NEW YORK, July 24, 2024 /PRNewswire/ — The global online on-demand home services market size is estimated to grow by USD 15.11 trillion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 68.02% during the forecast period. Advantages of online on-demand home services is driving market growth, with a trend towards rising number of advertising and marketing campaigns. However, lack of consumer understanding of on-demand home services poses a challenge. Key market players include Airtasker Pty Ltd., Alfred Club Inc., Amazon.com Inc., Angi Inc., AskforTask Inc., ByNext Inc., Cedar Slate Home Services, Eliza Brazil Cleaning Services, Helpling GmbH and Co. KG, Home Reno Pte. Ltd., HomeServe Plc, Paintzen Inc., Super Home Inc., Taskrabbit Inc., The ServiceMaster Co. LLC, Up Your Home Services Sdn Bhd, Urbanclap Technologies India Pvt. Ltd., Housejoy India Pvt. Ltd., INFERVIZE HOME SERVICES Pvt Ltd., and MyClean Inc..
Technavio has announced its latest market research report titled Global Online On-demand Home Services Market 2024-2028
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Service (Home care and design, Repair and maintenance, Health wellness and beauty, and Others), Platform (Mobile application and Website), and Geography (APAC, North America, Europe, South America, and Middle East and Africa) |
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Region Covered |
APAC, North America, Europe, South America, and Middle East and Africa |
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Key companies profiled |
Airtasker Pty Ltd., Alfred Club Inc., Amazon.com Inc., Angi Inc., AskforTask Inc., ByNext Inc., Cedar Slate Home Services, Eliza Brazil Cleaning Services, Helpling GmbH and Co. KG, Home Reno Pte. Ltd., HomeServe Plc, Paintzen Inc., Super Home Inc., Taskrabbit Inc., The ServiceMaster Co. LLC, Up Your Home Services Sdn Bhd, Urbanclap Technologies India Pvt. Ltd., Housejoy India Pvt. Ltd., INFERVIZE HOME SERVICES Pvt Ltd., and MyClean Inc. |
Key Market Trends Fueling Growth
Vendors in the global online on-demand home services market are utilizing marketing and advertising efforts to expand their customer base and ensure customer satisfaction. Strategies include customizing services to meet individual needs, offering cashback options and gift coupons, and providing discounts for first-time and frequent orders. Amazon Home Services guarantees customer happiness with its Happiness Guarantee, compensating customers if services fail to meet expectations. These marketing tactics, along with new advertisement campaigns, are expected to fuel market growth during the forecast period.
The Online On-demand Home Services market in Riyadh and Baheya is booming, with companies like Wrench and Oneflare leading the way. Patent-based analysis shows advanced innovations in open innovation, including home automation and contactless service. Emerging players are capitalizing on urbanization trends and tech-savvy consumer lifestyles, offering personalized service through flexible work paradigms. M&A activities continue, with cellular modality and non-cellular modality providers merging for increased efficiency. Home welfare and smartphone penetration drive growth, with AI-driven personalization and remote guidance services becoming increasingly popular. Contactless and safe service, including contactless payment and digital transactions, are key safety protocols. Entrepreneurial opportunities abound in this market, with remote work and personalized recommendations becoming the new norm.
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Market Challenges
On-demand home services offer convenience and efficiency, but misaligned consumer expectations can hinder market growth. Consumers may not fully grasp the terms of service, pricing models, or the overall process, leading to dissatisfaction. Security concerns and data privacy policies are also important considerations. Lack of awareness about these aspects can prevent consumers from adopting on-demand platforms. Effective communication and marketing are crucial to address these concerns and promote the benefits of on-demand services. Failure to do so may result in resistance from traditional service providers and slow market penetration. Consumers require clear information about the advantages of on-demand home services and how to use these platforms effectively. This understanding is essential to foster seamless adoption and drive growth in the global online on-demand home services market.
