Saudi Arabia Facility Management Market Unlocking Growth Potential: 2025-2033 Analysis and Forecasts

Key Insights

The Saudi Arabia facility management market is experiencing robust growth, projected to reach a substantial size with a Compound Annual Growth Rate (CAGR) of 12.48% from 2025 to 2033. This expansion is driven by several key factors. The Kingdom's ambitious Vision 2030 initiative, focusing on economic diversification and infrastructure development, is a major catalyst. Increased investments in mega-projects, including Neom and the Red Sea Project, are generating significant demand for comprehensive facility management services. Furthermore, the growth of the commercial and retail sectors, coupled with a rising focus on sustainability and operational efficiency within organizations, is fueling demand for both hard and soft facility management services. The market's segmentation reveals a healthy mix between in-house and outsourced facility management, with a significant portion leaning towards outsourced solutions due to cost-effectiveness and access to specialized expertise.

The market's growth trajectory is further supported by a burgeoning population and increasing urbanization in Saudi Arabia. This necessitates efficient management of public and private spaces, encompassing everything from building maintenance to security and waste management. While challenges exist, such as potential fluctuations in oil prices and competition among numerous players, the overall market outlook remains highly promising. The robust growth of the manufacturing, industrial, and government sectors further solidify the long-term potential of the Saudi Arabia facility management market. The presence of numerous established local and international players underscores the market's maturity and competitive landscape, fostering innovation and efficient service delivery. The market is poised for continued expansion as the nation progresses towards its ambitious Vision 2030 goals.

Saudi Arabia Facility Management Market Research Report - Market Size, Growth & Forecast

Saudi Arabia Facility Management Market Report: 2019-2033

This comprehensive report provides an in-depth analysis of the Saudi Arabia Facility Management Market, covering market dynamics, growth trends, key players, and future outlook. The report analyzes the market across various segments including By Type of Facility Management (In-house, Outsourced), By Offering Type (Hard, Soft), and By End-user Industry (Commercial & Retail, Manufacturing & Industrial, Government, Infrastructure & Public Entities, Institutional, Other). The study period is 2019-2033, with 2025 as the base year and a forecast period of 2025-2033. The market size is presented in Million USD.

Saudi Arabia Facility Management Market Dynamics & Structure

The Saudi Arabia facility management market is experiencing significant growth driven by large-scale infrastructure projects, increasing urbanization, and a focus on improving operational efficiency across various sectors. Market concentration is moderate, with several large players and a number of smaller, specialized firms. Technological innovation, particularly in smart building technologies and sustainable practices, is a key driver. The regulatory framework, while evolving, is generally supportive of market growth. Competitive substitutes include in-house teams, but outsourced facility management is increasingly preferred for its specialized expertise and cost-effectiveness. End-user demographics are shifting towards larger, more sophisticated facilities requiring comprehensive management solutions. M&A activity has been moderate, with a focus on consolidating smaller players and expanding service offerings.

Market Concentration: Moderate, with a few dominant players and numerous smaller firms. (XX% market share held by top 5 players in 2025)
Technological Innovation: Strong driver, particularly in areas like IoT, AI, and green building technologies. (XX% of firms adopted IoT solutions by 2024)
Regulatory Framework: Supportive, with ongoing efforts to streamline regulations and promote industry growth.
Competitive Substitutes: In-house teams, but outsourced services are preferred for specialization and efficiency.
End-User Demographics: Shift towards larger, complex facilities demanding integrated solutions.
M&A Trends: Moderate activity, with larger firms acquiring smaller ones to expand service offerings. (XX M&A deals in 2023-2024)

Saudi Arabia Facility Management Market Growth Trends & Insights

The Saudi Arabian facility management market is witnessing robust expansion, fueled by Vision 2030's ambitious infrastructure development plans and a burgeoning private sector. The market size experienced a Compound Annual Growth Rate (CAGR) of XX% during the historical period (2019-2024) and is projected to maintain a CAGR of XX% during the forecast period (2025-2033). This growth reflects rising demand for efficient and cost-effective facility management solutions across commercial, industrial, and public sectors. Adoption of smart technologies, such as building automation systems and energy management solutions, is accelerating, enhancing operational efficiency and sustainability. Consumer behavior is shifting towards a preference for integrated facility management services encompassing both hard and soft services. This trend is expected to drive market growth further, with higher market penetration in sophisticated facilities and increased outsourcing.

