Facility Management Services Market in Middle East 2019-2023 | Growth Analysis and Forecast | Technavio
LONDON--(BUSINESS WIRE)--Nov 23, 2018--According to the research report on the facility management services market in the Middle East by , the market will post a CAGR of more than 11% during the period 2019-2023.
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Technavio has released a new market research report on the facility management services market in the Middle East for the period 2019-2023. (Graphic: Business Wire)
A key driver for the facility management services market in the Middle East is the rapid growth in commercial construction. Since 2017, there has been a rapid increase in the construction of commercial infrastructure in sectors such as transport, hospitality, entertainment, and healthcare in the Middle East. The steady implementation of construction projects in 2018 as a part of the strategic vision of the key countries in the Middle East will drive the construction activity in the region.
This research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the incorporation of waste management as a key service in facility management as one of the key trends in the facility management services market in the Middle East:
Facility management services market in the Middle East: Incorporation of waste management as a key service in facility management
Owing to the increased emphasis on waste reduction initiatives in the Middle East, many facility management vendors are incorporating waste management as a core function. Numerous facility management vendors are developing long-term frameworks for waste management due to the limited sustainability of current industrial waste management practices in countries such as the UAE and Saudi Arabia and the high potential for improvement in waste management practices.
“Vendors such as Cofely Besix and Farnek provide waste management as part of their core service offerings. The governments in many Middle Eastern countries are expected to impose stringent regulations to monitor waste disposal. For instance, in 2017, the Dubai Municipality imposed tipping fees for general waste disposed by residential and commercial buildings within the city. During the forecast period, waste management as a service module is expected to be increasingly adopted by facility management service vendors,” says a senior analyst at Technavio for research on automation.
Facility management services market in the Middle East: Segmentation analysis
This facility management services market analysis report segments the market in the Middle East by service (soft service and hard service) and regions (Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, and Oman).
The soft service segment held the largest facility management services market share in 2018, accounting for over 67% of the market. This segment is expected to dominate the global market throughout the forecast period.
Saudi Arabia led the market in 2018 with more than 53% of the market share, followed by the UAE and Qatar respectively. Saudi Arabia is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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View source version on businesswire.com:https://www.businesswire.com/news/home/20181123005183/en/
CONTACT: Technavio Research
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KEYWORD: MIDDLE EAST
INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 11/23/2018 10:36 AM/DISC: 11/23/2018 10:35 AM