Saudi Arabia Facility Management Market
Report ID: SQMIC20I2266
Saudi Arabia Facility Management Market Size
SkyQuest Technology's Saudi arabia facility management market size, share and forecast Report is based on the analysis of market data and Industry trends impacting the global Saudi Arabia Facility Management Market and the revenue of top companies operating in it. Market Size Data and Statistics are based on the comprehensive research by our Team of Analysts and Industry experts.
Saudi Arabia Facility Management Market Insights
Saudi Arabia Facility Management Market size was valued at USD 27.8 billion in 2023 and is poised to grow from USD 30.69 billion in 2024 to USD 67.73 billion by 2032, growing at a CAGR of 10.4% during the forecast period (2025-2032).
The GCC countries have taken significant steps to revitalize their economies and reduce their dependence on oil revenues by promoting industry localization. This move is driven by economic challenges stemming from depleting hydrocarbon reserves, technological obsolescence, and oil price volatility since the late 1990s. To counter these issues, the GCC nations have initiated strategies to cultivate private sectors that will not only generate employment opportunities but also foster economic growth, particularly in Saudi Arabia's facility management sector.
The Saudi 2030 Vision holds a pivotal role in propelling economic progress within the GCC region. This transformative approach is expected to open up abundant market prospects across sectors like construction, automotive, and heavy engineering, thereby amplifying the demand for facility management services. The Vision 2030 program seeks to diversify the country's economy away from oil dependency by harnessing public-private partnerships (PPPs) to enhance transportation, education, healthcare, and energy management infrastructure.
The deployment of PPP projects is poised to enhance accessibility and services, benefiting the Saudi Arabian facility management industry. Additionally, this privatization drive is set to attract substantial investments, fortifying the nation's infrastructure growth and rapidly advancing the facilities management market.
Notably, facility management service providers are incorporating energy management services into their offerings to address rising energy costs and building energy consumption concerns. Consequently, consumers are increasingly adopting these services, bolstering the growth of the facilities management market in the Kingdom.
Saudi Arabia Facility Management Market is poised to grow at a sustainable CAGR for the next forecast year.
Saudi Arabia Facility Management Market Report Snapshots
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