DUBLIN – (BUSINESS WIRE) – Added the report “Impact of COVID-19 on the Facility Management Market by Gulf Corporation Council (GCC)” ResearchAndMarkets.com Offer.
Although the COVID-19 pandemic has devastated the global economy, the GCC facility management (FM) market is one of the least affected industries. This study covers the reasons for this and provides the results of a comprehensive engagement survey (in collaboration with MEFMA) among key industry players operating in the region. Companies from the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE) in particular dominate the industry in terms of market share and technology introduction.
This study describes the growth potential of the market, the competitive environment, important disruptive trends as well as growth drivers and challenges. The study covers market demand and prospects for hardware and soft services in the region, taking into account the COVID-19 pandemic and in general. Extensive comments are included on the impact of the pandemic, response strategies and resulting changes that will be adopted by industry stakeholders in the near future.
In addition, this study examines the strategic requirements and next steps that service providers need to 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. Geographic coverage is limited to the GCC.
The market is expected to grow from 2019 to 2024 at an average annual growth rate (CAGR) of 6.1%. The 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 disrupting the industry as service providers continue to see the synergies and paybacks that technology implementation can use for both financial savings and operations offers efficiency.
The study found the region was well prepared for the COVID-19 pandemic, and companies with solid business continuity plans quickly recovered and seized the opportunities presented.
Main topics covered:
1. Strategic imperatives
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Why is it getting harder and harder to grow?
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The strategic imperative
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The Impact of the Three Major Strategic Imperatives on the GCC FM Market
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Growth opportunities fuel the growth pipeline engine
2. Analysis of growth opportunities – FM market
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Important growth metrics for the FM market
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Growth driver for the FM market
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Growth Restrictions for the FM Market
3. Universe of growth opportunities – FM market
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Growth Opportunity 1: Cleaning And Disinfection Services To Prevent The Spread Of COVID-19, 2020
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Growth Opportunity 2: HVAC Maintenance to Improve Air Quality, 2020
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Growth Opportunity 3: Workplace Change Management and Optimization, 2020
4. Impact of COVID-19 on the GCC FM Market – Survey-Based Assessment
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Survey context
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Profile of the respondents: eSurvey
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Interviewees’ profile: extensive discussions
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Services that saw high demand during COVID-19
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Operational challenges and mitigation measures
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Influence of COVID-19 on sales and costs
5. Industry readiness to respond to and recover from COVID-19
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Response strategies during COVID-19
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Operational imperative for the post-COVID-19 scenario
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Pandemic and response strategies from service providers
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Key technologies: their role and influence on readiness for transformation after COVID-19
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Technology and the COVID-19 pandemic
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Changes to contracts and legal compliance
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Stakeholder roles and responsibilities in a post-COVID-19 era
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Effects on salaries after COVID-19
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Cost of meeting community / government requirements
6. Customer Offers
7. Last word
Please visit https://www.researchandmarkets.com/r/p3os6v for more information on this report
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