A report from market research firm Fact.MR predicts that the global market for home cleaning services will reach US$13.9 billion by 2033, expanding at a 6.5% compound annual growth rate (CAGR) in the next decade.
According to Fact.MR’s report, the growth will be spurred by increased urbanization. City dwellers typically have higher disposable incomes which, coupled with busy lifestyles, make them more likely to hire a home cleaning service. The floor cleaning category in particular is expected to have a 34% market share in 2023 and is forecasted to lead the global market from 2023 to 2033. Geographically, the study predicts the North American region will have a 30% market share by 2033.
“The increasing awareness and promotion on hygiene awareness and growing demand for cleaning equipment in household activities are the major factors that are anticipated to augment the growth of the home cleaning services market during the forecast period,” said a Fact.MR analyst.