Online On-demand Home Services Market Outlook (2023–2033)
According to a new study by Persistence Market Research, the global online on-demand home services market generated a revenue of US$ 3.73 Bn in 2022. Worldwide demand for online on-demand home services is set to accelerate at 5.7% CAGR and top a market valuation of US$ 7 Bn by 2033.
The online on-demand home services market has experienced significant growth in recent years, driven by the increasing adoption of smartphones and the internet. This market encompasses a variety of services, including cleaning, plumbing, electrical, handyman, and lawn care services, which can be accessed and ordered through online platforms or mobile applications.
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Drivers and Challenges:
The Online On-demand Home Services market has been experiencing significant growth in recent years due to the convenience and accessibility it offers to customers. However, this market is not without its challenges.
One of the primary drivers of this market is the increasing demand for time-saving and efficient services, particularly among busy urbanites. Another driver is the increasing availability of affordable smartphones and internet connectivity, which has made it easier for customers to access these services.
On the other hand, some of the challenges facing this market include competition from traditional service providers, concerns around the quality of services, and the difficulty of ensuring customer loyalty in a highly fragmented market.
Segmentation of Online On-demand Home Services Industry Research
Platform Type:
- Web
- Mobile
End Use:
- Media & Entertainment
- Carpentry
- Food
- Home Welfare
- Beauty
- Retail
- Healthcare
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
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The key factors driving the growth of this market are the convenience and time-saving benefits of on-demand services, increasing urbanization, rising disposable incomes, and growing awareness about the benefits of outsourcing household tasks. North America dominated the online on-demand home services market in 2020, followed by Europe and Asia-Pacific. The Asia-Pacific region is expected to witness the highest growth rate during the forecast period, owing to the increasing penetration of smartphones and internet connectivity.
The online on-demand home services market is highly competitive, with a large number of players offering similar services. To stay competitive, players in this market need to focus on providing high-quality services, offering competitive pricing, and expanding their service offerings to meet the changing needs of their customers.
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Some of the leading players in the market include
- Amazon.com Inc.
- Angi Inc.
- AskforTask Inc.
- ByNext Inc.
- E Home Services
- Fixi Co. Ltd.
- Helpling GmbH and Co. KG
- Home Reno Pte. Ltd.
- HomeServe Plc
- Houzz Inc.
- MyClean Inc.
- Others
Read More Trending “PMR Exclusive Article”: https://www.digitaljournal.com/pr/news/online-on-demand-home-services-market-to-witness-heightened-revenue-growth-in-the-next-decade
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