Out of 11Fields including 94 Markets of Service Industry, Approximately a Quarter (26 markets) Expects Further Growth
Yano Research Institute (the President, Takashi Mizukoshi) has conducted a survey on the trends of domestic service industry, and found out the current status and future outlook of 11 fields including 94 markets.
Summary of Research Findings
According to the GDP (nominal GDP) for 2018 (calendar year) by the Cabinet Office, share of the primary sector was 1.2%, which is equivalent to that of the preceding year. Likewise, the share of the secondary sector remained at 26.5%, almost the same as a previous year, while the share of tertiary sector rose by 0.1 point.
Viewing at the breakdown of the tertiary sector, it shows that wholesale/retail, real estate, professional/science technology, and services for enterprises account for large fraction. In terms of transition, while the share of infrastructure services such as electricity/gas/water/waste treatment had been flat in recent years, wholesale/retail dropped its share in 2018, and finance/insurance and transportation/postal services grew marginally. Real estate business stayed flat in 2018.
Meanwhile, public services including public duties, education, and health/social services (government sector market) accounts for 15% of the Japan's gross domestic product by economic activity. By value, trend of expansion has been witnessed since 1990s, and in 2018 it reached 86 trillion yen, up 2.1% from the previous year. Nonetheless, because public services essential for people’s living, such as education, healthcare, police and fire, have difficulty making profits, there is an aspect that private enterprises hesitate from going into this market.
Launderette (Laundromat) Market Trends
Of the 11 fields including 94 markets in this research, 26 markets (composition ratio of 27.7%) are on the rise. Launderette market is one of the noteworthy growing markets in the field of living assistance services.
While a precise number of launderettes are unknown as launderette service is not obliged to file its opening or closing, it is assumed that there are approximately 20,000 launderettes in Japan today. In recent years, the number of launderettes continued to expand, under the influence of: a growing trend towards nuclear families and double-income households; changes in social environment and lifestyle including rising consciousness toward hygiene control; and launderettes garnering attention as a new target of investment, as an alternative to solar power generation or parking place (coin parking lots). Although the growth rate has lowered recently due to slowdown in craze for investment, it is assumed that the launderette service is still seeing a slight upward trend.
The copyright and all other rights pertaining to this report belong to Yano Research Institute.
Please contact our PR team when quoting the report contents for the purpose other than media coverage.
Depending on the purpose of using our report, we may ask you to present your sentences for confirmation beforehand.