in the facility management market of GCC countries in 2017. Property services offer several benefits such as ensuring short vacancy cycles, rent collection, better tenant retention, assistance with taxes, and various others. Owing to such benefits, the demand for this service type is growing in GCC countries.
Some of the major players operating in the facility management industry are EMCOR Group Inc., Khidmah LLC, Interserve plc, Musanadah Facilities Management Co. Ltd., Emrill Services LLC., Cofely Besix Facility Management, Imdaad LLC, Farnek Services LLC, United Facilities Management, and Kharafi National.
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GCC FACILITY MANAGEMENT MARKET SEGMENTATION
- Environmental Management
By End User
- Saudi Arabia
- Rest of GCC (Oman and Bahrain)
This post was originally published on Analytics News