Report: Contract Cleaning Services Market Growing
The global contract cleaning services market size is expected to reach $468.2 billion by 2027, registering a compound annual growth of 6.1 percent from 2020 to 2027, according to a press release highlighting a new report by Grand View Research, Inc.
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.
Key suggestions from the report:
• The market is majorly driven by the growing need to provide a clean and safe workplace and thereby improve employee productivity.
• The floor and carpet cleaning segment held the largest share in 2019. The primary reason for the high share of this segment is the fact that this is the most sought-after service by the commercial and industrial end-users, as cleaning large areas covered by the floor is a tedious and time-consuming task.
• The commercial end-use segment accounted for the largest revenue share of over 50 percent in 2019. This is majorly attributable to the relatively greater adoption of cleaning services among commercial establishments such as hotels, hospitals, retail outlets, among several others.
• Corporate offices held the largest revenue share in the market in 2019. Improving employee productivity and ensuring employee safety are the primary reasons for the high share of this segment.
• The Asia Pacific region is anticipated to register the fastest growth in the contract cleaning services market over the forecast period. Increased construction activity coupled with the growing trend to outsource cleaning services is expected to propel the regional growth.