UAE Facility Management Market on a Prosperous Mode: Likely to Grow at a CAGR of 11.0% in the Forecast Period
Published | 30 October 2021
UAE facility management market is gaining significant traction because of the flourishing tourism sector in the country, along with the increasing construction activities in the country because of the increasing number of infrastructure development projects..
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the UAE facility management market was worth USD 14.4 billion in the year 2020. According to the study, the market is estimated to grow at the CAGR of 11.0%, earning revenue of around USD 29.8 billion by the end of 2027. UAE facility management market is flourishing at a high rate because of the growing expenditure towards construction activities and flourishing tourism in the country. Furthermore, the government initiatives towards economic diversification and development of commercial facilities such as shopping malls, offices, hotels, etc., significantly fueling the demand for facility management in UAE, driving the market growth.
Growing Adoption of IoT Is Anticipated Driving the UAE Facility Management Market
The introduction of IoT in facility management is providing lucrative growth opportunities to the UAE facility management market. The application of IoT can generate valuable data by tracking and monitoring multiple operations simultaneously and its sensors can provide insightful information that assist in improving business productivity. With the use of IoT in healthcare facility management, businesses can determine how much resources and energy are consumed and adjust it accordingly. The benefits of IoT are significantly driving the growth of the UAE facility management market.
Increasing Investment in Infrastructural Development
One of the major driving factors for the UAE facility management market is the growing expenditure on infrastructural development. The transportation sector is the most advanced sector driving the economy of the UAE. Also, the government is investing in the construction of the real estate, recreational facilities, hotels, and catering facilities in the country that require regular maintenance and management. Due to this, the demand for facility management is projected to grow in the UAE during the forecast period.
UAE Facility Management Market - By End-User
Based on end-users, the UAE facility management market is segmented into commercial & retail, manufacturing & industrial, government, infrastructure, & public entities, institutional, and others. Among these, the commercial and retail segment accounts for the largest market share in the UAE facility management market. Commercial spaces such as shopping malls, hotels, retail stores, and office buildings prominently demand facility management services. Furthermore, the growing demand for facility management in the real estate industry is another factor driving the growth of the market in the UAE. On the other hand, the government, infrastructure, and public entities also cover a substantial share in the market because of the increasing government expenditure and interest in managing public spaces.
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UAE Facility Management Market - Regional Insights
Geographically, the UAE facility management market is segmented into Abu Dhabi, Dubai, and others. Dubai dominated the UAE facility management market in 2020. However, Abu Dhabi also covers a substantial share in the market as this city has a flourishing tourism segment. In order to manage the tourist attractions and Arab architecture, facility management services are in high demand. Moreover, the oil export industry is strong in this region, which is another important factor powering market growth.
Impact of COVID-19 on UAE Facility Management Market
The UAE facility management market was initially negatively affected by the sudden outbreak of the COVID-19 pandemic. The obstruction in the construction activities and temporary ban on tourism limited the demand for facility management in UAE. As a result of the lockdown, commercial facilities such as shopping malls, hotels, etc., were also unable to operate, which led to a significant loss for facility management companies. Nevertheless, after the COVID-19 pandemic, the demand for sanitation and hygiene services at public spaces is expected to drive the UAE facility management market.
The leading players in the UAE facility management market are Emcor Facilities Services WLL, ENGIE Cofely Energy Services LLC, Imdaad LLC, Farnek Services LLC, Enova Facilities Management Services LLC, Etisalat Facilities Management LLC, Emrill Services LLC, Marafeq Facilities Management LLC, Deyaar Facilities Management LLC, ServeU LLC, and other prominent players.
The market is highly fragmented with increasing industry participants and is flourishing with major growth potential. The companies significantly focus on expanding their services to cover different industries to expand their revenue. They are also investing in the adoption of advanced technology such as cloud and IoT. Furthermore, the adoption of competitive strategies, such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the UAE facility management market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the UAE facility management market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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