Concierge Services Market to Reach $1.1 Billion, Globally, by 2032 at 5.8% CAGR: Allied Market Research

The concierge service industry has grown significantly over the years, driven by increased demand for convenience, efficiency, and personal support.

PORTLAND, Ore., July 25, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Concierge Services Market by Type (HoReCa, Transportation, Entertainment, Other), By End User (Corporate, Personal): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global concierge services market generated $647.3 million in 2022 and is anticipated to generate $1.1 billion by 2032, witnessing a CAGR of 5.8% from 2023 to 2032.

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Prime determinants of growth

The concierge service industry has grown significantly over the years, driven by increased demand for convenience, efficiency, and personal support. Advances in technology have expanded the scope of concierge services, providing access to virtual and remote services through digital platforms and communication tools. This made concierge services accessible to a wider audience and contributed to the growth of the industry. The growth in the tourism industry has created new opportunities for concierge service providers.

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The HoReCa segment to maintain its leadership status throughout the forecast period

Based on type, the HoReCa segment held the highest market share in 2022, accounting for nearly two-fifths of the global concierge services market revenue and is estimated to maintain its leadership status throughout the forecast period. HoReCa Trends in the concierge services market include technology consolidation. Digital platforms and mobile apps allow guests and customers to easily access concierge services. These platforms provide real-time service, personalized recommendations, and better communication. However, the transportation segment is projected to manifest the highest CAGR of 6.3% from 2023 to 2032, An important factor in the transportation of the concierge service sector is the increase in environmentally friendly and long-distance transportation options.

The personal segment to maintain its leadership status throughout the forecast period

Based on end user, the personal segment held the highest market share in 2022, accounting for around three-fifths of the global concierge services market revenue and is estimated to maintain its leadership status throughout the forecast period. A major trend in personal service is the rise of virtual concierge services. With the development of technology, people can now get help from the comfort of their homes or offices. However, the corporate segment is projected to manifest the highest CAGR of 6.1% from 2022 to 2031. In recent years, there has been a significant trend in the corporate world to integrate concierge services as part of the employee group.

North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global concierge services market revenue, there is an increasing demand from individuals and businesses for convenience and time efficiency. Fast-paced lifestyles and busy schedules have increased the demand for non-essential services for concierge service providers. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.2% from 2023 to 2032. In this region, concierge services refer to personalized assistance and support provided to individuals or businesses, aiming to simplify daily routines and enhance convenience. The Asia-Pacific concierge services market has experienced notable growth in recent years, driven by several key trends.

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Leading Market Players: –

• QuintEvents
• Quintessentially
• Vip World Events
• Knightsbridge Circle
• Protravel International, LLC
• Luxury World Key Concierge
• Myconcierge
• The Fixer Lifestyle Group
• Pure Entertainment Group, Inc.
• Luxury Attache.

The report provides a detailed analysis of these key players of the global concierge services market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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