Revenue for commercial and residential cleaning services is projected to advance 5.5% a year through 2009, reaching more than $60 billion, according to “Commercial & Residential Cleaning Services,” a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.
According to the report, growth will be driven by the continuing trend toward outsourcing noncore activities among businesses and by the growing number of consumers who have neither the time nor the inclination to do their own cleaning. Improvement in the overall economy will lead to a steady increase in nonresidential floor space and a projected acceleration in the growth of the number of business establishments. Both of these trends will increase the potential market for contract cleaning services, the study reports.
The institutional and office markets will remain the largest segments for cleaning services, together accounting for nearly 55% of revenues in 2009. However, these segments have a relatively high level of market maturity, which will limit growth somewhat. The residential market will continue to comprise nearly 18% of revenues in 2009. More info: www.freedoniagroup.com.