The global dry-cleaning and laundry service market at a CAGR of more than 4% during the forecast period

NEW YORK, June 24, 2019 /PRNewswire/ --

Global Dry-Cleaning and Laundry Services Market:

About this market

Read the full report: https://www.reportlinker.com/p05786741/?utm_source=PRN

Dry cleaning and laundry services provide textile cleaning services to the general public. Technavio's dry-cleaning and laundry services market considers the use of the service by commercial, residential, and coin-operated end-users. Our analysis also considers the growth of the market in APAC, Europe, MEA, North America, and South America. In 2018, the commercial segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the increasing demand for laundry services from healthcare will play a significant role in the commercial segment to maintain its market position. Also, our dry-cleaning and laundry services market looks into factors such as increasing labor force participation of women, the introduction of smart laundry technology, and cost-effectiveness and other benefits of laundry services. However, high capital investments, highly fragmented market, and stringent government regulations may hamper the growth of the dry-cleaning and laundry services industry over the forecast period.

Global Dry-Cleaning and Laundry Services Market:

Overview

Introduction of smart-laundry technology

The adoption of advanced technologies, such as IoT has simplified the laundry experience of customers. For instance, smart washing machines automatically analyze various input data such as load size and the type and decide the amount of detergent to be used for the process. Additionally, the integration of smart meters provides deep information about the key performance indicators in the entire washing process, such as the volume of detergents and time taken for a wash. These information helps increase productivity by optimizing the process. The advent of such smart technologies is driving the growth of the global dry-cleaning and laundry service market at a CAGR of more than 4% during the forecast period.

Sustained practices of laundry

The increasing social awareness about the available methods in the dry-cleaning and laundry services industry is encouraging customers to opt eco-friendly practices of laundry. Several vendors in the market are shifting their focus toward adopting sustainable practices in the process to save water, energy, and operational costs. For instance, several companies are using solvents disposal that complies with regulations set by the Environmental Protection Agency (EPA). Such sustainable practices adopted by the market vendors will have a positive impact on the market's growth.

For the detailed list of factors that will drive the global dry-cleaning and laundry services market size during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of a large number of players, the global dry-cleaning and laundry services market is highly fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several dry-cleaning and laundry services companies, that include CSC ServiceWorks, EVI Industries Inc., Huntington Cleaners & Shirt Laundry, Mulberrys LLC, Procter & Gamble Co., and Zipjet Ltd.

Also, the dry-cleaning and laundry services market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

Read the full report: https://www.reportlinker.com/p05786741/?utm_source=PRN

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