Dominant Regions, Countries, or Segments in Saudi Arabia Facility Management Market

The Riyadh and Jeddah regions are the dominant drivers of market growth, benefiting from the concentration of commercial, industrial, and governmental entities. Outsourced facility management is the leading segment, driven by increasing demand for specialized expertise and scalability. Within offering types, Hard Facility Management (HF), encompassing maintenance, repairs and security, presently holds a larger share. But Soft Facility Management (SF), including catering, cleaning, and landscaping, is expected to grow faster due to increased focus on workplace experience. The Commercial and Retail sector is the largest end-user, with significant growth also anticipated in the Government, Infrastructure, and Public Entities sector due to Vision 2030 initiatives.

Key Growth Drivers:
- Economic Diversification: Vision 2030 initiatives driving infrastructure development and private sector growth.
- Urbanization: Increasing population concentration in major cities boosting demand.
- Government Initiatives: Focus on enhancing public sector efficiency and sustainability.
- Technological Advancements: Adoption of smart building technologies and automation.
Market Share & Growth Potential:
- Riyadh & Jeddah: Dominant regions, holding approximately XX% of the market share (2025). (Projected growth rate of XX% during 2025-2033)
- Outsourced Facility Management: Leading segment, with a projected market share of XX% in 2025.
- Commercial & Retail: Largest end-user industry segment with XX% market share in 2025.

Saudi Arabia Facility Management Market Product Landscape

The Saudi Arabia facility management market showcases a diverse product landscape encompassing integrated workplace management systems (IWMS), building automation systems (BAS), energy management systems (EMS), and specialized software solutions for maintenance, security, and sustainability. These solutions are increasingly integrated with IoT and AI technologies to optimize building performance and enhance operational efficiency. Unique selling propositions focus on improving cost-effectiveness, enhancing sustainability, increasing occupant comfort, and boosting overall operational efficiency. Technological advancements are driving the adoption of predictive maintenance and proactive solutions, minimizing downtime and reducing operational costs.

Key Drivers, Barriers & Challenges in Saudi Arabia Facility Management Market

Key Drivers:

Government initiatives promoting infrastructure development and economic diversification (e.g., Vision 2030).
Growing private sector driving demand for efficient facility management solutions.
Technological advancements leading to greater efficiency and cost optimization.

Challenges:

Competition: Intense competition among existing and new players. (Estimated XX new entrants per year)
Skills gap: Shortage of skilled professionals in the facility management sector.
Regulatory complexities: Navigating various local regulations and standards.

Emerging Opportunities in Saudi Arabia Facility Management Market

Green building technologies: Growing demand for sustainable facility management solutions.
Smart building technology integration: Adoption of IoT and AI-powered solutions to improve efficiency.
Specialized services: Expanding into niche areas such as healthcare, hospitality and data center management.

Growth Accelerators in the Saudi Arabia Facility Management Market Industry

The long-term growth of the Saudi Arabia facility management market is driven by Vision 2030's sustained focus on infrastructure development, urbanization, and private sector expansion. Technological breakthroughs in smart building solutions and sustainable practices further fuel market growth. Strategic partnerships between local and international companies are emerging, leveraging global expertise and local market knowledge. Market expansion into previously untapped sectors like renewable energy and healthcare creates additional opportunities.

