The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

 

 

The services to buildings and dwellings market has exhibited robust growth, escalating from $1,033.43 billion in 2023 to $1,136.04 billion in 2024, marking a significant Compound Annual Growth Rate (CAGR) of 9.9%. The growth in recent years can be attributed to a construction and real estate boom, urbanization, population growth, and increased property ownership.

 

 

Historic Drivers of Growth

• Construction and Real Estate Boom: A surge in building projects and real estate development.
• Urbanization: Increasing urban dwellings drive demand for building services.
• Population Growth: Growing populations necessitate expanded building and dwelling services.
• Property Ownership: Rise in property ownership fuels demand for maintenance and related services.

 

 

Future Growth Projections

Anticipating continued expansion, the market is poised to reach $1,639.23 billion by 2028, with a projected CAGR of 9.6%. The forecasted growth is fueled by key factors such as sustainability and energy efficiency, technology integration, the need for infrastructure updates, and the paradigm shift towards remote work and telecommuting.

 

 

Forecast Period Dynamics

• Sustainability and Energy Efficiency: Growing focus on eco-friendly practices and energy-efficient solutions.
• Technology Integration: Embracing technology to enhance service delivery.
• Aging Infrastructure: Increasing demand for maintenance and renovation of existing structures.
• Remote Work and Telecommuting: Shifting work dynamics influencing service requirements.

 

 

Emerging Trends

In the forecast period, several trends are shaping the services to buildings and dwellings market, introducing innovative approaches and transformative practices.

• Smart Building Technologies: Integration of technology for efficient building management.
• Aging Infrastructure and Renovation: Addressing the maintenance needs of existing structures.
• Green Building Practices: A focus on environmentally sustainable construction and maintenance.
• Property Technology (PropTech): Utilizing technology to streamline property management processes.

 

 

View More On The Services to Buildings And Dwellings Market Report 2024- https://www.thebusinessresearchcompany.com/report/services-to-buildings-and-dwellings-global-market-report

 

 

The Role of the Growing Construction Industry

The services to buildings and dwellings market is intricately linked with the construction industry, serving as a vital support system for ongoing construction projects. With the construction industry witnessing a significant upswing, the services market is expected to ride the wave of this growth. For example, in October 2023, the U.S. Census Bureau projected a 0.5% increase in construction expenditures, reaching $1,983.5 billion. This surge indicates the pivotal role of the growing construction sector in driving the services market forward.

 

 

Key Players

Major companies influencing the services to buildings and dwellings market include industry leaders such as ABM Industries Inc., Rentokil Initial PLC, BrightView Holdings Inc., and a multitude of others. These companies play a crucial role in providing a range of services, from janitorial and landscaping to pest control and facility management.

 

 

Formation of Alliances for Positive Change

In an effort to drive positive change and promote innovation, major associations within the services to buildings and dwellings market are forming alliances. These alliances bring together diverse expertise and resources to address industry challenges and create a safer, more sustainable environment. One notable example is Actuate UK, launched in February 2021, which represents a collaborative effort among engineering membership associations in the United Kingdom. This alliance seeks to be an agent for positive change in the construction industry.

 

 

Market Segmentation

The services to buildings and dwellings market is segmented based on type, mode, and application, providing a comprehensive view of the diverse services offered to meet various needs.

1. Type:
   • Exterminating And Pest Control Services
   • Janitorial Services
   • Landscaping Services
   • Carpet And Upholstery Cleaning Services
   • Other Services to Buildings And Dwellings
2. Mode:
   • Online
   • Offline
3. Application:
   • Commercial
   • Industrial
   • Governmental
   • Institutional
   • Residential
   • Municipal

 

Regional Dominance

In 2023, North America emerged as the largest region in the services to buildings and dwellings market. This regional leadership underscores the significant impact and demand for building services in North America.

 

 

Request A Sample Of The Global Services to Buildings And Dwellings Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=2231&type=smp

 

 

The Services to Buildings And Dwellings Global Market Report 2024  provides comprehensive insights on the services to buildings and dwellings market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the services to buildings and dwellings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

 

View More Related Reports –

Services For The Elderly And Persons With Disabilities Global Market Report 2023

Business Support Services Global Market Report 2023

Commercial Services Global Market Report 2023

 

 

Learn More About The Business Research Company
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

 

 

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

 

 

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: