Market Size of Albania Facility Management Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.06 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Albania Facility Management Market Analysis
The Albania Facility Management Market is expected to register a CAGR of 2.06% from 2022 to 2027. Albania is supposed to be one of the major outsourced markets for facility management services in maturity and sophistication.
- Digitalization nowadays has become the key to the growth of the FM industry. Since the development of CAFM systems, building automation in the 1990s, the advent of Building Information Modelling in the early 2000s, and the PropTech wave during the 2010s, the automation, and digitalization, of FM processes have progressed steadily. However, these technological advances have had only a moderate impact on how core FM services are delivered. The main job profiles in the FM industry have remained surprisingly stable.
- PropTech initiatives have been driven by many start-ups financed by venture capital from institutional, corporate, and private sources. This leads to a much more comprehensive range of ideas and improvements developed to market maturity. The chance that several disruptive ideas will break through is higher than ever.
- There has been increasing awareness within the property and facility management industry of the effectiveness of building management which is directly determined by how the building is operated and managed. The industry also realizes the importance of accreditations and certifications to take a snapshot of the technologies, infrastructure, and systems.
- The uncertainty over land rights remains a crucial obstacle to the country's economic and social development, severely impacting the overall FM industry business in the region. On top of these limiting factors, the ongoing Ukraine war will further disrupt the supply chain and undermine investors' confidence in the regional market.
- The outbreak of COVID-19 has had a severe impact on facilities management firms. The restrictions on the movement of people resulted in a decline in project work and a decreased level of activity across many customer sites. Significant players in the market, such as CBRE Group, Diversey, and others, were adversely affected due to the pandemic lockdown.
