Uploaded on Oct 13, 2022
Saudi Arabia Facility Management Market was valued at USD23.30 billion in 2021 and is anticipated to generate robust growth during the forecast period with a CAGR of 6.97% owing to the growing focus on outsourcing, rapidly increasing internet of things (IoT) market, technology integration, etc. Any tangible asset used by an organization to support its operations is known as a "Facility," according to a common definition. The term "facility management" refers to the upkeep of a company's physical assets, such as its buildings and machinery, through services like cleaning, security, mechanical, electrical, and plumbing (MEP) maintenance, etc. This increases the efficiency of the company's core operations. Primarily, facility management includes catering, security, cleaning, property, and support service. These services are necessary for the effective operation of the business as well as to ensure smoothing functioning.
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