Key Players Shaping the Saudi Arabia Facility Management Market Market

Saudi Binladin Group - Operation And Maintenance
Facilities Management Company (FMCO)
Zomco (ZAMIL Operations & Maintenance) (ZAMIL Group)
Olive Arabia Co Ltd
Nesma United Industries Co Ltd
Initial Saudi Group (Alesayi Holding )
Almajal G4S (Allied Universal)
Samama Holding Group
Jash Holding LLC
EMCOR Saudi Company Limited
El Seif Operation and Maintenance (ESOM)
Musanadah Facilities Management Company (Alturki Holding)
Al Yamama Company
Khidmah Saudi Arabia (Aldar Properties PJSC)
Al Suwaidi Holding Company KSA
Seder Services Co
ENGIE Solutions (Engie Group)
Enova Facilities Management Services LLC
Tamimi Group
SETE Energy Saudia for Industrial Projects Ltd (SETE Saudia)

Notable Milestones in Saudi Arabia Facility Management Market Sector

June 2024: National Building and Marketing Co. (NBM) secured a SAR 350 million (USD 93.33 million) contract for the Granada Riyadh Project, showcasing significant investment in infrastructure development.
January 2024: The Saudi Green Initiative's USD 186 billion allocation highlights the growing focus on sustainability and green building practices within the sector. This initiative alongside the PIF's investment of USD 35 Billion in 2023 signals strong government support.

In-Depth Saudi Arabia Facility Management Market Market Outlook

The Saudi Arabia facility management market is poised for continued robust growth, driven by long-term government investment in infrastructure and sustained economic diversification efforts under Vision 2030. The adoption of smart technologies and green building solutions will further enhance market expansion. Strategic partnerships and mergers & acquisitions will shape the competitive landscape, creating both opportunities and challenges for existing and new players. Untapped potential exists in niche sectors, offering significant growth opportunities for specialized service providers.

Saudi Arabia Facility Management Market Segmentation

1. Service Type
- 1.1. Hard Service
  - 1.1.1. Asset Management
  - 1.1.2. MEP and HVAC Services
  - 1.1.3. Fire Systems and Safety
  - 1.1.4. Other Hard FM Services
- 1.2. Soft Service
  - 1.2.1. Office Support and Security
  - 1.2.2. Cleaning Services
  - 1.2.3. Catering Services
  - 1.2.4. Other Soft FM Services
2. Offering Type
- 2.1. In-House
- 2.2. Outsourced
  - 2.2.1. Single FM
  - 2.2.2. Bundled FM
  - 2.2.3. Integrated FM
3. End-user Industry
- 3.1. Commercial, Retail, and Restaurants
- 3.2. Manufacturing And Industrial
- 3.3. Government, Infrastructure, And Public Entities
- 3.4. Institutional
- 3.5. Other End-user Industries

Saudi Arabia Facility Management Market Segmentation By Geography

1. Saudi Arabia

Saudi Arabia Facility Management Market Regional Share

Saudi Arabia Facility Management Market REPORT HIGHLIGHTS

Aspects	Details
Study Period	2019-2033
Base Year	2024
Estimated Year	2025
Forecast Period	2025-2033
Historical Period	2019-2024
Growth Rate	CAGR of 12.48% from 2019-2033
Segmentation	By Service Type Hard Service Asset Management MEP and HVAC Services Fire Systems and Safety Other Hard FM Services Soft Service Office Support and Security Cleaning Services Catering Services Other Soft FM Services By Offering Type In-House Outsourced Single FM Bundled FM Integrated FM By End-user Industry Commercial, Retail, and Restaurants Manufacturing And Industrial Government, Infrastructure, And Public Entities Institutional Other End-user Industries By Geography Saudi Arabia

