Artificial Intelligence
The Saudi Arabian facility management market was valued at USD 7,031.80 million in 2019, and it is expected to reach USD 10,118.31 million by 2025, registering a CAGR of 9.24% during 2020-2025
New York, June 15, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Saudi Arabia Facility Management Market – Growth, Trends, Forecasts (2020 – 2025)” – https://www.reportlinker.com/p05999348/?utm_source=GNW
With the rising infrastructure development projects across the Kingdom of Saudi Arabia, contributing to its economic growth, facility management services are also required to a considerable extent.
– According to an industry insider analysis, in H1 2019, Saudi Arabia’s residential market prices appeared to have remained under significant pressure while transaction volumes surged significantly across critical regions, indicating that the residential market was heading toward the bottom of its cycle. With the rising urban population and a mismatch in the housing stock provision to low and middle-income group buyers, housing affordability in the country is a rising challenge.
– However, the Sakani scheme was initiated to tackle the affordability challenge and drives significant construction activity in the market. The Kingdom of Saudi Arabia’s Ministry of Housing planned that more than 32,285 families would benefit from the options provided by its ‘Sakani’ scheme in January 2020. The scheme was an effort taken by the government to expand the mortgage sector to ease the pressure on this area. Through these government initiatives, the rising affordability is anticipated to boost the construction sector, creating opportunities for the country’s FM market.
– According to the Middle East Facility Management Association (MEFMA), in 2020, the region expects to observe the use of more smart tools due to their numerous benefits. Presently, as per the latest statistics provided by the World Economic Forum, more than 70% of industrial enterprises are in ‘pilot purgatory’ when adopting Industry 4.0 technologies. Only 29% of players actively deploy Industry 4.0 technology at scale, and only 30% have yet to test this technology. MEFMA, the professional facility management (FM) platform, is confident that the use of cutting-edge technologies within the FM players will accelerate in 2020 and beyond.
– The COVID-19 pandemic has further sped up the adoption of cloud and emerging technology. Countries have dedicated significant resources to expanding the role of small and medium-sized enterprises (SMEs) in the economy. Furthermore, small businesses in Saudi were provided with a USD 13 billion financial aid to weather the crisis. These also indicate the country’s compliance with Vision 2030’s goal of increasing SMEs’ contribution to GDP to 35%.
– As a part of Saudi Arabia’s Vision 2030 strategy, the country aims to digitalize and develop AI. In August 2019, the Saudi Data and Artificial Intelligence Authority (SDAIA) was set up by a Royal Decree. The organization is intended to oversee the National Center for Artificial Intelligence, the National Data Management Office, and the National Information Center. As of August 2020, Saudi Arabia’s AI strategy was also approved by King Salman Bin Abdulaziz. The move is expected to contribute an estimated SAR 500 Billion (approximately USD 133 Billion) to the country’s GDP by 2030.
Key Market Trends
Construction Boom Due to the Growing Clout of Multinational Conglomerates is Expected to Grow the Market
– The Saudi Arabian construction industry benefits from private and public sector players’ increased focus on reforms, and it supports the country’s Vision 2030. Under this long-term vision, the government planned several economic, educational, and related reforms intending to innovate and diversify Saudi Arabia’s landscape.
– With continuing investment and technological enhancements, Saudi Arabia is investing in diverse projects. Saudi plans to invest approximately USD 1 trillion in its non-hydrocarbon sector by 2035. Some of the key projects include Qiddiya Entertainment City, King Abdullah Financial District, Neom, the Red Sea Project, and Amaala, to name a few.
– Multinational players are also expanding their footprint in the country, further boosting its construction sector up to a certain extent. For instance, recently, DuPont Water Solutions, a part of the DuPont Safety and Construction business, opened its new RO production line in Saudi Arabia. The facility is located in Jubail Industrial City II, and it will develop membrane technology at the Sadara Chemical Company complex, a joint venture formed by Saudi Aramco and Dow.
