Effective and efficient delivery of logistical and other property support services is the aim of facilities management, or FM. It relates to the management of projects, human resources, operations, communications, security, etc. to ensure that an environment is functional and appropriate for living or working. The grounds, infrastructure, real estate, and buildings are all included in this definition of "environment". Based on the type of work they provide, FM services can be divided into two smaller groups. The hard services and soft services sub-segments are separated. Physical assets and technical services are examples of hard services, while daily duties performed by others are considered soft services.
According to SPER market research, ‘UAE Facility Management Market Size- By Service, By Type, By End User - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the UAE Facility Management Market is predicted to reach USD 13.77 billion by 2033 with a CAGR of 6.94%.
Drivers:
One major factor driving the growth of the UAE market is the growing usage of cloud-based facilities management. The advent of SaaS platforms, enhanced virtual accessibility, and sophisticated security that permit remote management of labor and material components all contribute to cost savings. SaaS solutions include real-time collaboration, scalability, disaster recovery, and ease of accessing. Additionally, they might provide insights into current operations, which fuels the growth of the UAE facility management market.
Furthermore, the UAE government is investing heavily in the country's infrastructure by constructing additional ports, airports, railroads, and other facilities. The need for cleaning services has grown as a result of the government's and different facility management service providers' expanded collaboration in maintaining hygienic and ecologically friendly infrastructure.
Challenges:
The increasing rate of inflation in the UAE economy is putting increasing pressure on facilities management service providers. Labor costs account for sixty percent of the operational costs of service providers, which are subject to inflation. The variable cost of personnel, consumables, spare parts, and logistics is another major barrier to the growth of the facility management market in the United Arab Emirates.
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Impact of COVID-19 on UAE Facility Management Market
The enormous COVID-19 outbreak has impeded the UAE's economic progress. Major economic activities that supported the UAE's GDP, such tourism and the oil and gas industry, were hindered by the locking down and increasing number of COVID-19 cases. Moreover, the UAE government briefly outlawed economic activities during the epidemic in an attempt to restrict the virus's early spread. Due to the sharp fall in market demand for facility management, service providers experienced substantial losses.
UAE Facility Management Market Key Players:
Additionally, some of the market key players are; Deyaar Facility Management LLC (Deyaar Development PJSC), EFS Facilities Services Group, Emrill Services LLC, Engie Cofely Energy Services LLC (ENGIE SA), Enova Facilities Management Services LLC.
UAE Facility Management Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Service: Based on the Service, UAE Facility Management Market is segmented as; Hard Services, Soft Services.
By Type: Based on the Type, UAE Facility Management Market is segmented as; Inhouse, Outsource.
By End User: Based on the End User, UAE Facility Management Market is segmented as; Commercial and Retail, Manufacturing and Industrial, Government, Infrastructure, and Public Entities, Institutional, Other.
By Region: This research also includes data for Eastern Region, Western Region, Northern Region, Southern Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
UAE Facility Management Market Future Outlook
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