USD 30.25 billion
Report ID:
SQMIG25S2024 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
64
|Figures:
81
Janitorial Service Market size was valued at USD 30.25 billion in 2019 and is poised to grow from USD 31.15 billion in 2023 to USD 40.26 billion by 2031, growing at a CAGR of 2.91% in the forecast period (2024-2031).
Janitorial services, also known as cleaning services, are frequently used to keep workplaces free of dust and provide a clean, healthy environment. In institutions including corporate buildings, educational facilities, hospitals, hotels, retail stores, and commercial & residential structures, cleaning is one of the most outsourced services. Janitorial services, which include floor polishing, cleaning, trash pickup, and window washing, cover both interior and outdoor cleaning tasks.
The market for janitorial services depends heavily on the expansion of the real estate sector because it requires a large number of workers. Due to its dependency on the real estate industry, the janitorial services business experienced a fall in growth during the economic downturn that followed 2008.
The market's growth experienced a severe decline as a result of the failure of various mortgage obligations. However, the establishment of longer-term contracts by various government agencies and commercial organizations to clean facilities is anticipated to boost the growth of the janitorial services market.
In the current business climate, proper sanitation of your business or facility is increasingly vital to the success of your business. Increased demands on staff to keep premises constantly sanitized can be draining both on their morale, as well as pulling them from other duties. By hiring a commercial cleaning service to clean your facility you are demonstrating to your clients, as well as your employees, that you care about their well-being. Hiring a janitorial cleaners to assist in keeping your premises clean, hygienic, and spotless will result in your clients and employees feeling more at ease. Clean and tidy environments make people feel calmer and more comfortable. If employees feel positive about their surroundings, they can be more focused and efficient. When customers visit a business that is tidy and well-kept they are much more likely to become repeat visitors.
Due to COVID-19-related closures and lost business, Market data predicts that industry receipts fell by 1.6 percent in 2019, to a total of $117.3 billion. The recovery began in 2019, therefore the recession is anticipated to be severe but brief.
The Coronavirus outbreak will encourage the growth of large and mid-sized cleaning providers, including firms that specialize in catastrophe rehabilitation. Following the infection, more facilities will require "deep cleaning," and building managers will presumably boost cleaning frequency to stop further breakouts. Many small or highly leveraged enterprises may close their doors as a result of COVID-19, which might completely reshape the industry.
US Janitorial Service Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 30.25 billion
Largest Segment
Commercial
Fastest Growth
Commercial
Growth Rate
2.91% CAGR
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The global janitorial service market has been segmented based on application, end-user, and region. Based on application, the janitorial service market is segmented into commercial and residential. Based on the end-user, the market is segmented into standard cleaning, floor care services, damage restoration cleaning, exterior window cleaning, and others. Based on region, the janitorial service market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Janitorial Service Market Analysis by Application
The commercial segment led the janitorial service market in terms of sales, holding a share of 90.3 percent. The commercial sector is experiencing a rise in demand for cleaning services as a result of expanding business activity and decreasing vacant space. The primary users driving demand are the healthcare industry, office space, and retail businesses. The next largest users in this market are private educational institutions, federal, state, and local government buildings, and not-for-profit organizations.
From 2022 to 2028, the residential sector is anticipated to grow at a CAGR of 3.6 percent. High net worth individuals are a primary force behind the need for janitorial services in the residential sector. According to the World Ultra Wealth Report, 226,450 people with a net worth of at least $30 million are a significant contributing element to residential segment growth.
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North America dominated the global janitorial service market with a share of 27.8%. The presence of foreign businesses and greater adoption in the area are driving the market's expansion. In addition, there is a growing market need for green remedies. Investments in LEED projects combined with regular janitorial upkeep, according to the White House Office of Management and Budget, can help firms save over $18 billion throughout a project. Demand in the area is increasing as a result. Due to the existence of significant corporations and the high demand for workplace wellness and cleanliness, the U.S. continues to be the largest stakeholder.
From 2022 to 2028, Asia Pacific is anticipated to grow at the fastest CAGR of 4.3 %. Growing commercial building activities in Asia Pacific's developing nations are anticipated to have a beneficial impact on the janitorial service market expansion. The demand for janitorial services in the area is being driven by the expanding co-working trend, an increase in startups, and more foreign investment in the area.
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Janitorial Service Market Driver
Janitorial Service Market Restraint
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No one company controls more than 6% of the commercial cleaning sector, which is extremely fragmented. Franchises make up 10% of the market, while locally owned businesses make up 90%. Franchises can achieve economies of scale through centralized operations, nationwide marketing initiatives, and to some extent bulk discounts from suppliers.
Customers choose cleaning companies based on a variety of factors, including reputation, cost, and scope of services provided. Smaller businesses place more significance on price while larger companies place more value on the depth of offerings.
To manage cleaning services effectively, industry leaders are investing heavily in R&D efforts and implementing technologies like IoT and other IT systems and solutions. Shortly, this aspect is anticipated to propel the growth of the worldwide janitorial services market. This will significantly raise their OPEX, which will ultimately be handled by the client through increased janitorial services market procurement costs. These R&D operations are assisting in the development of brand-new cleaning tools that are very efficient and meet the rising demand for cleaning services across numerous sectors.
Top Players in the Global Janitorial Service Market
Janitorial Service Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, of application, the commercial segment dominated the global janitorial service market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, North America dominated the global janitorial service market owing to the region's presence of foreign businesses and greater adoption.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 30.25 billion |
Market size value in 2031 | USD 40.26 billion |
Growth Rate | 2.91% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
Janitorial Service Market Recent Development
|
Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Janitorial Service Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Janitorial Service Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Janitorial Service Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Janitorial Service Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Janitorial Service Market size was valued at USD 30.25 billion in 2019 and is poised to grow from USD 31.15 billion in 2023 to USD 40.26 billion by 2031, growing at a CAGR of 2.91% in the forecast period (2024-2031).
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Report ID: SQMIG25S2024
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