– Furthermore, in the past, Servcorp, a provider of workspace solutions, including virtual offices, serviced offices, and co-working spaces, planned to expand its presence in the Middle East as part of an aggressive growth plan for the EMEA region. The company was scheduled to open a range of premium locations across Saudi Arabia, Kuwait, Egypt, and Turkey.
– The increasing business opportunities in the country have also created possibilities for developing transportation projects. For example, the Riyadh Metro, a rapid transit system under construction in Riyadh, is a part of the Riyadh Public Transport Project, one of the major public transport projects.
Outsourced Facility Management is Expected to Grow Significantly
– As facility management accounts for a significant amount of a company’s expenses, outsourcing this to a third-party certified vendor has been a way to optimize these costs by end-users. Use cases also suggest an optimized cost on FM, owing to outsourcing, thereby, generating a positive impact on the company’s income.
– Outsourced FM services are delivered in the following ways: single, bundled, and integrated FM services. While single service contracts include the outsourcing of a single function (either hard or soft service spheres), bundled service contracts involve the outsourcing of multiple services falling within either of the hard or soft service spheres. On the other hand, integrated service contracts include outsourcing of services (at least two) from distinct service spheres.
– While manufacturing companies face tricky macroeconomic headwinds, many of the manufacturers have been making progress with smart factory initiatives in the region. In January 2019, the government of Saudi Arabia unveiled an infrastructure plan to attract SAR 1.6 trillion in investments. The core focus of the event was on the Industrial Development and Logistics program.
– The increasing construction activities in the region are anticipated to generate demand for facility management, such as HVAC equipment and plumbing and maintenance services. Construction businesses, particularly in the Middle East & Africa (MEA), are expected to develop at the rapid rate, which is expected to create a considerable influx of investments in infrastructure and building structures in Saudi Arabia.?
– Saudi Arabia has more than USD 1.15 trillion work of future projects in the pipeline, making it by far the largest market of all the GCC states.? The Saudi Arabia Vision 2030 aims at investing in mega-projects that will transform the economy. For instance, one the largest projects is the USD 500 billion Neom giga project, which involves the creation of a new city in the northwest of the country.
– Moreover, in Jan 2020, Saudi Arabia’s Ministry of Finance signed an agreement with the National Project Management, Operation, and Maintenance Organization in Public Entities (Mashroat), in order to improve its assets and facility management. Under the agreement, Mashroat will provide the ministry with consultancy services and technical support. Mashroat will also evaluate the ministry’s assets and train employees in international best practices, including computerized systems of facility management.
Competitive Landscape
The Saudi Arabian FM market comprises both local and international players possessing significant years of industry experience. The FM companies are incorporating technologies into their services, which are adding strength to their service portfolio. For instance, Enova has introduced digital tools for its ‘Kinan’ project, which has positioned it as a significant player in the technology landscape. Moreover, recently, a significant number of joint ventures/acquisitions were made in the wake of rising large-scale projects. Therefore, the intensity of competitive rivalry is high.
– September 2020 – Khidmah Training Centre upskilled over 2,500 staff in the First Year of Operations. The training was conducted by the company’s dedicated Khidmah Training Centre, launched in September 2019. More than 15,000 training hours were delivered across multiple hard and soft facility management services. The Khidmah Training Centre is led by certified trainers who deliver training courses and certifications to Khidmah staff, including The British Institute of Cleaning Science certification (BICSc).
– March 2020 – Saudi Arabia’s Energy City Development Company (ECDC), the owner and developer of the 50km2 King Salman Energy Park (SPARK), sought after an agreement for ENGIE Cofely to offer facilities management advisory and training for SPARK. In addition to facilities management, ENGIE is also expected to establish the internal governance framework for the city and implement a training structure on facilities management for ECDC’s employees to ensure future continuity and progress.
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BOSTON, April 18, 2024 /PRNewswire/ — The RepTrak™ Company, the world’s leading reputation data and insights company, released its annual Global RepTrak 100 report. Utilizing its advanced reputation monitoring software, RepTrak gathered data from more than 243,000 survey responses across 14 major economies to rank the world’s 100 most reputable companies. They share that ranking alongside a full analysis of global corporate reputation trends and corresponding public sentiment in the 2024 report.
