Market Size of Middle East and Africa Soft Facility Management Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 7.70 % |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
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MEA Soft Facility Management Market Analysis
The Middle East and Africa Soft Facility Management Market is estimated to register a CAGR of 7.7% over the next five years. Several private and public projects, including construction, infrastructural, energy projects, etc., are creating a massive demand for the soft facility management market.
- The key players in the soft facility management market include EFS Facilities Services Group, Ejadah Asset Management Group, Emrill Services LLC, Farnek Services LLC, and Sodexo Inc, which offer cleaning facility management services, catering services, additional support, landscaping services, and security services that will drive new growth opportunities in the end-user industries (Commercial, Institutional, Public/Infrastructure, Industrial) in the Middle East, and Africa.
- Megaprojects are particularly used for infrastructure development and are being undertaken increasingly across the Middle East & African Countries. Megaprojects are highly complex that involve significant construction activities. New construction activities will further increase the need for soft facility services.
- Saudi Vision 2030 is the major factor driving new construction plans. The government's vision is to prompt the development of megaprojects across multiple commercial spaces, be it in the retail, tourism, or residential sector, all of which will need soft facility services. For instance, USD 1 trillion was spent on infrastructure and real estate projects and USD 575 billion in investment to develop the Red Sea Coast into a global tourism and business hub. Additionally, there are eleven mega projects active in Saudi Arabia. Such construction activities increase the need for soft facility services.
- Furthermore, automation and robotics have penetrated growth for the commercial maintenance and cleaning market. For instance, Proven Robotics introduced its first robotics technical services and training center in Saudi Arabia last year. These robots used for cleaning practices will bring new growth opportunities to the soft facility management market.
- Key players offer soft facility management and contribute significant growth to the market. For Instance, Sodexo offers soft services such as cleaning, catering, vending, etc. The company's services saw a significant revenue decline due to COVID-19. Post-COVID-19, the demand for cleaning and catering is expected to create new opportunities for the soft facility management market.