Termite Control Services Market to Witness Exponential Growth by 2027

Posted by faisal on October 14th, 2019

Termite control services market is highly fragmented with presence of a large number of local and regional players who hold sway in a particular state or city. Established players in the termite control services market are in constant seek for entering into strategic partnerships or merger & acquisition activities with the regional competitors, to capitalize on their service-specific offerings, thereby expanding their customer base and global footprint alike.

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Semiochemicals Gain Momentum as Efficacious IPM Strategy in Termite Control

Advancements in strategies of integrated pest management (IPM) have observed significant escalations, upheld particularly by contribution of chemical ecology. Public demand and environmental concerns associated with use of toxic pesticides and insecticides for managements of pests, such as termites, have led to development of sustainable alternatives such as “semiochemicals” – a novel discovery of chemical ecology. Semiochemicals currently seek extensive adoption in pest management as sex pheromones, thereby attracting more and more termite control services providers to inculcate the technique. Relative specificity, low toxicity and greater potency of semiochemicals are key attributes that have proliferated their demand in termite control services, as eco-friendly alternatives to pesticides and insecticides. Currently, semiochemicals-based termite control services are offered as pheromone lures and traps for monitoring reasons, meanwhile being leveraged for the development of mating disruption techniques.

Termite Control Services Providers Entering the “Smart Era”

Termite control services providers are increasingly embracing adoption of smart techniques, which prevent costly infestations through sustainable solutions. Constant monitoring and instant reactive steps offered by such smart techniques has become a new focus area for termite control services providers to adopt. Providers who emphasize on the provision of intelligent, digital process-based termite control services, which facilitate detection of blind spots and around-the-clock surveillance, are likely to witness promising growth prospects in the foreseeable future. IoT and artificial intelligence are also witnessed to have gradually permeated the area of termite control services, with connected devices and sensors simplifying trapping processes, along with the provision of real-time monitoring and notifications. Anticimex’s SMART digital trap is a prime example of such an IoT development in termite control services. Additionally, advanced termite control services include use of camera-equipped drones that offer a bird’s eye view of termite issues, emerging not only as safer option for service providers but also optimizing the processes and cutting-down manpower costs in the long-run.

The report opines that demand for contracted termite control services spiraled up rapidly in recent years, compared to the declined trajectory of preeminent ad-hoc services. Revenues from contracted termite control services will grow over 3X than those from ad-hoc through 2027. Rapid rise of contracted services is backed by the fact that key industries, including food & beverage, are required to hold pest control contracts owing to strict legislative requirements apropos of product hygiene.

Termite control services market continues to remain concentrated at the brim and fragmented at the brink, according to a new Fact.MR study. Emerging players, which include a cohort of local termite control services providers, continue to grasp bulk revenue shares, while Tier 1 players collectively account for nearly one-fourth revenue share. Focus of emerging players, such as Massey Services Inc. and Porch.com Inc., in termite control services market remains inclined toward specific service offerings and competitive pricing to bolster sales. On the other hand, emphasis of Tier 1 players, such as Rentokil Initial Plc and Rollins Inc., remains concentrated toward market consolidation through acquisition of local players.

Organic termite control services have emerged as a viable alternative to chemical counterparts for end-users worldwide, depriving environment and health concerns apropos of the latter. The report envisages revenues from organic termite control services to increase at 2X rate than those from chemical services through 2027. However, value share of chemical termite control services has remained incontestable, and the status quo is pegged to prevail in the foreseeable future.

A key trend observed in the termite control services market is growing permeation of insurance-based services, in a bid to prevent risks associated with costs, particularly for commercial customers. Considerable investment entails termite control services for commercial and industrial end-users, as standard insurance policies are exclusive of extermination costs. Growing penetration of such specialized insurance policies is likely to enable customers in controlling their expenses, meanwhile gaining access to reliable termite control services providers. Growing palpability of connected termite control services is another key trend impacting demand trends in the termite control services market.