After two years of consecutive Reputation Score declines, this year’s Score is back up with an increase from 73.2 in 2023 to 73.8 in 2024. It’s a small increase after 2023’s full one-point drop. However, it’s an encouraging sign that companies have begun to recover from reputation falls driven by many challenges: macroeconomic issues, workplace difficulties, product problems, and corporate responsibility skepticism.
“This year’s report underscores a pivotal shift in the corporate landscape, spotlighting the remarkable adaptability and dedication of the Top 100 companies in responding to the dynamic needs of stakeholders,” states RepTrak CEO Mark Sonders. “The companies featured in our report are not just riding the wave of change; they are the ones steering it, proving that the best approach to business is one that embraces evolution and champions progress.”
RepTrak’s report explores how people thought, felt, and acted toward companies over the past year. Findings include notable increases in Conduct and Citizenship efforts, stakeholders’ rising willingness to invest, culturally resonant brand communications, and ESG Scores that soared despite skepticism around the acronym.
To read the full 2024 Global RepTrak 100 report, please visit: www.reptrak.com/globalreptrak
About RepTrak
The RepTrak™ Company is the world’s leading reputation data and insights company. We help companies by organizing and grading a variety of reputational elements, offering a real-world report card on their corporate reputation. Subscribers to the RepTrak program use our predictive insights to protect business value, improve return on investment, and increase their positive impact on society. RepTrak’s pairing of advanced metrics and dedicated reputation advisors offers clients an actionable analysis of their reputation data, aligning business objectives with stakeholder sentiment across different markets and sectors.
Established in 2004, The RepTrak Company owns the world’s largest reputation benchmarking database, gathering over 1 million company ratings per year used by CEOs, boards, and executives in more than 60 countries worldwide. For more information, please visit: www.reptrak.com
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Artificial Intelligence
Group-IB takes part in a global operation to cripple Canadian Phishing-as-a-Service provider LabHost
SINGAPORE, April 18, 2024 /PRNewswire/ — Group-IB, a leading cybersecurity company aimed at investigating, preventing, and fight digital crime announced today that it participated in a coordinated global takedown operation against prominent Canadian Phishing-as-a-Service (PhaaS) provider LabHost, which has led to the arrest of 37 suspects across the United Kingdom and around the world by law enforcement agencies. As part of the operation, Group-IB also conducted an extensive analysis of LabHost’s criminal history and infrastructure, including insights into LabHost’s administrative platform and the services it provides to its purported user base which exceeds 2,000 subscribers worldwide, who illegally obtained around 480,000 card numbers, 64,000 pin numbers, and over 1 million passwords from victims used for websites and other online services, according to law enforcement agencies.
“By leveraging our Threat Intelligence and Digital Risk Protection, we are able to identify and monitor phishing attacks and websites like those deployed by LabHost and its subscribers around the world, enabling us to actively alert and protect our customers, and in turn, their customers as well,” said Dmitry Volkov, Chief Executive Officer of Group-IB. “Today’s takedown operation demonstrates the agility and responsiveness of our decentralized Digital Crime Resistance Centers, and how quickly we can provide immediate and local assistance wherever our customers may be.”
First uncovered in late 2021, LabHost emerged as a fully automated Phishing-as-a-Service (PhaaS) platform, streamlining the creation of phishing websites meticulously mirroring the interface and functionality of prominent banking, postal, and financial entities, aimed at intercepting, seizing, and profiting from users’ personal, credit card, and online banking credentials. Users are prompted to select from various “membership plans,” tailored to target businesses and individuals in either the United States and Canada, or globally, akin to mobile subscription models. These plans encompass “standard,” “premium,” and “world membership” tiers, priced between US$179 and US$300 monthly, with options for monthly, quarterly, or annual billing cycles.
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Artificial Intelligence
Malaysia Data Center Market to Witness $3.97 Billion Investment Opportunities by 2029, Get Insights on 34 Existing Data Centers and 33 Upcoming Facilities across Malaysia – Arizton
CHICAGO, April 18, 2024 /PRNewswire/ — According to Arizton’s latest research report, the Malaysia data center market is growing at a CAGR of 13.92% during the forecast period.
