The latest study by Fact.MR assumes that the market for termite control services will continue to be sluggish in 2018 with sales growth of just under 165 million USD compared to 2017. Bringing together various aspects ranging from the shift to contracted termite control services and their use of semiochemicals as an environmentally friendly alternative to pesticides should support the growth of the termite control service market.
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The report assumes that the demand for contracted termite control services has grown rapidly in recent years compared to the decline in outstanding ad hoc services. Revenue from contracted termite control services will increase threefold that of ad hoc services by 2027. The rapid increase in contracted services is aided by the fact that stringent legal requirements are requiring key industries, including food and beverages, to enter into pest control contracts, apropos product hygiene.
According to a new Fact.MR study, the market for termite control services remains marginally concentrated and marginally fragmented. Emerging gamers, which include a cohort of local termite control service providers, continue to track bulk revenue shares, while Tier 1 players collectively account for nearly a quarter of revenue shares. Emerging companies like Massey Services Inc. and Porch.com Inc. continue to focus in the termite control services market on providing specific service offerings and competitive pricing to drive revenue. On the other hand, the focus of Tier 1 players like Rentokil Initial Plc and Rollins Inc. continues to focus on market consolidation through the acquisition of local players.
Organic termite control services have proven to be a viable alternative to chemical counterparts for end users worldwide that dispel environmental and health concerns. The report says revenues from organic termite control services will grow twice as much as revenues from chemical services by 2027
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rol services has remained undeniable, and the status quo is likely to endure for the foreseeable future.
“Competitors in the termite control services market include providers for a range of industry applications ranging from facility services to lawn care. Large multidisciplinary companies in the termite control services market offer termite control as part of their service portfolio, attracting commercial customers who prefer contractual services. In addition, key customers, especially residential customers, are more likely to do-it-yourself termite control (DIY) to save on spending, even though they lack access to commercial strength pesticides and have less technical expertise. This remains a major growth deterrent for the termite control services market, ”says a senior analyst at Fact.MR.
Leading companies in the termite control services market also invest heavily in information systems and technology to support day-to-day operations. Termite control service entrants investing in programs to automate payables, accounts receivable, billing, and invoicing are likely to offer more effective services and see promising growth in the years to come. The major players in the Termite Control Services market are focused on the introduction of handheld devices and software programs to manage routing and scheduling to optimize technician productivity.
An important trend in the termite control services market is the increasing penetration of insurance-based services to avoid cost risks, especially for commercial customers. Significant investments include termite control services for commercial and industrial end users as standard insurance policies do not include destruction costs. The proliferation of such specialized insurance policies will likely allow customers to control their spending while having access to reliable termite control service providers. The increasing tactility of connected termite control services is another important trend influencing the development of demand in the termite control service market.
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