Gurugram, India, Jan. 20, 2023 (GLOBE NEWSWIRE) —
- Residential units would be a major booming segment to focus on due to the rising younger population, ex-pats, and government-sponsored affordable housing programs to the poor population.
- In coming years, the entry of many new companies in the industry is expected, especially real estate developers and international players with more advanced technology assisted service delivery.
- Rapid real estate development in terms of smart city development, new infrastructure developments, and focus on tourism and hospitality promotion are the supporting factor for commercial facility management services revenue.
Growing Industrial Sector: FM services in Industrial sector is expected to grow the highest during the period 2021-2026F. In future, it is anticipated that the demand for commercial office spaces will increase constantly, which will be the key contributor to the growth of this sector. Outsourcing is expected to witness a growth during the period 2021-2026F. This is resulting due to adoption of light business model, which will enable firms to enter new markets at a faster rate.
Technological Advancements: Various techniques can be used in innovation and technology can be used to better the FM industry in Egypt. The integration of technology will lead to more quality services bring provided such as observation of the external envelope of the building and checking the damage which will be difficult to reach manually. Technological Advancements leads to lesser dependence on labor, improved quality of services and cost reduction.
Focus on Green Building Management & Energy Efficiency: Green buildings aim at increasing the efficiency of resource usage while minimizing its negative impact on humans and surroundings. Efforts are being made to identify relationships between green building key management practices and green building performance. Structural and non-structural approaches are being adopted for energy management so as to achieve cost reduction in the building operations.
Analysts at Ken Research in their latest publication “Egypt Facility Management Market Outlook to 2026F-Driven By Rising End-Users Awareness, Improving Technology and Government’s Strong Initiatives regarding Infrastructure” by Ken Research observe that the Facility Management market is an emergent market in Egypt at a rebounding stage from the economic crisis after the pandemic. The rising government policies and demand for facility services, distinctive strategic location along with government are initiatives expected to contribute to the market growth over the forecast period. The market is expected to grow with a double digit CAGR during 2021-2026F owing to the rise in the economy of the country, increasing consciousness towards looks, and new government policies.
Key Segments Covered in the report:-
EGYPT Facility Management Market
By Type of Services
- Soft Services
- Hard Services
By Soft Services
- Housing keeping
By Hard Services
- Electromechanical Services (including HVAC)
- Operations and Maintenance Services
- Fire Safety and Security Systems
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By Service Type
- Integrated facility management (IFM)
- Bundled services
- Single services
By End user Sector
- Commercial (Includes Offices, retail, infrastructural)
By Personal Type
- Outsourced Personnel
- In-House Personnel
Key Target Audience:-
- Plants and Industries
- Companies and offices
- Tourism Agencies
- Government Bodies & Regulating Authorities
- Facility management companies
- Real estate companies
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Time Period Captured in the Report:-
- Historical Period: 2016-2021
- Forecast Period: 2021-2026F
- HASSAN ALLAM
- EFS Facilities Services
- Qatar British Business Forum
- KHARAFI NATIONAL
Key Topics Covered in the Report:-
- Egypt Real Estate Market Overview, 2021
- Major Real Estate Giga Projects in Egypt
- Egypt Facility Management Market Ecosystem
- Business Cycle, Genesis, and Timeline of Egypt Facility Management Market
- Value Chain & Vendor Selection Process of EGYPT Facility Management Market
- Business Acquisition Process in Egypt Facility Management Market
- Egypt Facility Management Market Size, 2021
- Egypt Facility Management Market Segmentation, 2021
- SWOT Analysis of the Egypt Facility Management Market
- Key Growth Drivers in Facility Management Market in Egypt
- Trends and Developments in Egypt Facility Management Market
- Major Challenges Faced by the Egypt Facility Management Market
- Competition Framework for Egypt Facility Management Market
- Future Outlook and Projections of the Industry, 2021-2026F
- Market Opportunities and Analyst Recommendations
For more insights on the market intelligence, refer to below link:-
Egypt Facility Management Market
Related Reports By Ken Research:-
Kuwait Facility Management Market Outlook to 2026F- Driven by Rising End-Users Awareness, Improving Technology and Government’s Strong Initiatives regarding Infrastructure
Kuwait Facility Management Market has experienced an irregular growth rate over the period 2018-2021, with a sudden decline in 2020 due to COVID-19 and certain regulations imposed by the Government of Kuwait that interfered in the normal functioning of the industry. The Kuwait Facility Management Market experienced growth in 2021 due to an increase in demand for the services by the commercial sector. Factors such as cost-effectiveness, Technological advancement and Increased Public Spending on infrastructure and Sustainability driving the overall Facility Management Market in Kuwait.
Vietnam Facility Management Market Outlook to 2023 – By Single, Bundled and Integrated Services; By Soft Services (Housekeeping, Security, Landscaping and Others) and Hard Services (Electromechanical Services, Operations and Maintenance Services, Fire Safety and Security Systems), By End User Sectors (Commercial, Industrial, Hospitality, Residential, Infrastructure and Others)
In future, it is anticipated that Vietnam facility management industry revenue will increase at a positive CAGR during the period 2018 – 2023E. In Vietnam, it is expected that the demand for both soft and hard services will be augmented largely due to growth in the Government outsourcing through Public Private Partnerships (PPP) and Build operate transfer (BOT). Increasing demand from multinational clients is likely to drive future demand for Integrated Facility Management (IFM) services in Vietnam with industrial expansion, commercial office buildings and infrastructure sector being the future penetration sectors for IFM services. The growth in residential, retail, commercial, industrial and infrastructure sectors’ spending will further increase the demand of FM services.
Indonesia Facility Management Market Outlook to 2023 – By Single, Bundled and Integrated Services; By Soft Services (Housekeeping, Security, Landscaping and others ) and Hard Services (Electromechanical services, Operations and Maintenance Services, Fire Safety and Security Systems), By End User Sectors (Industrial, Commercial, Residential, Infrastructure and others)
Indonesia Facility Management market is at the growing stage. Indonesia Facility Management market in terms of revenue has increased at a positive CAGR during the period 2012-2018(P). This growth was supported by the growth of multinational companies, especially in the construction industry, along with rising demand for industrial and residential spaces in the country, wherein market players catered to the needs of the clients for both hard and soft services. The customers in the market are highly price sensitive and lack awareness about the importance of facility management services has resulted in low penetration.
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth