Government projects and increased spending on infrastructure projects to drive the Oman facility management market growth in the forecast period.
According to TechSci Research report, “Oman Facility Management Market - By Region, Competition Forecast & Opportunities, 2018-2028,” the Oman Facility Management Market is expected to register robust growth during the forecast period, 2023-2028. Facility management (FM) is on the rise with rapid urbanization and increased spending on infrastructure projects. Facility management is useful because it is a common service required in residential, commercial, and many other areas. With both government and private projects on the rise, owners want to create world-class facilities for themselves and others. Facility management has been around for a long time, but over time companies have changed their model of service delivery while introducing new devices that offer more security. Many market players also now offer the integration services required by FM services put together by a team. By using FM services as needed owners can expect to extend the overall useful life of their buildings by a few more years, allowing owners to renovate their buildings with minimal disruption and harm to no one.
Facilities management is on the rise in Oman as the government has taken several important initiatives, such as rebuilding the country's infrastructure and changing urban planning as part of Oman Vision 2040. Oman has also taken several steps to increase foreign direct investment into the country, leading the country to build commercial hubs around Oman. Many companies see this as an opportunity to grow their workforce and engage in innovation in the facility management market. Oman also sees Vision 2040 as an opportunity to get out of its oil, fishing, and trading economy to add financial and real estate sources into its GDP, which will secure its income in case oil is low in quantity. Moreover, the country expects its FDI investment to increase in the forecast period.
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on the "Oman Facility Management Market."
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The Oman Facility Management Market is segmented into service, type, industry, end user, and sectors. Based on service, the market is divided into Property, Cleaning, Security, Support, Catering & Others. Over the course of the forecast period, it is expected that demand for property services would rise because of growth in the industrial and commercial sectors, as well as favorable lending circumstances, rising purchasing power parity, and a booming housing sector. Throughout the forecast period, the property and facility management market is expected to benefit from favorable socio-demographic characteristics such as income level, literacy level, and the growth of the financial sector. The government has also put economic policies into place and launched incentive programmes to help the development of a variety of industries, including the real estate sector.
Based on type, the market is segmented into hard & soft. During the projected period, the soft segment in the type is expected to dominates the demand for Soft FM services has significantly increased, with a special focus on cleaning services to cleanse business areas and follow hygiene guidelines. Businesses are putting more effort into enhancing productivity and streamlining daily tasks while consuming less energy. Because of this, companies that manage soft services facilities use automation technology to cut back on energy usage.
Based on Industry, the market is segmented into Organized, Unorganized. During the projected period, the unorganized segment is expected to dominate the market in the forecast period of 2023-2028. Many business owners are only interested in providing 1 or 2 services while working alone or with an assistant. By doing this, they narrow their focus to services that are simple to complete, demand fewer skilled resources, and don't demand a significant investment in equipment.
Based on End User, the market is segmented into Commercial, Residential, Industrial, Public Sector. During the projected period, the commercial segment in the service type held the largest market share with robust CAGR during the forecast period.
Based on Sectors, the market is segmented into Education, Healthcare, Real Estate, Banking, Hospitality, Housing, Others. During the projected period, the Real Estate segment is expected to dominate the market in the forecast period of 2023-2028. The Omani government is focused on building many residential and commercial complexes.
Key market players in the Oman Facility Management Market: -
- Qurum International Group
- Oman International Group SAOC
- Renaissance Services SAOG
- Daud Engie Group
- Bahwan Engineering Company LLC
- Al Naba Services LLC
- General Electric & Trading Co. LLC (Genetco)
- G4S Facilities Services LLC
- Stalwart Facilities Management LLC
- United Facilities Management Services LLC
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"Facility management services come with an increasing number of infrastructure projects. Rapid urbanization has given way to new construction and maintenance of previous ones to meet Oman's facility management needs. Oman with Vision 2040 sees an opportunity to come into the eyes of big investors," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Oman Facility Management Market By Service (Property, Cleaning, Security, Support, Catering & Others), By Type (Hard Services and Soft Services), By Industry (Organized, Unorganized), By End User (Commercial, Residential, Industrial, Public Sector), By Sectors (Education, Healthcare, Real Estate, Banking, Hospitality, Housing, Others) By Region, Competition Forecast & Opportunities, 2018-2028,” has evaluated the future growth potential of Oman Facility Management Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities Oman Facility Management Market.
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