The on-going diversification in delivery channels of on-demand home care services coupled with the exploration of new service areas is anticipated to drive the growth of global on-demand home services market in future years. On-demand is a type of business model which caters to the consumer’s requirements by providing goods and services in a timely manner. The home services companies are adopting this business model as it provides convenience and simplicity throughout the business processes. Owing to the increase in number of on-demand home service providers, companies have begun to innovate traditional business approaches to strengthen their share in the market. The high proliferation of smartphones and internet connectivity has changed the approach of new age customers to look for desired services. This poses a striking opportunity for aggregator platforms to optimize economies of scale. House service aggregator are acquiring or partnering with individual home services providers owing to the high potential of this digitalization trend. For instance, online home services aggregator, Housejoy acquired a laundry service provider start-up laundry start-up MyWash in 2016. This on-going investment among major market players has also attracted new participants to enter the market. For instance, a start-up named Cheep was launched in May 2017 with an intent to serve as a one-stop solution for all home service requirements. It is an aggregator of home service providers which provides customers all-in-one solution to outsource all the household chores. Thus, the untapped potential of digital platforms poses lucrative growth opportunities for aggregators in global on-demand-home services market over forecast years.
The emerging aggregators in on-demand home services market are exploring non-conventional service applications to generate newer sources of revenue. The rising awareness for grooming and fitness services poses lucrative growth opportunities for on-demand home service providers to cash-on. Major aggregators such as Urbanclap, Housejoy and Timesaverz diversified their offerings and entered into the beauty services segment in 2016 and have thus, established a strong presence in the sector. This diversification of service offerings is anticipated to drive the growth of global on-demand-home services market over the forecast period.
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The recent outbreak of COVID-19 has created high awareness for safety and hygiene practices amongst global population, thus restraining people to leave their house for unproductive reasons. Hence, the consumers are increasingly being inclined towards outsourcing these services. This on-going trend is anticipated to proliferate the growth in global on-demand home services market over the next eight years
In terms of revenue, global on-demand home services market was valued at US$ 215.48 Bn in 2019 and is anticipated to grow at a CAGR of 23.69% over the forecast period. The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
The detailed research study provides qualitative and quantitative analysis of on-demand home services market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
- The global on-demand home services market was valued at US$ 215.48 Bn in 2019 and is anticipated to witness a compound annual growth rate of 23.69% over the forecast period owing to evolving customer demand and preferences.
- App based on-demand home services are anticipate to witness high growth over forecast years owing to growing investment from market players to exploit its benefits.
- North America held the highest market share in global on-demand home services market in 2018 owing to high disposable income of the population and emerging start-ups. Asia Pacific is expected to register highest CAGR over the forecast period. The same is attributed to rapid adoption of technological advancement in the region.
- Some of the players operating in the on-demand home services market are Airtasker Pty. Ltd, AskforTask & Airzai, CLEANLY, Goodnest Ltd, Handy, HELLO ALFRED, Helpling, Housejoy, Laurel & Wolf, MyClean, Paintzen, Serviz.com, Inc., Super Clean Services, TaskEasy, Inc., TaskRabbit, Urban Company, UrbanYou, YourMechanic and Zaarly amongst others.
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Global On-Demand Home Services Market:
- By Service Type
- Cleaning Services
- Deep Home Cleaning Services
- Appliances Cleaning
- Repair & Maintenance Services
- Heating & Air Conditioning Repair Services
- Appliance Repair Services
- Car Repair & Parts Replacement Services
- Plumbing Services
- Electrical Services
- Painting Services
- Interior and Exterior Painting
- Wallpaper Installation
- Delivery Services
- Packaging and Relocation
- Beauty and Fitness
- By Platform
- By Region
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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