Artificial Intelligence
Qatar Facility Management Market is expected to generate ~$950 Mn by 2026F, owing to increasing infrastructural growth and technology: Ken Research
Gurugram, India, Jan. 20, 2023 (GLOBE NEWSWIRE) —
- Rapid real estate development in terms of smart city development, new infrastructure developments, and focus on tourism and hospitality promotion are the supporting factor for commercial facility management services revenue.
- Residential units would be a major booming segment to focus on due to the rising younger population, ex-pats, and government-sponsored affordable housing programs to the poor population.
- The next 5 years would witness the entry of many new companies in the industry especially real estate developers and international players with more advanced technology assisted service delivery.
Technological Advancement: Technologies such as IOT, Artificial intelligence, building information modeling (BIM), cloud computing, biometric systems and motion detection are being implemented at service locations. Focus on indoor thermal comfort by improving air movement mechanisms in air conditioned and naturally ventilated buildings, which leads to increased productivity at workplaces.
Sustainability: There has been an increase in the awareness for green buildings and environmental services resulting from strong support from the regulatory bodies. Keeping in mind environmental issues, comfort and rising labor costs, assets are gradually becoming “smart”, enabling various components to interact with each other, in order to achieve the desired output.
Qatar Vision 2030: In addition to transport projects, the government aims to rapidly expand tourism, education, and real estate, facility management market would experience considerable growth. Some of the major construction projects underway in this regard are Sheraton Park, Western Green Spine in Doha, Sidra Medical Research Centre, and Education City.
FIFA 2022: The country will host the 2022 FIFA World Cup, which is another key factor propelling construction and infrastructure development activities in Qatar. Personnel requirements for housekeeping, cleaning and other soft services are expected to increase with a greater number of people visiting the country for the event.
Analysts at Ken Research in their latest publication “Qatar Facility Management Market Outlook to 2026F– Driven By Rising End-Users Awareness, Improving Technology and Government’s Strong Initiatives regarding Infrastructure” by Ken Research observed that Facility Management Market Outlook in Qatar is a growing market owing to increasing trend towards adopting sustainable practices. The rising Facility Management consciousness among the population and business owners, along with increasing infrastructural growth and technology, expansion of their operation, implementation of favourable government rules & regulations is expected to contribute to the market growth over the forecast period. The market is expected to grow at a 10.7% CAGR during 2021-2026F owing to increasing infrastructural growth and technology adoption.
Key Segments Covered:-
Qatar Facility Management
By Types of Services
- Hard Services
- Soft services
By Hard Services
- Electromechanical Services (including HVAC)
- Operations and Maintenance Services
- Fire Safety and Security Systems
By Soft Services
- Housekeeping (including Cleaning)
- Security
- Landscaping
- Others
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By Integrated Facility Services, Bundled Services and Single Services
- Bundled services
- Single services
- Integrated facility management (IFM)
By End User Sectors
- Commercial (Includes Offices, retail, infrastructural)
- Industrial
- Residential
By Personnel
- In-House Personnel
- Outsourced Personnel
Key Target Audience:-
- Real Estate Companies
- Hospitality Sector
- Individual Facility Users
- Business Owners
- Government
- Facility Management Associations
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Time Period Captured in the Report:-
- Historical Year: 2016-2021
- Base Year: 2021
- Forecast Period: 2022– 2026F
Companies Covered:-
- Emco Qatar
- Facilities Management & Maintenance Company, L.L.C.
- Mosanada Facilities Management Services
- ENGIE Cofely Mannai
- Al Asmakh Facilities Management
Key Topics Covered in the Report:-
- Qatar Real Estate Market Overview, 2021
- Qatar Facility Management Market Ecosystem
- Business Cycle and Genesis of Qatar Facility Management Market
- Value Chain of Qatar Facility Management Market
- Business Acquisition Process in Qatar Facility Management Market
- Market Sizing Analysis of Qatar Facility Management Market, 2016-2021
- Key Market Segmentations, 2021 (By Types of Services, By Single, Bundle and Integrated Services 2026F, By Types of Soft Services, By Types of Hard Services, By End-Users Sector and By Personnel Type Services)
- SWOT Analysis of Qatar Facility Management Market
- Key Growth Drivers in Facility Management Market in Qatar
- Trends and Developments in Qatar Facility Management Market
- Major Challenges Faced by the Qatar Facility Management Market
- Qatar Facility Management Market Major Technological Trends, 2021
- Competition Scenario in Qatar Facility Management Market
- Cross Comparison of Major Players in Qatar Facility Management Market
- Future Outlook of Qatar Facility Management Market, 2021-2026F
- Future Outlook of Market Segmentations, 2026F (By Types of Services, By Single, Bundle and Integrated Services 2026F, By Types of Soft Services, By Types of Hard Services, By End-Users Sector and By Personnel Type Services)
- Analyst Recommendations
For more insights on the market intelligence, refer to below link:-
Qatar Facility Management Market
Related Reports By Ken Research:-
Egypt Facility Management Market Outlook to 2026F- Driven By Rising End-Users Awareness, Improving Technology and Government’s Strong Initiatives regarding Infrastructure
Egypt’s Real Estate Market is one of the biggest and fastest-growing markets due to government support initiatives and the rising younger population. The construction sector is a major contributor to the GDP of the country, the high growth rate of construction further boosted the demand for services Egypt Facility Management market is at the growing stage with huge profitability potential marked by the presence of 50+ Facility Management Service providers and increasing. The Market has experienced a robust growth rate over the period 2020-2021, with a sudden rise in 2021 due to COVID-19. Demand for facility management services was driven by commercial and real estate expansion, rising awareness among the clients regarding the importance of maintenance services for sustainable buildings. The market continues to be attractive because of higher competition, leading to greater scrutiny of contracts, contract renewals and customized contracts.
Kuwait Facility Management Market has experienced an irregular growth rate over the period 2018-2021, with a sudden decline in 2020 due to COVID-19 and certain regulations imposed by the Government of Kuwait that interfered in the normal functioning of the industry. The Kuwait Facility Management Market experienced growth in 2021 due to an increase in demand for the services by the commercial sector. Factors such as cost-effectiveness, Technological advancement and Increased Public Spending on infrastructure and Sustainability driving the overall Facility Management Market in Kuwait.
Saudi Arabia’s Real Estate Market is one of the biggest and fastest-growing markets due to government support initiatives and rising younger population. The Capital city of Riyadh has the highest existing and upcoming stock of office and residential space in the country. KSA Facility Management market is at the growing stage with huge profitability potential marked with the presence of 50+ Facility Management Service providers and increasing. The Market has experienced a robust growth rate over the period 2020-2021, with a sudden rise in 2021 due to COVID-19 and certain regulations imposed by the Government of KSA that interfered with the normal functioning of the industry. Demand for facility management services was driven by commercial and real estate expansion, rising awareness among the clients regarding importance of maintenance services for sustainable buildings. The market continues to be attractive because higher competition, leading to greater scrutiny of contracts, contract renewals and customized contracts.
In future, it is anticipated that Vietnam facility management industry revenue will increase at a positive CAGR during the period 2018 – 2023E. In Vietnam, it is expected that the demand for both soft and hard services will be augmented largely due to growth in the Government outsourcing through Public Private Partnerships (PPP) and Build operate transfer (BOT). Increasing demand from multinational clients is likely to drive future demand for Integrated Facility Management (IFM) services in Vietnam with industrial expansion, commercial office buildings and infrastructure sector being the future penetration sectors for IFM services. The growth in residential, retail, commercial, industrial and infrastructure sectors’ spending will further increase the demand of FM services.
In future, it is anticipated that Australia facility management market in terms of revenue will increase at a positive CAGR during the period FY’2018 – FY’2023. In Australia, it is expected that the demand for both soft and hard services will be further augmented largely due to growth in the Government outsourcing through Public Private Partnerships (PPP). Moreover, increasing demand from multinational clients is likely to drive future demand for Integrated Facility Management (IFM) services in Australia with commercial office buildings and infrastructure sector being the future penetration sectors for IFM services. The growth in supply/ new projects pipeline in Residential, retail, commercial and infrastructure sectors in the country will further increase the demand of FM services.
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Ankur Gupta, Director Strategy and Growth
Ankur@kenresearch.com
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