MarkNtel Advisors recently published a research report stating that the Africa Facility Management Market size is projected to grow at a CAGR of around 6.5% during the forecast period, i.e., 2024-30. The construction activities at a massive scale are significantly boosting the Facility Management Market in the region since continuous construction activities lead to the demand for several vital services in the facility management segment such as cleaning, disinfection, and space management services.
Moreover, several additional aspects such as the rising inclination of the people in Africa towards high-quality third-party services, swift infrastructure developments, the inflow of private sector investments, and the integration of technological advances are also propelling the market growth significantly. The report further mentions the skill gap challenge in the Africa Facility Management Market poses as a potential hindrance to market growth.
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Talking about the market players in the Africa Facility Management Market, the major ones include Bidvest Facilities Management, Tsebo Solutions Group (PTY) Ltd., Excellerate Service, Broll Property, JLL, Mace Group, Cushman & Wakefield, Colliers International, AECOM, Savills plc, G4S Limited, Knight Frank, among others. These key players capture a prominent market share and stand at the forefront of the facility management industry in Africa.
Analyzing the Africa Facility Management Market Segmentation
· By Type (Hard, Soft, Risk, and Administrative)
· By Operating Model (In-house and Outsourced)
· By Service Delivery (Integrated, Bundled, and Single Services)
· By End Users (Residential, Government, BFSI, Corporates, Healthcare, Hospitality, and Others (Education, Retail, etc.))
· By Enterprise Size (Large, Mid-size, and Small)
· By Country (South Africa, Egypt, Nigeria, Algeria, Morocco, and Rest of Africa)
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When it comes to operating models, outsourced facility management solutions hold a dominant stance in the Africa Facility Management Market. The segment’s growth is backed by a combination of factors and illustrated by remarkable projects and conglomerates throughout Africa. This trend leads to a tactical shift among organizations to enhance operational productivity and resource distribution by leveraging external know-how and dedicated services. Enterprises and businesses can concentrate on their main activities and take advantage of rationalized operations and greater service delivery standards by outsourcing maintenance, cleaning, and security services to professional facility management firms. Additionally, partnerships and associations between facility management providers and major corporations exhibit the significance of outsourcing in driving cost-effectiveness, scalability, and customer happiness.
Nigeria holds a significant stance in the Africa Facility Management Market. The region’s hands-on approach to developing infrastructures is driven by several tactical government initiatives and combined funding from international organizations. Moreover, ventures such as the National Integrated Infrastructure Master Plan (NIIMP) and association with entities like the World Bank and the African Development Bank have further boosted Nigeria’s impetus, placing it as a pivotal point for considerable development within the sector. Also, the swift growth of facility management services across Nigeria is further driven by the thriving tourism industry and the advent of the real estate industry nationwide.
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