Press Release Description
Tourism Sector to continue to Drive the Ivory Coast Facility Management Market through 2025
The facility management market in Ivory Coast is expected to have a gradual growth with new construction projects being introduced in the country. In addition, the government is emphasizing on growing the tourism sector in the country. Therefore, in 2019, the government of Ivory Coast planned to seek USD 5.8 billion from the African Development Bank (AFDB) to transform the country in one of the top tourist destinations in Africa by 2025. The initiative is projected to increase the development in the hospitality sector thereby surging the growth of facility management market in the years to come.
According to MarkNtel Advisors’ research report “Ivory Coast Facility Management Market Analysis, 2020”, the facility management market is anticipated to grow at a CAGR of around 13% during 2020-25. Côte d'Ivoire is the largest economy in the West African Economic and Monetary Union (WAEMU/UEMOA) and contributed to around 35% of the region’s total GDP in 2018. Due to the escalating investments from European Union countries, China, Morocco, and France, the country has been experiencing a significant GDP growth rate over the past 6-7 years. In addition, the introduction of new infrastructure projects in the country has a positive impact on the growth of facility management market.
The National Development Plan 2016-20 consists of projects with a total cost of USD 50 billion. Under the development plan, the government is aiming to introduce new power projects which include the building of a 25 MW Cotton Biomass Plant, a 20 MW Cocoa Biomass Plant, etc. In addition, the plan comprises of establishing an exhibition center in Abidjan. Therefore, the National Development Plan is expected to increase the demand for facility management services in the years to come, revealed by MarkNtel Advisors’ research report “Ivory Coast Facility Management Services Market Analysis, 2020”.
As per MarkNtel Advisors’ study, the in-house facility management grabbed the highest market share in the Ivory Coast facility management market in 2019. The traction towards in-house services is higher among small and medium scale enterprises whereas the utilization of outsourced delivery model is more by the larger organizations.
The growing footprints of foreign investors in Ivory Coast have positively impacted the growth rate of outsourcing of facility management. The rate of outsourcing of facility management is rising at a faster pace for services such as plumbing, security, firefighting catering, building management system, etc.
"Ivory Coast Facility Management Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for facility management firms across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go to Market Strategies and identifying the blue ocean for their offerings.
1. By Type (Hard, Soft, Risk, Administrative)
2. By Service Delivery (Single Service, Bundled, Integrated)
3. By Size (Small Enterprise, Mid-Size Enterprise, Large Enterprise)
4. By End Users (Residential, Commercial, Government, Retail, Education, Healthcare, Hospitality, Others)
5. By Geographic Region (West, East, North, South)
6. By Competitors (Atalian Cote d'ivoire, Tsebo Solutions Group (Pty) Ltd, Broll Properties (Pty) Ltd, G4S PLC, GLS Catering, Solmed Alliance, Others)
Key questions answered in the study:
1. What are the current and future trends of the Ivory Coast facility management market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the Ivory Coast facility management market?
6. What are the customer orientation, purchase behavior, and expectations from the facility management companies across various regions?
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