To Know More, Download the Free Sample Report: https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Malaysia Data Center Market Report Scope
Report Attributes
Details
Market Size (Investment)
USD 3.97 Billion (2029)
Market Size (Area)
883 Thousand Sq. Feet (2029)
Market Size (Power Capacity)
163 MW (2029)
CAGR Investment (2023-2029)
13.92 %
Colocation Market Size (Revenue)
USD 1.23 Billion (2029)
Historic Year
2020-2022
Base Year
2023
Forecast Year
2024-2029
Over the next few years, Malaysia is poised to witness significant growth in data center investments, driven by the influx of operators like AirTrunk, Equinix, Princeton Digital Group, and other leading companies. Key hubs like Cyberjaya, Kuala Lumpur, and Johor Bahru are expected to see heightened activity, hosting most of the country’s data centers.
The wholesale colocation sector is projected to experience a revenue surge fueled by major cloud players like Microsoft, Google, and AWS. These companies have unveiled plans to establish dedicated cloud regions within Malaysia, with expected timelines for deployment within the next one to two years. This trend underscores Malaysia’s growing importance as a regional hub for data infrastructure and cloud services.
Malaysia is among the top expensive markets globally for developing data centers. Malaysia’s data center construction cost in 2023 stood at about $8.5-$10 million per MW, making it the costliest market in the APAC region after Singapore and Jakarta.
Investment Opportunities in the Malaysia Data Center Market
In November 2023, ST Telemedia Global Data Centres announced its plans to develop a new data center campus in Johor. The construction of the first building is likely to begin soon and become operational by 2025. The company formed a joint venture with Basis Bay to develop a new data center campus with two buildings, Cyberjaya DC.2 and STT Kuala Lumpur 1 in Cyberjaya, Selangor.In October 2023, EDGNEX Data Centres by DAMAC announced its plans to enter the APAC market for the first time; the company is considering a facility in Cyberjaya, Selangor. The expected investment can cross the $52 million mark.In October 2023, Infinaxis Data Centre Holdings, the joint venture between Gaw Capital Partners and A3 Capital, announced the construction of its first data center facility in Cyberjaya. The facility will have 10 data halls and will likely be operational by Q2 2025.In September 2023, EdgeConneX announced its plans to expand its footprint in Malaysia with the development of three data centers sites across Bukit Jalil, Kuala Lumpur, and Cyberjaya. The company plans to develop data centers in partnership with Cyberview.To Know More, Download the Free Sample Report: https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Market Trends
According to IRENA, in 2022, hydroenergy accounted for around 69% of the renewable energy capacity in Malaysia, followed by solar energy, which contributed about 21%, along with a 10% contribution by bioenergy.Malaysia aims to achieve the target of net-zero carbon emissions by 2050. To make this goal a reality, WWF-Malaysia is partnering with Boston Consulting Group to develop an independent joint study on the country’s optimal net zero pathway.The government of Malaysia has established a green tariff scheme to support its carbon-neutrality target. Under the scheme, subscribers can get electricity from solar or hydro sources instead of fossil fuel sources.Mergers, acquisitions, joint ventures, and partnerships are key strategies employed by operators to expand their portfolios and global footprint. For example:
In December 2023, Chindata Group merged with BCPE Chivalry Merger Sub, a wholly owned subsidiary of BCPE Chivalry Bidco, completing its transition to a private company from a public one.November 2023 saw ST Telemedia Global Data Centres, in a joint venture with Basis Bay, announcing plans to develop a new data center campus with two buildings in Cyberjaya, Selangor.A3 Capital and Gaw Capital Partners formed a joint venture in February 2023 to establish Infinaxis Data Centre Holdings to develop and operate data centers across Malaysia and Southeast Asia.MN Holdings, an engineering services and solutions company, signed a Memorandum of Understanding (MoU) in April 2023 with Shanghai DC-Science, outlining an investment of approximately $600 million to develop a data center site at the Sedenak Tech Park, Johor.Why Should You Buy This Research?
