The U.A.E facility management market is predicted to grow at 9.69% CAGR during the forecast period with the market size reaching USD 24.4 billion by 2024. The market is driven by factors such as the expanding investment in the construction sector, and enlargement the of the tourism industry.
The mounting need for outsourced facility management services, expanding disposable income, mounting tourism industry, rapid urbanization, growing connectivity technology and need of connected facilities, and mounting development of cloud-based solution in the country is further fueling the growth of the U.A.E. facility management market.
The market for facility management in U.A.E is primarily driven by mounting infrastructure-based development such as commercial buildings, infrastructure projects, residential construction projects, and industrial projects and mounting real estate and infrastructure investment. Moreover, the on-going preparations for Expo 202 Dubai would result, the need for hospitality services and infrastructure in order to provide accommodation resource for participants and guests from various countries.
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The U.A.E. government is functioning intensely to improve and construct some main attractions in the country. Some of the major projects are Bluewaters Island, Dubai Theme Parks, Dubai Creek Harbor, Dubai Water Canal, and others. Majority of these attractions are expected to be completed afore 2020 when the country will present Dubai Expo. Thus, these upcoming mega projects and events are creating a demand for these services.
In addition, booming Internet of Things (IoT) market, developing emphasis towards green buildings, the mounting difficulty in technology such as smart energy management and building automation further emergent the necessity of facility management services. This offers market players immense opportunities for facility management in U.A.E, which will drive their revenue growth.
Among all services, property segment holds the largest share in the U.A.E. facility management market due to its advantages such as minimal maintenance and repair price, reduced occupant turnover, support with taxes, rent collection, and small vacancy cycles. The catering segment is witnessing the highest growth in the market, owing to mounting tourism and hospitality industry. The property segment is further subdivided into heating, ventilation, and air conditioning (HVAC) maintenance, mechanical and electrical maintenance, and others.
The different end users of, the facility management market are commercial, industrial, and residential. Of all these end users, the commercial category is predicted to witness the highest CAGR of 10.2% during the forecast period owing to escalating alertness among end users for commercial building maintenance to minimize expenditure.
Among all modes, the in-house segment accounted for the larger share in the facility management market in U.A.E, due to elevated acceptance rate, long-standing existence, and comparatively low price. In addition, owing to progressively stringent rules and guideline from Health, Safety, and Environmental (HSE) regulatory bodies, a mounting number of companies are confronting complications in fulfilling with the regulatory norms, so the companies are outsourcing their regulatory agreement responsibilities to facility management service providers in U.A.E.
The different type of facility management market is hard, soft and others. The hard category accounted for the largest share in the U.A.E. facility management market due to the high cost. Moreover, the hard category requires expert knowledge and technical assistance.
Key players in the facility management industry are investing in the development of advanced, which is strengthening their position in the market. Emrill Services LLC, Etisalat Facilities Management LLC, Deyaar Development PJSC, Imdaad LLC, Transguard Group LLC, Cofely Besix Facility Management, EFS Facilities Management Services, Enova Facility Management Services LLC, Reliance Facilities Management, Al Shirawi Facilities Management LLC, Farnek Services LLC, and Blue Diamond Facilities Management LLC are some of the key players offering facility management in U.A.E.
U.A.E Facility Management Market Coverage
Service Insight and Forecast 2014-2024
End User Insight and Forecast 2014-2024
Mode Insight and Forecast 2014-2024
Type Insight and Forecast 2014-2024
Facility Management Market by City