Global Cleaning Services Market Size to be $88.9 Billion by 2025, Says Beroe Inc
Source: PR Newswire
RALEIGH, North Carolina, Apr 20, 2021 - The cleaning industry market is expected to see an upward trend in the times to come, thanks to a consistent demand for various commercial cleaning services, says Beroe Inc.
The global cleaning services market size stood at $60.25 billion in 2019, and the cleaning sector is expected to grow at a CAGR of 6.3 percent to $88.9 billion by 2025. KPIs in the cleaning services industry include on-site management resources, skill training records, staff appearance and conduct, and customer service (communications). High market maturity regions are U.S., UK, Australia, Germany, France, Spain, and New Zealand. On the other hand, medium market maturity regions include UAE, Saudi Arabia, Qatar, Singapore, Canada, and Eastern Europe.
Beroe, which is based in North Carolina, further stated that procurement experts can access this report on its recently launched market intelligence platform Beroe
The pandemic has a notable impact on cleaning services and the home cleaning industry in general. In many countries like the U.S., the demand for cleaning services has witnessed an unusual surge, which has led to a spike in the price of the services. The cleaning administration's labor force is in dread and hazard of sickness transmission. Henceforth they would entreat higher pay than the standard rates sought after businesses, for example, pharma and assembling areas. The demand for Deep Cleaning is rising in the worst pandemic-affected countries like India and Brazil. The buyers require urgent cleaning of their houses and offices to stay safe This has led to an increase in the residential cleaning market size.
Such staggering demand for cleaning services causes an overburden, leading to a demand and supply gap. The cleaning industry trends report of service industry analysis shows that the cleaning industry has ripened in tandem with other FM services in Europe and the U.S. In developing countries, the trends related to bundling, outsourcing, and value-based approaches have merged in recent times. The growing necessity to establish a cleaner workplace because of the COVID-19 alongside sticking to the natural and administrative compliances get additionally expected to impel the market development.
Market segmentation for cleaning services shows that the industry's largest cleaning companies have embraced the method of partnership and acquisition to amplify their market share. Window cleaning industry statistics confer the expansion of the window cleaning market rapidly due to the growth in construction and real-estate businesses. The cleaning service industry growth is projected to be 7 percent from 2016 to 2026.
Cleaning industry statistics highlight some industry drivers and constraints like due to the high inflation rates in developing countries, demand for a high wage has also risen. Such high labor costs are a matter of concern as they push costs in a direct proportion. Businesses should focus on green cleaning products as they will be a game-changer in the future.
In the cleaning industry, labor cost renders 80 percent of total operational costs. Most of the workers are immigrants, and regulations associated with these workers can directly impact the cleaning services market.
North America's market share is $17.578 billion in the regional market outlook, which is expected to grow at 3-4 percent annually. Europe stands at $19.778 billion with an annual growth rate of around 3 to 4 percent. MEA's estimated market size is $3.928 billion with a 4-5 percent growth rate annually, and APAC stands at $14.978 billion with a 5-6 percent growth rate. Lastly, LATAM is at $3.988 billion with an annual growth rate of 5–6 percent.
- The global cleaning industry still holds a profitable business in the future. Due to COVID, people have become more hygienic and raised their need to work in a safe and clean environment.
- Vacancy rates have a direct influence on obtaining cleaning services for commercial areas. As rates are falling, giving leverage to the cleaning services industry.
- Even in such rough global economic conditions, outsourcing cleaning services is still a favored model juxtaposed to other methodologies.
- The labor cost will continue to rise in the future due to the growing health concerns of organizations and households.
The report from Beroe includes:
- Market Analysis
- Market Monitoring Insights
- End-User Industry Updates
- Procurement best practices
- Impact of COVID-19 on commercial services
- Regional market outlook
About Beroe Inc
Beroe is the world's leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions—leading to lower costs, greater profits, and reduced risk. Beroe has been providing these services for more than 15 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies. For more information about Beroe Inc., please visit https://www.beroeinc.com/.