Market size is available regarding investment, area, power capacity, and Malaysia colocation market revenue.An assessment of the data center investment in Malaysia by colocation, hyperscale, and enterprise operators.Investments in the area (square feet) and power capacity (MW) across cities in the country.A detailed study of the existing Malaysia data center market landscape, an in-depth market analysis, and insightful predictions about market size during the forecast period.Snapshot of existing and upcoming third-party data center facilities in MalaysiaFacilities Covered (Existing): 34Facilities Identified (Upcoming): 33Coverage: 9 LocationsExisting vs. Upcoming (Area)Existing vs. Upcoming (IT Load Capacity)Data Center Colocation Market in MalaysiaColocation Market Revenue & Forecast (2023-2029)Wholesale vs. Retail Colocation Revenue (2023-2029)Retail Colocation PricingWholesale Colocation PricingThe Malaysia data center market investments are classified into IT, power, cooling, and general construction services with sizing and forecast.A comprehensive analysis of the latest trends, growth rate, potential opportunities, growth restraints, and prospects for the industry.Business overview and product offerings of prominent IT infrastructure providers, construction contractors, support infrastructure providers, and investors operating in the industry.A transparent research methodology and the analysis of the demand and supply aspects of the industry.Buy this Research @ https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Post-Purchase Benefit
1hr of free analyst discussion10% off on customizationThe Report Includes the Investment in the Following Areas:
IT InfrastructureServersStorage SystemsNetwork InfrastructureElectrical InfrastructureUPS SystemsGeneratorsSwitches & SwitchgearsPDUsOther Electrical InfrastructureMechanical InfrastructureCooling SystemsRack CabinetsOther Mechanical InfrastructureCooling SystemsCRAC and CRAHChillersCooling Tower and Dry CoolersOther Cooling UnitsGeneral ConstructionCore & Shell DevelopmentInstallation & Commissioning ServicesBuilding & Engineering DesignFire Detection & Suppression SystemsPhysical SecurityData Center Infrastructure Management (DCIM)Tier StandardTier I & Tier IITier IIITier IV GeographySelangorJohorOther StatesVendor Landscape
IT Infrastructure Providers
Cisco SystemsDell TechnologiesFujitsuHewlett Packard EnterpriseHuawei TechnologiesIBMInspurLenovoNetAppData Center Construction Contractors & Sub-Contractors
Advance Power EngineeringAsima ArchitectsAVO TechnologyB-Global TechCTC-GlobalCSF GroupCyclect GroupDSCO GroupGamudaGCM TechnologiesHSS EngineersISGKienta Engineering ConstructionLSK EngineeringMES GroupM+W Group (Exyte)MN HoldingsNakanoNTT FACILITIESPowerware SystemsS5 EngineeringShaw ArchitectSunway Construction GroupUnique CentralSupport Infrastructure Providers
ABBCaterpillarCumminsEatonFuji ElectricHITEC Power ProtectionKOHLER PowerLegrandMitsubishi ElectricNarada Power SourcePiller Power SystemsRittalRolls-RoyceSchneider ElectricSiemensSocomecSTULZTraneVertivData Center Investors
Bridge Data CentresEdge CentresGDS ServicesIRIX (PP TELECOMMUNICATION)Keppel Data CentresNTT DATAOpen DCTM OneVantage Data CentersYTL Data Center HoldingsNew Entrants
AirTrunkAmazon Web Services (AWS)EdgeConneXEquinixFutureData (Cyclect Group + TSG Group)Googlei-BerhadInfinaxis Data Centre HoldingsMN Holdings + Shanghai DC-ScienceMicrosoftNEXTDCPrinceton Digital GroupRegal OrionSingtelST Telemedia Global Data CentresYondrTo Know More, Download the Free Sample Report: https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Key Questions Answered in the Report:
What factors are driving the Malaysian data center industry?
How big is the Malaysia data center market?
How many MW of power capacity will be added across Malaysia during 2024 to 2029?
What is the growth rate of the Malaysia data center market?
Which states are included in the Malaysia data center market report?
Get the Detailed TOC @ https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
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