SecurityWorldMarket

08/04/2020

MEA building management market driven by energy conservation awareness

New Delhi, India

The Middle East & Africa (MEA) building management market size is projected to grow at a CAGR of 4.2% during 2020-2026 according to the latest information from 6wresearch. The UAE and Saudi Arabia hold major market revenue shares in the building management system market in the Middle East & Africa region on account of rising awareness of energy conservation.

Rapid infrastructural developments supported by the government initiatives to diversify the economy from oil to non-oil sectors are expected to boost the growth of the building management system market in the Middle East & Africa region. Furthermore, the increasing influx of FDI in the commercial and retail sectors is anticipated to augment the growth of the building management system market in the region over the forthcoming years.

Additionally, an increase in the number of green buildings to promote sustainability and several smart city projects such as Neom in Saudi Arabia, New Administrative Capital in Egypt would lead to the significant growth in the building management system market in the region over the forecast period. However, the spread of the coronavirus has shook the global economy, which in turn would affect foreign direct investments in the commercial and retail sectors.

According to Prateek Gupta, Senior Research Analyst, 6wresearch, “Based on solution types, facility management system is the leading revenue generating segment in the building management system market in the Middle East & Africa region on account of the rapid technological innovations that would promote the building automation techniques to reduce the operational and maintenance costs.”

“Widening energy deficits due to rising urbanisation has led to the high pressure on the energy generating capacity which thereby would provide immense opportunities for the building management systems players in the energy sector in the Middle East & Africa region”. Prateek further added.

According to Swati Acharya, Research Associate, 6wresearch, “On the basis of applications, the commercial sector holds a dominant market revenue share and would continue the same in the coming years on account of the rapid growth in the construction sector which involves the expansion of railway tracks, modernisation of airports, high-speed railways thereby creating a multitude of prospects for the building management system market in the commercial sector.”

“Middle East & Africa Building Management System Market (2020-2026)" report provides an in-depth analysis with estimates and forecast of the overall Middle East & Africa building management system market by types, solutions, services, applications, and countries including Saudi Arabia, UAE, Qatar, Kuwait, Egypt, South Africa, Nigeria and the Rest of the Middle East & Africa.


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