Impact of COVID-19 on the Gulf Corporation Council (GCC) Facilities Management Market

Impact of COVID-19 on the Gulf Corporation Council (GCC) Facilities Management Market

Technology Strategy Based on AI and Robotics to Deliver More Efficient FM Services

RELEASE DATE
21-Dec-2020
REGION
South Asia, Middle East & North Africa
Research Code: PB46-01-00-00-00
SKU: EN01226-SA-MT_24964

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Description

Although the COVID-19 pandemic has devastated the global economy, the GCC facilities management (FM) market has been among the lesser impacted industries. This study covers the reasons why and offers the results of Frost & Sullivan’s extensive engagement survey (in collaboration with MEFMA) of key industry players active in the region. In particular, companies from the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE) dominate the industry by market share and technology adoption.

This study outlines the market’s growth potential, competitive environment, key disruptive trends, and growth drivers and challenges. The research covers market demand and outlook for both hard and soft services across the region, considering the COVID-19 pandemic and in general terms. Extensive commentary is included on the impact of the pandemic, response strategies, and the resulting changes that will be adopted by industry stakeholders in the near future.

In addition, this research explores the strategic imperatives and next steps service providers must consider, growth opportunities available to existing players and new entrants, and revenue forecasts. The product segments covered are residential cooling systems, light commercial cooling systems, and commercial cooling systems. The geographic coverage is confined to the GCC.

The market is forecast to grow at a compound annual growth rate (CAGR) of 6.1% from 2019 to 2024. UAE is the fastest growing market in the region, followed by KSA.

Artificial intelligence (AI) and robotics, machine learning, Internet of Things (IoT), and Industry 4.0 are the key technologies that are disrupting the industry as service providers continue to recognize the synergies and paybacks that technology implementation offers in both financial savings and operational efficiency.

Frost & Sullivan research finds that the region was well prepared to handle the COVID-19 pandemic, and companies with robust business continuity plans were quick to rebound and capitalize on the opportunities presented.

Author: Nideshna Naidu

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
Click image to view it in full size

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the GCC FM Market

Growth Opportunities Fuel the Growth Pipeline Engine™

Key Growth Metrics for FM Market

Growth Drivers for FM Market

Growth Restraints for FM Market

Growth Opportunity 1: Cleaning and Sanitization Services to Prevent Spread of COVID-19, 2020

Growth Opportunity 1: Cleaning and Sanitization Services to Prevent Spread of COVID-19, 2020 (continued)

Growth Opportunity 2: HVAC Maintenance to Improve Air Quality, 2020

Growth Opportunity 2: HVAC Maintenance to Improve Air Quality, 2020 (continued)

Growth Opportunity 3: Workplace Change Management and Optimization, 2020

Growth Opportunity 3: Workplace Change Management and Optimization, 2020 (continued)

Survey Context

Respondent Profile: eSurvey

Respondent Profile: In-depth Discussions

Services That Witnessed High Demand During COVID-19

Operational Challenges and Mitigation Measures Adopted

Impact of COVID-19 on Revenues and Costs

Impact of COVID-19 on Revenues and Costs (continued)

Response Strategies During COVID-19

Operational Imperative for Post-COVID-19 Scenario

Pandemic and Response Strategies Adopted by Service Providers

Key Technologies: Their Role and Impact on Preparedness for Transformation Post-COVID-19

Key Technologies: Their Role and Impact on Preparedness for Transformation Post-COVID-19 (continued)

Technology and the COVID-19 Pandemic

Technology and the COVID-19 Pandemic (continued)

Amendments in Contracts and Regulatory Compliance

Roles and Responsibilities of Stakeholders in a Post-COVID-19 Era

Impact on Salaries Post COVID-19

Cost of Compliance with Municipality / Government Requirements

Opinion Corner

Opinion Corner (continued)

Top Predictions for FM Market

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

Related Research
Although the COVID-19 pandemic has devastated the global economy, the GCC facilities management (FM) market has been among the lesser impacted industries. This study covers the reasons why and offers the results of Frost & Sullivans extensive engagement survey (in collaboration with MEFMA) of key industry players active in the region. In particular, companies from the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE) dominate the industry by market share and technology adoption. This study outlines the markets growth potential, competitive environment, key disruptive trends, and growth drivers and challenges. The research covers market demand and outlook for both hard and soft services across the region, considering the COVID-19 pandemic and in general terms. Extensive commentary is included on the impact of the pandemic, response strategies, and the resulting changes that will be adopted by industry stakeholders in the near future. In addition, this research explores the strategic imperatives and next steps service providers must consider, growth opportunities available to existing players and new entrants, and revenue forecasts. The product segments covered are residential cooling systems, light commercial cooling systems, and commercial cooling systems. The geographic coverage is confined to the GCC. The market is forecast to grow at a compound annual growth rate (CAGR) of 6.1% from 2019 to 2024. UAE is the fastest growing market in the region, followed by KSA. Artificial intelligence (AI) and robotics, machine learning, Internet of Things (IoT), and Industry 4.0 are the key technologies that are disrupting the industry as service providers continue to recognize the synergies and paybacks that technology implementation offers in both financial savings and operational efficiency. Frost & Sullivan research finds that the region was well prepared to handle the COVID-19 pandemic, and companies with robust business continuity plans were quick to rebound and capitalize on the opportunities presented. Author: Nideshna Naidu
More Information
No Index No
Podcast No
Author Nideshna Naidu
Industries Environment
WIP Number PB46-01-00-00-00
Is Prebook No
GPS Codes 9343-A4