DUBLIN, Jan. 23, 2024 /PRNewswire/ — The “Online On-demand Home Services Global Market Report 2024” report has been added to ResearchAndMarkets.com’s offering.
The global market for online on-demand home services has witnessed a notable surge, demonstrating a robust expansion from $4.64 billion in 2023 to a projected $5.29 billion in 2024, progressing at a compound annual growth rate (CAGR) of 13.9%. This upward trend is largely driven by the ubiquitous presence of smartphones, increased urbanization, evolving consumer lifestyles, and the burgeoning inclination towards tech-savvy service solutions.
The sector is set for further advancement, with a predicted growth trajectory seeing the market scale up to $9.03 billion by 2028, accelerated at a CAGR of 14.3%. The integration of cutting-edge technologies such as the Internet of Things (IoT) and smart home advancements, alongside the burgeoning trend of remote work, are propelling the demand for these services, whereby consumers increasingly favor contactless, safe, and personalized service options.
Navigating the Technological Landscape
The progressive transformation in the market is directly linked to the intensifying use of smartphones as pivotal portals for a myriad of services. Data depicts significant smartphone reliance, such as a report noting Mississippi’s average daily mobile usage, positioning these devices as central to the market’s growth.
The rise of flexible work paradigms is anticipated to further buoy market expansion. With the majority of professionals expressing a predilection for remote or hybrid work models, online on-demand home services are adeptly positioned to meet the evolving service consumption preferences.
Emerging Market Dynamics
Amidst these growth factors, product innovation takes a front seat. Renowned entities such as Angi Inc. are spearheading this trend, launching services like Angi Key to streamline home improvement processes. Similarly, strategic partnerships are burgeoning, exemplified by market giants collaborating with platforms like Thumbtack to enhance consumer access to a broad spectrum of domestic services.
Acquisitions and Market Consolidation:
The market also observes significant M&A activities, with LawnStarter’s acquisition of Lawn Love marking a pivotal moment in the sector, set to fortify the service capabilities of outdoor home service providers.
Regional Insights
North America emerges as the commanding region within this market space in 2023, with forecasts indicating sustained dominance. Comprehensive coverage in the market research includes analysis across diverse regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
With a keen focus on both cellular and non-cellular modality offerings across an array of end-user sectors including media, entertainment, home welfare, beauty, healthcare, and more, the latest market research presents an overarching view of the current and future market landscape.
A selection of companies mentioned in this report includes
- Amazon.com Inc.
- Angi Inc.
- Helpling GmbH
- TaskRabbit Inc.
- The ServiceMaster Company LLC
- AskforTask Inc.
- Handy Technologies Inc.
- TaskEasy Inc.
- ByNext Inc.
- Urban Company (previously UrbanClap) Technologies Pvt. Ltd.
- Paintzen Inc.
- Porch.com Inc.
- E Home Services Pte. Ltd.
- ServiceWhale Inc.
- Fixico B.V.
- Airtasker Pty Ltd.
- Zaarly Inc.
- Hello Alfred Inc.
- SERVIZ Inc.
- Homejoy Inc.
- Thumbtack Inc.
- HomeAdvisor Inc.
- Takl Inc.
- LawnStarter Inc.
- Lawn Love Inc.
- Plowz & Mowz Inc.
- YourMechanic Inc.
- Openbay Inc.
- Carvana Co.
- Turo Inc.
- Getaround Inc.
- Zipcar Inc.
- Silvercar Inc.
- Drizly Inc.
- Saucey Inc.
- Minibar Delivery LLC
- Instacart Inc.
- Shipt Inc.
- Postmates Inc.
- DoorDash Inc.
- Grubhub Holdings Inc.
- Uber Technologies Inc.
- Caviar Inc.
- Seamless Holdings Corporation
- EatStreet Inc.
For more information about this report visit https://www.researchandmarkets.com/r/dlmhzl
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
