The global Contract Cleaning Services market size is expected to be worth around US$ 468.3 billion by 2027, according to a new report by Vision Research Reports.
The global Contract Cleaning Services market size was valued at US$ 292.5 billion in 2019 and is anticipated to grow at a CAGR of 6.2% during forecast period 2020 to 2027.
The increasing awareness about hygiene and safety at the workplace has encouraged business organizations worldwide to hire third-party cleaning service providers. Additionally, to ensure good health of the employees and consequently uplift their productivity, companies worldwide are increasingly availing green cleaning services from providers that use non-toxic and non-hazardous products for cleaning the premise. Thus, the growing inclination towards green products is further anticipated to boost the demand for cleaning services over the forecast period.
Technological advancements have led to the development of smart devices such as automatic floor cleaners that rely on (IoT), and robotic capabilities. These devices, which are mostly preferred by residential customers, perform basic cleaning tasks. However, the limited application and capabilities of these smart cleaning devices coupled with their inability to perform tasks is a major issue. As such, the imminent need to ensure clean surroundings and limit health issues is expected to boost demand for cleaning services over the forecast period.
In the wake of the ongoing COVID-19 pandemic, there has been an unprecedented surge in the adoption of contract cleaning services as businesses look to start on-premise operations after an ease in lockdown restrictions. The necessity to provide a hygienic working environment coupled with the need to comply with mandatory guidelines enacted by the governments of countries worldwide is having a positive impact on market demand. Due to the stringent mandates enacted, business organizations are actively working towards cleaning their premises at regular intervals to provide a safe workplace.
The floor and carpet cleaning segment accounted for more than 31.01% of the global revenue share in 2019. Floor and carpet cleaning is a very tedious and time-consuming task since the floor area is quite large in corporate office/ manufacturing facilities. Therefore, the amount charged by the service contractors for this service is higher as compared to other services such as upholstery and window cleaning. On the other hand, the cost of these services does vary depending upon factors such as time, area, frequency, and complexity, among others. Moreover, floor cleansing is a pre-requisite for any commercial and industrial establishment and is therefore mostly outsourced to skilled contractors.
The commercial segment accounted for the largest share in the market, accounting for over 50.01% of the revenue share in 2019. The commercial sector, which primarily includes office buildings, invests significantly in keeping the premise clean and sanitized. Furthermore, the revival of the construction and real estate sector after a brief period of a lull during the first half of this decade, and the resulting rise in the number of commercial buildings, is the key factor for the high share of this segment. Other commercial establishments such as healthcare/medical facilities, educational institutions, hotels and restaurants, and retail outlets mostly prefer outsourcing the essential cleansing operations, thereby enabling employees and the management to focus primarily on the core business operations. Thus, the commercial sector is anticipated to offer immense growth opportunities for the service providers during and post-pandemic period.
Asia Pacific is anticipated to witness the highest growth followed by Europe, registering a CAGR of 7.6% and 6.6% respectively during the forecast period. The growing number of under-construction units, which requisites regular clean-up for proper management of the site, is one of the key factors driving the growth of the regional market. Moreover, investments made by the government towards infrastructure development have led to a steep rise in the number of new commercial spaces in the region over the last few years. This, in turn, is expected to increase the adoption of cleaning services including floor, window, and upholstery cleaning among others. Asia Pacific is among the worst-hit coronavirus regions with high population density, which is having a positive impact on regional market growth.
ABM Industries Incorporated
Jani-King International Inc.
ISS Facility Services, Inc.
Mitie Group plc.
Pritchard Industries Inc.
Vanguard Cleaning Systems Inc.
Stanley Steemer International Inc.
Cleaning Services Group, Inc.
The ServiceMaster Company, LLC
Service Type Outlook
Floor & Carpet Cleaning
Healthcare & Medical Facilities
Hotels & Restaurants
Middle East & Africa
The Contract Cleaning Services market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Contract Cleaning Services market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Contract Cleaning Services market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Contract Cleaning Services market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Contract Cleaning Services market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Contract Cleaning Services capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Contract Cleaning Services by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Contract Cleaning Services market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Contract Cleaning Services market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Contract Cleaning Services market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Contract Cleaning Services industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Contract Cleaning Services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Contract Cleaning Services market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Contract Cleaning Services market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Contract Cleaning Services market. These factors have benefited the growth of the global market for Contract Cleaning Services. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Contract Cleaning Services. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Contract Cleaning Services are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Metaverse Market (By Product: Hardware Software, Services; By Platform: Desktop, Mobile, Headsets; By Technology: Blockchain, VR & AR, MR; By Offering: Virtual Platforms, Asset Marketplaces, Avatars, Financial Services; By Application, By End Use) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030Read more...
Core Banking Software Market (By Solution: Deposits, Loans, Enterprise Customer Solutions; By Service: Professional Service, Managed Service; By Deployment: Cloud, On-premise; By End-use: Banks, Financial Institutions) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030Read more...
Payment Gateway Market (By Type: Hosted, Non-hosted; By Enterprise Size: Large Enterprises, Small & Medium Enterprises; By End-use: BFSI, Media & Entertainment, Retail & E-commerce, Travel & Hospitality) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030Read more...
Smart Pole Market (By Component: Hardware, Software, Service; By Hardware: Lighting Lamp, Pole Bracket & Pole Body, Communication Device, Controller; By Installation Type: New Installation, Retrofit Installation; By Application: Highways & Roadways, Public Places, Railways & Harbors) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030Read more...
Mobile Payment Market (By Technology: Near Field Communication, Direct Mobile Billing, Mobile Web Payment, SMS, Interactive Voice Response System, Mobile App; By Payment Type: B2B, B2C, B2G; By Location: Remote Payment, Proximity Payment; By End-use: BFSI, Healthcare, IT & Telecom, Media & Entertainment, Retail & E-commerce, Transportation) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030Read more...