The Facility Management market in the past was highly dominated by soft services but technological advancement has led to the increasing demand for hard services during the review period (2011-2017).
The facility management companies have started using technologies as the use of cutting edge tools, combined with rising demand for smart platforms, have created a considerable demand for Computer Aided Facility Management (CAFM) platforms. CAFM software provides facility management companies with administrative real time information which help them to track, manage, report and plan assets and facilities. CAFM helps in easing asset management, planned maintenance, corrective maintenance and helping all stakeholders to make collaborative informed decisions.
Facility Management (FM) market in Oman has witnessed robust growth during the review period; however, the market is still in its growth stage. The market is highly fragmented with large number of players operating within the FM industry. The contracts are majorly awarded to the inside based contractors. The FM market in the past was highly dominated by soft services but technological advancement has led to the increasing demand for hard services during the review period.
The major growth drivers for the industry include the booming real estate market, growing construction industry, increasing number of shopping malls and supermarkets and expanding hospitality sector. The focus on Green Buildings aligned to Vision 2030 has also created opportunities for FM services in the country through the development of large scale projects.
The commercial sector in Oman has been growing in recent years and is expected to grow further with the 9th Five Year Development plan and Vision 2020 of the country. Industrial sector has given a boost to the commercial sector in Oman with various projects developing in this sector, having a positive impact on the Oman Facility Management market. Moreover the rising retail sector is one of the growth drivers for growth in the commercial sector.
The primary challenge faced by the industry is the lack of awareness of FM services, resulting in low penetration. In addition, under-developed outsourcing, regulatory issues, low level of investment, low availability of skilled labor and dependency on foreign expats are some of the other major challenges for the facility management market.
The report titled “Oman Facility Management Market Outlook to 2022 – By Soft Services (Housekeeping, Landscape Access and Façade Access, Security, Others) and By Hard Services (HVAC, Electromechanical, Operational and Maintenance, Fire Safety and Security)” believe that the commercial sector in Oman has been growing and is expected to augment further given the 9th Five Year Development plan and Vision 2020 of the country. The market is expected to register a positive CAGR of 6.9% in terms of revenue during the forecast period 2018-2022E. The market is further expected to be driven by the rising competition from new companies entering the market.
Key Topics Covered in the Report
Facility Management Services Industry
Oman Facility Management Growth
Oman Facility Management Trends
Soft Facility Management Market Oman
Cleaning Services Market in Oman
Electromechanical Services Market Oman
Major Companies Oman Facility Management
Facility Management Market Middle East
Facility Management Market GCC
Facility Management Industry the Gulf
Muscat Facility Management Market
Middle East Facility Management Association
For more information on the research report, refer to below link:
Ankur Gupta, Head Marketing & Communications