/PRNewswire/ The "United States Facility Management Market Competition Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com s.
United States $345+ Bn Facility Management Markets, globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.
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The Saudi Arabian Facility Management Market was valued USD 24.15 Billion in 2019 and is forecast to grow at 7.64% CAGR during the forecast period, to reach USD 31.48 Billion by 2025.
Saudi Arabia is the largest market for facility management services in the Gulf Cooperation Council (GCC) region. The market for facility management in Saudi Arabia grew at a healthy pace during 2015-2019 due to increasing investments in the country s construction sector.
The Construction sector in Saudi Arabia contributes about 8% to the country s total GDP. Moreover, Saudi Arabia is poised to become one of the largest construction markets in the Middle East, with more than USD800 billion investments originating from large scale infrastructure projects in the country by 2030.
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The Canadian Facility Management Market stood at USD32.17 billion in 2020 and is forecast to grow at a CAGR of over 6.35% until 2026.
Growth in the facility management market is driven by growing housing market, smart cities development and rapid infrastructure development in the country. Furthermore, booming Internet of Things (IoT) market, integration of facility management in building design and increasing demand for cyber and information security management is expected to positively influence the Canadian Facility Management Market in the coming years.
Based on services, the market is segmented into property, cleaning, security, catering, support and others. Cleaning services dominated the market in 2020 and is expected to maintain its market dominance during the forecast period, backed by growth in the country s industrial and commercial sectors.