NEW YORK, Jan. 02, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, U.A.E. facility management market is expected to witness a CAGR of 9.8% during 2019–2024. The growth of the facility management market is mainly driven by the expansion of the tourism industry and increase in investment in the construction sector. Facility management refers to professional services covering multiple disciplines, in a bid to ensure functionality of the built structures through the integration of people, place, process, and technology. In brief, these are support services provided to the companies, such as cleaning, security, catering, support services, and others.
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On the basis of service, the U.A.E. facility management market is segmented into property services, cleaning services, security services, catering services, support services, environment management services, and other services (including reception, staffing, utility management, furniture supplies, and contract management). Property services are further categorised into HVAC maintenance, mechanical and electrical maintenance, and others (including sales and leasing, maintaining properties, advertising rental properties, space planning and design, asset management).
Property services is expected to be largest category with an estimated contribution of more than 25.0% in the facility management market in 2018. Property services offer several benefits such as synchronization of different property related services, optimization of the efficiency of individual service components, and improvement in the management of properties. Owing to such benefits, the demand for property services is growing in the U.A.E. This in turn is driving the growth of the facility management market in the country.
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Commercial sector is the largest end user with an estimated contribution of more than 35.0% in the U.A.E. facility management market in 2018. The demand for facility management is growing in the commercial sector, owing to the increase in awareness among end users to optimize expenditure on commercial building management. During the forecast period, the facility management market will witness fastest growth in commercial uses.
In terms of mode of service, the facility management market is categorized into in-house and outsourced. Outsourced market is further categorised into integrated, bundled, and single. In-house is the larger category with an estimated contribution of more than 50.0% in the facility management market in 2018. The leading position of the in-house category is attributed to its long-standing presence, high adaptation rate, and comparatively low cost.
Based on type, the U.A.E. facility management market is categorised into hard services, soft services, and others (including catering services, vehicle fleet management, environmental management, space management, and utility management). Hard services is estimated to account for the largest share in the Saudi Arabian facility management market 2018.
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Some of the major players operating in the U.A.E. facility management industry are Emrill Services LLC, Imdaad LLC, Farnek Services LLC, Cofely Besix Facility Management, Al Shirawi Facilities Management LLC, Etisalat Facilities Management LLC, Transguard Group LLC, Blue Diamond Facilities Management LLC, Reliance Facilities Management, and Deyaar Development PJSC.
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Saudi Arabia Facility Management Market
Due to lack of in-house expertise and a need to focus on core competencies, the demand for outsourcing facility management services is increasing, which is creating ample opportunities for the growth of the facility management market in the country. Outsourcing provides a number of advantages considering the areas it can cover, starting from the cost of leased spaces, lifetime of plants and equipment, energy consumption, technical maintenance, and others; thereby boosting the demand of this mode of service.
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GCC Facility Management Market
The growth of the GCC facility management market is mainly driven by the increasing construction activities and growing tourism industry in GCC countries. Facility management refers to professional services covering multiple disciplines, in a bid to ensure functionality of the built structures through the integration of people, place, process, and technology.
https://www.psmarketresearch.com/market-analy...ent-market
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