The facility management services market in MEA was valued at more than $34 billion in 2015 and is expected to surpass $55 billion by 2020, says Technavio.
Technavio 0has announced its latest market research report on facility management services market for the forecast period, 2016-2020. This market analysis, under the automation vertical, discusses the major drivers and key emerging trends that will influence the growth of the facility management market during the forecast period. Some of the top vendors listed in this industry analysis include Emrill Integrated Facilities Management, Macro, Imdaad, Farnek, Saudi Oger, Reliance FM, and Etisalat Facilities Management.
In terms of geographical analysis, Saudi Arabia will account for the largest share of the market in MEA and is expected to surpass a revenue of $32 billion by 2020. During the forecast period, the market’s growth in the region will be driven by its rapid infrastructure and real estate activities.
“Vendors are increasingly adopting cutting-edge technologies to provide efficient, time- and cost-effective services to end users. Smart security surveillance systems, intelligent energy saving solutions, smart building management systems, and advanced robotics are some of the modern technology that are being used by vendors to improve their service offerings. Such advanced communication systems are enabling the optimization of information, level of operations upscale, and enhancement of services delivery to end-users,” says Bharath Kanniappan, a lead analyst at Technavio for automation.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Improved cost savings for businesses
Organizations are opting for FM services owing to the increased awareness about their overall benefits and savings of effective FM services. Client organizations are more inclined in streamlining their processes and facilities as it enables them to increase their profits. Facilities are required to function in an optimized manner so that it adds to the overall efficiency of the business process. With the increased focus on managing costs, client organizations are shifting their vision toward FM services as a competent resource for value addition rather than a mere service cost.
Risk mitigation through outsourcing services
The FM services market in the Middle East is currently undergoing significant development and growth. This market has a wider scope of growth compared with the already established and saturated markets of Europe and the Americas. The profusion of growth opportunities in the Middle East presents scope for market development for FM services. As the region is famous for its infrastructure and construction projects, it becomes vital for end-user industries to outsource their support processes to FM vendors that have the prerequisite skill and knowledge to handle such activities.
Building integrated systems for user industries
Organizations are realizing the importance of FM and the need for a holistic solution to ensure their facilities are functioning in a well-organized and safe manner. The overall system capability can be increased by functionally linking two or more like systems. A typical example can be connecting the fire alarm system with the HVAC system in a building facility for controlling smoke and regulating ventilation inside the facility along with building access control to enable easy and faster evacuation. Integrated FM services ensure a hassle free approach toward operating and maintaining building facilities. More organizations are expected to shift to an integrated method for managing their facilities over the next four years.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Facilities Management Market in MEA 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Facility Management Services Market in India 2016-2020
- Global Next-generation Building Energy Management Systems Market 2016-2020
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