1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
- 2.1. Introduction
3. Market Dynamics
- 3.1. Introduction
- - 3.2. Market Drivers
  - - 3.2.1. Infrastructure Development and Growing Real Estate Sector; Increasing Outsourcing Trend and Supporting Government Initiatives; Emphasis on Green and Sustainable Building Practices
- - 3.3. Market Restrains
  - - 3.3.1. ; High cost of development
- - 3.4. Market Trends
  - - 3.4.1. In-house Facility Management to be the Fastest-growing Type of FM
4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
5. Saudi Arabia Facility Management Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Service Type
  - 5.1.1. Hard Service
    - 5.1.1.1. Asset Management
    - 5.1.1.2. MEP and HVAC Services
    - 5.1.1.3. Fire Systems and Safety
    - 5.1.1.4. Other Hard FM Services
  - 5.1.2. Soft Service
    - 5.1.2.1. Office Support and Security
    - 5.1.2.2. Cleaning Services
    - 5.1.2.3. Catering Services
    - 5.1.2.4. Other Soft FM Services
- 5.2. Market Analysis, Insights and Forecast - by Offering Type
  - 5.2.1. In-House
  - 5.2.2. Outsourced
    - 5.2.2.1. Single FM
    - 5.2.2.2. Bundled FM
    - 5.2.2.3. Integrated FM
- 5.3. Market Analysis, Insights and Forecast - by End-user Industry
  - 5.3.1. Commercial, Retail, and Restaurants
  - 5.3.2. Manufacturing And Industrial
  - 5.3.3. Government, Infrastructure, And Public Entities
  - 5.3.4. Institutional
  - 5.3.5. Other End-user Industries
- 5.4. Market Analysis, Insights and Forecast - by Region
  - 5.4.1. Saudi Arabia
6. Central Saudi Arabia Facility Management Market Analysis, Insights and Forecast, 2019-2031
7. Eastern Saudi Arabia Facility Management Market Analysis, Insights and Forecast, 2019-2031
8. Western Saudi Arabia Facility Management Market Analysis, Insights and Forecast, 2019-2031
9. Southern Saudi Arabia Facility Management Market Analysis, Insights and Forecast, 2019-2031
10. Competitive Analysis
- 10.1. Market Share Analysis 2024
- - 10.2. Company Profiles
  - - 10.2.1 Saudi Binladin Group - Operation And Maintenance
      10.2.1.1. Overview
      10.2.1.2. Products
      10.2.1.3. SWOT Analysis
      10.2.1.4. Recent Developments
      10.2.1.5. Financials (Based on Availability)
    - 10.2.2 Facilities Management Company (FMCO)
      10.2.2.1. Overview
      10.2.2.2. Products
      10.2.2.3. SWOT Analysis
      10.2.2.4. Recent Developments
      10.2.2.5. Financials (Based on Availability)
    - 10.2.3 Zomco (ZAMIL Operations & Maintenance) (ZAMIL Group)
      10.2.3.1. Overview
      10.2.3.2. Products
      10.2.3.3. SWOT Analysis
      10.2.3.4. Recent Developments
      10.2.3.5. Financials (Based on Availability)
    - 10.2.4 Olive Arabia Co Ltd
      10.2.4.1. Overview
      10.2.4.2. Products
      10.2.4.3. SWOT Analysis
      10.2.4.4. Recent Developments
      10.2.4.5. Financials (Based on Availability)
    - 10.2.5 Nesma United Industries Co Ltd
      10.2.5.1. Overview
      10.2.5.2. Products
      10.2.5.3. SWOT Analysis
      10.2.5.4. Recent Developments
      10.2.5.5. Financials (Based on Availability)
    - 10.2.6 Initial Saudi Group (Alesayi Holding )
      10.2.6.1. Overview
      10.2.6.2. Products
      10.2.6.3. SWOT Analysis
      10.2.6.4. Recent Developments
      10.2.6.5. Financials (Based on Availability)
    - 10.2.7 Almajal G4S (Allied Universal)
      10.2.7.1. Overview
      10.2.7.2. Products
      10.2.7.3. SWOT Analysis
      10.2.7.4. Recent Developments
      10.2.7.5. Financials (Based on Availability)
    - 10.2.8 Samama Holding Group
      10.2.8.1. Overview
      10.2.8.2. Products
      10.2.8.3. SWOT Analysis
      10.2.8.4. Recent Developments
      10.2.8.5. Financials (Based on Availability)
    - 10.2.9 Jash Holding LLC
      10.2.9.1. Overview
      10.2.9.2. Products
      10.2.9.3. SWOT Analysis
      10.2.9.4. Recent Developments
      10.2.9.5. Financials (Based on Availability)
    - 10.2.10 EMCOR Saudi Company Limited
      10.2.10.1. Overview
      10.2.10.2. Products
      10.2.10.3. SWOT Analysis
      10.2.10.4. Recent Developments
      10.2.10.5. Financials (Based on Availability)
    - 10.2.11 El Seif Operation and Maintenance (ESOM
      10.2.11.1. Overview
      10.2.11.2. Products
      10.2.11.3. SWOT Analysis
      10.2.11.4. Recent Developments
      10.2.11.5. Financials (Based on Availability)
    - 10.2.12 Musanadah Facilities Management Company (Alturki Holding)
      10.2.12.1. Overview
      10.2.12.2. Products
      10.2.12.3. SWOT Analysis
      10.2.12.4. Recent Developments
      10.2.12.5. Financials (Based on Availability)
    - 10.2.13 Al Yamama Company
      10.2.13.1. Overview
      10.2.13.2. Products
      10.2.13.3. SWOT Analysis
      10.2.13.4. Recent Developments
      10.2.13.5. Financials (Based on Availability)
    - 10.2.14 Khidmah Saudi Arabia (Aldar Properties PJSC)
      10.2.14.1. Overview
      10.2.14.2. Products
      10.2.14.3. SWOT Analysis
      10.2.14.4. Recent Developments
      10.2.14.5. Financials (Based on Availability)
    - 10.2.15 Al Suwaidi Holding Company KSA
      10.2.15.1. Overview
      10.2.15.2. Products
      10.2.15.3. SWOT Analysis
      10.2.15.4. Recent Developments
      10.2.15.5. Financials (Based on Availability)
    - 10.2.16 Seder Services Co
      10.2.16.1. Overview
      10.2.16.2. Products
      10.2.16.3. SWOT Analysis
      10.2.16.4. Recent Developments
      10.2.16.5. Financials (Based on Availability)
    - 10.2.17 ENGIE Solutions (Engie Group)
      10.2.17.1. Overview
      10.2.17.2. Products
      10.2.17.3. SWOT Analysis
      10.2.17.4. Recent Developments
      10.2.17.5. Financials (Based on Availability)
    - 10.2.18 Enova Facilities Management Services LLC
      10.2.18.1. Overview
      10.2.18.2. Products
      10.2.18.3. SWOT Analysis
      10.2.18.4. Recent Developments
      10.2.18.5. Financials (Based on Availability)
    - 10.2.19 Tamimi Group
      10.2.19.1. Overview
      10.2.19.2. Products
      10.2.19.3. SWOT Analysis
      10.2.19.4. Recent Developments
      10.2.19.5. Financials (Based on Availability)
    - 10.2.20 SETE Energy Saudia for Industrial Projects Ltd (SETE Saudia)
      10.2.20.1. Overview
      10.2.20.2. Products
      10.2.20.3. SWOT Analysis
      10.2.20.4. Recent Developments
      10.2.20.5. Financials (Based on Availability)

