Franchise Market size to increase by USD 1,634.71 billion during 2022-2027, Increasing construction activities to drive the growth - Technavio
Thursday, October 19, 2023
NEW YORK, Oct. 12, 2023 /PRNewswire/ -- The franchise market size is expected to grow by USD 1,634.71 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 9.58% during the forecast period. The market is segmented by Type (Business format franchise, Product distribution franchise, Management franchise, and Others ), Application (Hotels, Convenience stores, Real estate, Car rental and dealers, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). The increasing construction activities drive the franchise market. The rapid industrialization and urbanization in emerging economies drive the construction industry. Furthermore, various countries are also investing heavily in non-residential spaces. Consequently, the construction industry is expected to witness significant growth, which in turn will boost the demand for real estate franchises and fuel the growth of the global franchise market during the forecast period. The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
Key Highlights:
-- The report recognizes the following as some of the key players in the
franchise market: Ace Hardware Corp., Century 21 Real Estate LLC, Chick
fil A Inc., Circle K, Jersey Mikes Franchise Systems Inc., JUBILANT
FOODWORKS LTD., Kumon Institute of Education Co. Ltd., Marriott
International Inc., Mathnasium LLC, McDonald Corp., Papa Johns
International Inc., RE MAX Holdings Inc., Restaurant Brands
International Inc., Seven and i Holdings Co. Ltd., SPC Group, The Wendys
Co., United Parcel Service Inc., Wild Birds Unlimited Inc., Winmark
Corp., and YUM Brands Inc.
-- Franchise Market is fragmented in nature.
-- Market to observe 8.92% YOY growth in 2023.
Market Dynamics:
Trend
-- The innovation in in-store retailing is an emerging franchise market
trend.
-- The service personalization for customers is supported by the
digitization of in-store retail.
-- Furthermore, supermarket chains and hypermarkets compete with online
subscription models offered by e-commerce companies in order to allow
customers to hoard on multiple purchases.
Challenge
-- The high pressure to maintain brand consistency and quality challenges
the franchise market.
-- The presence in multiple regional, national, and global locations may
challenge franchise businesses in maintaining brand consistency.
-- The growth in employee turnover exacerbates other problems within the
business, such as raised operating costs and reduced customer
satisfaction, as experienced employees no longer have to be replaced by
less qualified employees.
The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a FREE PDF Sample
Keg Segments:
By type, the business format franchise segment is significant during the forecast period. The franchisor provides the franchisee with a complete operating system in this business model. Additionally, they also provide the trade name, product, and service. Another crucial thing is to note that business model franchisees are often prohibited from selling unapproved products and are often required to sell some (or all) of the franchisor's goods or services. Get a glance at the market contribution of the segments, Request a Sample
Related Reports:
The China - Enterprise Resource Planning (ERP) Market size is estimated to grow at a CAGR of 10.15% between 2022 and 2027. The market size is forecast to increase by USD 2,960.34 million.
The Customer Relationship Management (CRM) Outsourcing Market size is estimated to grow at a CAGR of 5.63% between 2022 and 2027. The market size is forecast to increase by USD 25.4 billion.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Application
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com
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