The Online On-demand Home Services market is experiencing significant growth due to smartphone penetration, urbanization trends, and tech-savvy consumers. Entrepreneurial opportunities abound as homeowners, property managers, and consumers seek convenient, contactless, and safe solutions for plumbing, electrical repairs, landscaping, home improvement, and wellness and beauty services. Service providers can reach a wider audience through digital platforms like Angi Key, Thumbtack, LawnStarter, and Lawn Love. Remote work and flexible pricing structures, including hourly rates, flat fees, and subscription-based models, are driving innovation. Home technologies, such as AI-driven personalization and remote guidance services, enhance the customer experience. Contactless payment and digital transactions ensure safety, while safety protocols prioritize consumer well-being. Industry verticals, including mobile and desktop segments, continue to expand, offering diverse service offerings.
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Segment Overview
This online on-demand home services market report extensively covers market segmentation by
Service
1.1 Home care and design
1.2 Repair and maintenance
1.3 Health wellness and beauty
1.4 Others
Platform
2.1 Mobile application
2.2 Website
Geography
3.1 APAC
3.2 North America
3.3 Europe
3.4 South America
3.5 Middle East and Africa
1.1 Home care and design- The home care and design segment of the online on-demand home services market generates revenue through services like interior designing, pest control, cleaning, laundry, deep cleaning, sofa masonry, woodwork, waterproofing, glasswork, and carpentry. This segment is fragmented with numerous small and large players providing a wide array of home care and design services. For instance, TaskRabbit Inc. Offers house cleaning and furniture assembly, Helpling GmbH & Co. KG provides cleaning and furniture assembly services in multiple cities, Cleanly Inc. Specializes in laundry and dry-cleaning, Serviz.com Inc. Offers various cleaning services, and Amazon.com Inc. Provides deep cleaning, carpet cleaning, tile cleaning, grout cleaning, and gutter cleaning. Vendors in this segment are expanding their businesses, such as TaskRabbit’s entry into Jacksonville, Memphis, and New Haven in June 2021. The increasing number of vendors and business expansions will significantly contribute to the growth of the global online on-demand home services market.
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Research Analysis
The Online On-demand Home Services Market is experiencing significant growth due to several factors. Smartphone penetration has made it easier for consumers, homeowners, property managers, and service providers to connect and schedule services in real-time. Urbanization trends and consumer lifestyles have led to an increased demand for convenient and tech-savvy solutions for home repairs and improvements. Entrepreneurial opportunities abound as service offerings expand beyond traditional plumbing, electrical repairs, and landscaping to include home improvement projects. Remote work and the need for contactless and safe services have further accelerated the adoption of online on-demand home services. AI-driven personalization ensures that consumers receive customized recommendations based on their unique needs and preferences. Contactless payment options ensure a seamless and secure transaction process. Overall, the Online On-demand Home Services Market offers a wealth of opportunities for both consumers and service providers.
Market Research Overview
The Online On-demand Home Services market is experiencing exponential growth, driven by smartphone penetration, urbanization trends, and tech-savvy consumers. With the rise of remote work and contactless services, this industry offers significant entrepreneurial opportunities. AI-driven personalization and digital transactions enable contactless and safe service offerings, including plumbing, electrical repairs, landscaping, home improvement, repair and maintenance, wellness and beauty, and more. Service providers cater to homeowners, property managers, and consumers through subscription-based models and flexible pricing structures, such as hourly rates, flat fees, and square footage. Emerging players like Baheya, Riyadh, Wrench, Oneflare, and others are disrupting traditional home services with advanced innovations like patent-based analysis, open innovation, and home technologies. The market is diverse, encompassing various industry verticals, from mobile and desktop segments to home automation and personalized recommendations. Remote guidance services and flexible work paradigms are also gaining popularity, offering consumers convenient and efficient solutions. Safety protocols and contactless payment methods ensure peace of mind during transactions. Overall, the Online On-demand Home Services market is transforming the way we maintain and improve our homes, offering a more personalized, convenient, and safe experience.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Service
Home Care And Design
Repair And Maintenance
Health Wellness And Beauty
Others
Platform
Mobile Application
Website
Geography
APAC
North America
Europe
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
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SOURCE Technavio