List of Figures

Figure 1: Saudi Arabia Facility Management Market Revenue Breakdown (Million, %) by Product 2024 & 2032
Figure 2: Saudi Arabia Facility Management Market Share (%) by Company 2024

List of Tables

Table 1: Saudi Arabia Facility Management Market Revenue Million Forecast, by Region 2019 & 2032
Table 2: Saudi Arabia Facility Management Market Revenue Million Forecast, by Service Type 2019 & 2032
Table 3: Saudi Arabia Facility Management Market Revenue Million Forecast, by Offering Type 2019 & 2032
Table 4: Saudi Arabia Facility Management Market Revenue Million Forecast, by End-user Industry 2019 & 2032
Table 5: Saudi Arabia Facility Management Market Revenue Million Forecast, by Region 2019 & 2032
Table 6: Saudi Arabia Facility Management Market Revenue Million Forecast, by Country 2019 & 2032
Table 7: Central Saudi Arabia Facility Management Market Revenue (Million) Forecast, by Application 2019 & 2032
Table 8: Eastern Saudi Arabia Facility Management Market Revenue (Million) Forecast, by Application 2019 & 2032
Table 9: Western Saudi Arabia Facility Management Market Revenue (Million) Forecast, by Application 2019 & 2032
Table 10: Southern Saudi Arabia Facility Management Market Revenue (Million) Forecast, by Application 2019 & 2032
Table 11: Saudi Arabia Facility Management Market Revenue Million Forecast, by Service Type 2019 & 2032
Table 12: Saudi Arabia Facility Management Market Revenue Million Forecast, by Offering Type 2019 & 2032
Table 13: Saudi Arabia Facility Management Market Revenue Million Forecast, by End-user Industry 2019 & 2032
Table 14: Saudi Arabia Facility Management Market Revenue Million Forecast, by Country 2019 & 2032

