The global pest control services market is expected to post a CAGR of more than 5% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global pest control services market is the growing hospitality, pharmaceutical, and food processing industries. The demand for pest control services is growing significantly from these industries, mainly because they have to adhere to stringent health and safety regulations. With the tourism industry growing rapidly across the world, there is a high demand for safe and hygienic stays. Thus, major hotels are partnering with leading pest control providers for the extermination of pests to avoid the damage of brand reputation due to pest infestation. Pests have also become a major concern for pharmaceutical companies, as they contaminate the products, raw ingredients, medicines, and medical devices, which results in production losses. Hence, pharmaceutical manufacturers are also partnering with pest control service providers to eradicate pests and termites. Furthermore, as the food processing industry demands the most stringent standards of quality and hygiene, removing pests such as cockroaches, rodents, flies, and stored product pests is vital, resulting in the high demand for pest control services.
As per Technavio, the increase in deployment of digital pest control services will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global pest control services market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global pest control services market: Increase in deployment of digital pest control services
The pest control services market has been witnessing various technological advances over the past few years. There is an increase in the adoption of more sophisticated methods of prevention and protection from pests. This shift can be attributed to the increase in demand for non-toxic, sustainable solutions required due to rising new regulations, and increased focus on sustainability in society at large. Digital pest control uses smartphones, mobile connectivity, sensors, cloud storage, data analytics, and apps to deliver new levels of pest control effectiveness, speed of response, insight, and productivity. The shift toward digitalization of pest control services represents substantial opportunities for innovation, both in terms of reducing harmful environmental impact and improving the quality of service.
Apart from the increase in deployment of digital pest control services, factors such as the growth in emerging markets, increasing market consolidation between vendors through mergers and acquisitions, and rising demand for insurance-based pest control services will have a significant impact on the growth of the pest control services market during the forecast period, says an analyst at Technavio.
Global pest control services market: Segmentation analysis
This market research report segments the global pest control services market by end-user (residential and commercial) and geographic regions (North America, APAC, Europe, South America, and MEA).
The North American region led the market in 2018, followed by Europe, APAC, South America and MEA respectively. The market growth in North America can be attributed to the implementaion of strict environmental regulations, decreasing demand for toxic solutions, and less tolerance for pests and increasing preference towards pest control services in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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