The Saudi Arabian facility management market is on the rise and will grow at a rate of 11.2% to reach $87,248.7 million by 2030. The major reasons behind the growth of this industry are virtual reality, augmented reality, robots, and artificial intelligence.
Moreover, the continuous construction, with the growth of the tourism sector in Saudi is contributing in the growth of the industry.
Based on service, the cleaning services category was the fastest-growing category in recent years and is projected to continue its dominance in the coming years.
Furthermore, the increase in the requirement for cleaning services because the COVID-19 has spread awareness about general hygiene among people.
Due to this, companies are leaning more toward hiring experts for cleaning services at their facilities, which contributes to the growth of the market.
The business and corporate category had the largest share of the Saudi Arabian facility management market in recent years, and it is projected to continue its dominance in the years to come. This can be credited to the heavy investment in the business and strong government support.
The in-house category had the largest market share in the past. It was because of the growing dependence on in-house services, due to its long-run sustainability, mainly for asset management, security, and catering.
Browse detailed report – Saudi Arabia Facility Management Market Analysis and Demand Forecast Report
For example, in recent years, the Saudi government publicized strategies to invest around $426 billion by 2030 for the development of industries and infrastructure. Such reasons are projected to propel the revenue for facility management companies in the country in the coming years.
One of the major contributors to the country’s economy is the growing tourism industry. With significant growth in tourism, the requirement for facilities to maintain resorts, hotels, shopping complexes, catering, and many other services.
Hence, the rising awareness about general hygiene, expansion of the hospitality industry, and the government's future investment plans will drive the need for facility management services in the coming years.
