Janitorial Services Market Rising at Modest Growth Rate
Published On : Feb 09, 2015
The highly important but grimly disregarded industry of janitorial services is a critical service provider to both domestic and commercial setups. Changing lifestyles and shifting demographics across the globe have driven a huge surge in residential building cleaning services. Steady economic growth and rising industrialization in developing countries has pushed the index of construction of new commercial complexes in these regions much higher than before.
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The addition of this new pool of commercial complexes to the already enormous pool of commercial complexes in developed countries has made outsourcing of cleaning and maintenance work a necessity. In addition to this, busy lifestyles have led to the inclination of outsourcing housecleaning services on a household basis.
Janitorial services, also commonly called cleaning services, have thus become an important service sector across the globe. However, janitorial services are not always given the credit they deserve for helping us keep our surroundings clean and taking up jobs that may be considered degrading or too dirty for commoners. However, this industry still has some significant upsides over most other businesses and industries: the depth and variety of opportunities, profitable and quick returns with little investment, and the flexibility of operating on part- or full-time basis.
Commercial Sector Leads Demand for Janitorial Services
The janitorial services market serves two primary market segments: commercial and residential. The residential market arena comprises services such as maid services, window cleaning, carpet cleaning, and a variety of other cleaning services required on an irregular basis. To the commercial circuit, the janitorial services market provides a wider range of services than maid services and window and carpet cleaning services. In the commercial sector, the janitorial services’ industry targets businesses rather than individual clients.
Quite obviously, the janitorial services’ market earns a major portion of its revenues from the commercial market sector due to the huge amount of work opportunities in the segment. However, the heavy reliance of this market upon the real estate industry had it suffer a downturn during the global economic depression of 2008-2009. Since then, the market has treaded along a rather slow growth path. Future growth prospects are also moderate for the market, but easy, quick and profitable returns make this a viable market for businesses who dread to invest significant amount of time or money for operations and services, and for people who just want enough work to earn a decent living.
The global janitorial services market employs a vast pool of workers and is a multibillion dollar market. In the U.S. alone, it employs more than 5 million building cleaning workers, according to Bureau of Labor statistics.
Global janitorial Service Market: Competitive Landscape
Though the marketplace may seem flooded with more than the necessary number of janitorial services in any region, the fact is that demand for cleaning services is tremendous in any corner of the globe. There are a number of janitorial services that have waiting lists for their clients because they are not able to serve the rising demands. Many carpet cleaning and specialized cleaning services operate on a part-time basis, and thus the market does not feature serious competition to new entrants.
There are still global companies such as ServiceMaster and ABM Industries that are widely renowned for their specialized janitorial services. Currently, these two companies have a combined share of nearly 35% of the global janitorial services market. The market also favors companies that operate with innovative technological cleaning devices for improved efficiency and safe operations. Thus opportunities are even better for companies that adopt new and more effective ways of cleaning.
Some of the key businesses operating in the global marketplace of janitorial services include Jani-King International, Anago Cleaning Systems, ServiceMaster, Aramark, ABM Industries, BONUS Building Care, Red Coats, Coverall, Pritchard Industries, UGL Unicco Services, Sodexo, Stanley Steemer, Jan-Pro International, Vanguard Cleaning Systems, CleanNet USA, and Chem-Dry, among others.
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