Frequently Asked Questions

1. What is the projected Compound Annual Growth Rate (CAGR) of the Saudi Arabia Facility Management Market?

The projected CAGR is approximately 12.48%.

2. Which companies are prominent players in the Saudi Arabia Facility Management Market?

Key companies in the market include Saudi Binladin Group - Operation And Maintenance, Facilities Management Company (FMCO), Zomco (ZAMIL Operations & Maintenance) (ZAMIL Group), Olive Arabia Co Ltd, Nesma United Industries Co Ltd, Initial Saudi Group (Alesayi Holding ), Almajal G4S (Allied Universal), Samama Holding Group, Jash Holding LLC, EMCOR Saudi Company Limited, El Seif Operation and Maintenance (ESOM, Musanadah Facilities Management Company (Alturki Holding), Al Yamama Company, Khidmah Saudi Arabia (Aldar Properties PJSC), Al Suwaidi Holding Company KSA, Seder Services Co, ENGIE Solutions (Engie Group), Enova Facilities Management Services LLC, Tamimi Group, SETE Energy Saudia for Industrial Projects Ltd (SETE Saudia).

3. What are the main segments of the Saudi Arabia Facility Management Market?

The market segments include Service Type, Offering Type, End-user Industry.

4. Can you provide details about the market size?

The market size is estimated to be USD 27.58 Million as of 2022.

5. What are some drivers contributing to market growth?

Infrastructure Development and Growing Real Estate Sector; Increasing Outsourcing Trend and Supporting Government Initiatives; Emphasis on Green and Sustainable Building Practices.

6. What are the notable trends driving market growth?

In-house Facility Management to be the Fastest-growing Type of FM.

7. Are there any restraints impacting market growth?

; High cost of development.

8. Can you provide examples of recent developments in the market?

June 2024: National Building and Marketing Co. (NBM), based in Saudi Arabia, recently inked a significant deal valued at SAR 350 million (USD 93.33 million) with Al-Fayzia Real Estate Development Co. The contract, specifically for the 'Granada Riyadh Project,' entails NBM overseeing infrastructure and superstructure development. This includes constructing, finishing, and supplying all building materials, managing administrative tasks, and ensuring all services are in place for the project's investment readiness.

9. What pricing options are available for accessing the report?

Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3800, USD 4500, and USD 5800 respectively.

10. Is the market size provided in terms of value or volume?

The market size is provided in terms of value, measured in Million.

11. Are there any specific market keywords associated with the report?

Yes, the market keyword associated with the report is "Saudi Arabia Facility Management Market," which aids in identifying and referencing the specific market segment covered.

12. How do I determine which pricing option suits my needs best?

The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

13. Are there any additional resources or data provided in the Saudi Arabia Facility Management Market report?

While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.

14. How can I stay updated on further developments or reports in the Saudi Arabia Facility Management Market?

To stay informed about further developments, trends, and reports in the Saudi Arabia Facility Management Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.

Methodology

Step 1 - Identification of Relevant Samples Size from Population Database

Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.

Note*: In applicable scenarios

Step 3 - Data Sources

Primary Research

Web Analytics
Survey Reports
Research Institute
Latest Research Reports
Opinion Leaders

Secondary Research

Annual Reports
White Paper
Latest Press Release
Industry Association
Paid Database
Investor Presentations

Step 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.