Press Release Description

Africa Facility Management Market to Record a Substantial CAGR of Around 6.5% During 2024-30

The Africa Facility Management Market is projected to grow at a CAGR of 6.5% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The African market has experienced significant growth, primarily due to increased construction activities. This surge has created a higher demand for essential facility management services such as cleaning, disinfection, and space management. This trend underscores the critical need for robust facility management solutions, especially as there is a regional preference for high-quality third-party services and rapid infrastructure improvements. Additionally, as the market aligns with the Africa Union's Agenda 2063 and undergoes significant demographic shifts like population growth, economic dynamism, and urbanization, it presents expanded business opportunities.

Key industry players like Broll Property Group and Mace Group are strategically expanding their operations into regions with growing foreign investments, stimulating further evolution and growth within the market. Alongside infrastructure development, the integration of technological innovations is transforming facility management across Africa, with leading companies embracing advancements such as smart building technologies, IoT solutions, and predictive maintenance systems.

Companies like Cushman & Wakefield and JLL are at the forefront of leveraging these technologies to enhance their service offerings. By harnessing data analytics & AI, these firms aim to provide decision-makers with actionable insights for strategic planning and resource optimization. Local companies are also collaborating with technology partners to implement solutions tailored to the African market.

This collective effort toward embracing technology drives operational efficiency, reinforces transparency and accountability, and positions African nations at the forefront of sustainable facility management practices, enhancing the region's global competitiveness and fostering innovation & digitalization, further states the research report, “Africa Facility Management Market Analysis, 2024.”

Africa Facility Management Market

Africa Facility Management Market Segmentation Analysis

Outsourced Segment to Lead the Africa Facility Management Market Growth

Based on the operating model segment, the market is further bifurcated into In-house and Outsourced. The Outsourced facility management solutions segment is expected to play a pivotal role in shaping the trajectory of the Africa Facility Management Market, offering a strategic avenue for organizations to enhance operational efficiency & effectiveness.

By leveraging external service providers to deliver essential maintenance, cleaning, and security services, businesses can streamline their operations & refocus resources on core business activities. This strategic shift towards outsourcing provides numerous benefits, including reduced operational costs, access to specialized expertise, and the adoption of efficient management practices. Moreover, outsourcing enables organizations to benefit from comprehensive support and guidance from skilled professionals, ensuring optimal facility management outcomes.

Nigeria to Dominate the Africa Facility Management Market Growth

Nigeria's significant presence in the African Facility Management Market is driven by proactive infrastructure development initiatives. Also, key projects like the National Integrated Infrastructure Master Plan (NIIMP) and partnerships with the World Bank and African Development Bank have propelled Nigeria forward, positioning it for substantial growth.

Moreover, the growth of facility management services in Nigeria is also fueled by a flourishing tourism sector and burgeoning real estate industry, leading to a surge in construction activities across various sectors. Furthermore, as Nigeria continues its infrastructural development and economic growth, the African Facility Management Market sees a steady upward mobility, affirming Nigeria's role as a driver of development in the broader African landscape.

Africa Facility Management Market Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including 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 Franke, etc., are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Market Size- By Value, Forecast Numbers, Segmentation, Market Shares)?
  2. What are the market trends influencing the current scenario of the Africa Facility Management Market?
  3. What key factors would propel and impede the industry across the countries?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping across the countries?
  6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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