PUBLISHER: The Business Research Company | PRODUCT CODE: 1409659
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409659
“Online On-demand Home Services Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on online on-demand home services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for online on-demand home services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The online on-demand home services market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Online on-demand home services refer to services that provide a seamless connection between offline and online services, allowing users to access effective home services instantly through a web-based system.
The main types of online on-demand home services are categorized as cellular and non-cellular. Cellular services pertain to wireless telecommunications, enabling users to utilize mobile phones and other communication devices. These services can be accessed through various platforms, including web and mobile applications. Online on-demand home services cater to a diverse range of end-users, including those in the media and entertainment, carpentry, food, home welfare, beauty, retail, and healthcare industries.
The online on-demand home services market research report is one of a series of new reports from The Business Research Company that provides online on-demand home services market statistics, including online on-demand home services industry global market size, regional shares, competitors with an online on-demand home services market share, detailed online on-demand home services market segments, market trends, and opportunities, and any further data you may need to thrive in the online on-demand home services industry. This online on-demand home services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The online on-demand home services market size has grown rapidly in recent years. It will grow from $4.64 billion in 2023 to $5.29 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth observed in the historical period can be attributed to factors such as increased smartphone penetration, urbanization trends, evolving consumer lifestyles, a tech-savvy consumer base, and the presence of entrepreneurial opportunities in the online on-demand home services sector.
The online on-demand home services market size is expected to see rapid growth in the next few years. It will grow to $9.03 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. The anticipated growth in the forecast period can be attributed to the integration of IoT and smart home technologies, the increasing prevalence of remote work, the emphasis on contactless and safe service options, AI-driven personalization, and the expansion of service offerings in the online on-demand home services sector. Major trends in this period include the adoption of contactless payment and digital transactions, a focus on health and safety protocols, the expansion of services to tier 2 and tier 3 cities, personalized service recommendations, and the rise of DIY and remote guidance services.
The anticipated growth of the online on-demand home services market is driven by the increasing use of smartphones. Smartphones, portable electronic devices connecting to cellular networks, have become integral to daily life, offering a platform for a wide range of services. The surge in smartphone usage is expected to propel the online on-demand home services market. For instance, a June 2021 report by SimpleTexting revealed that Mississippi recorded 5.7 hours of daily mobile usage, averaging 86.2 days per month, indicating a significant reliance on smartphones. This surge in smartphone usage is a key factor driving the growth of the online on-demand home services market.
The trend towards flexible work is poised to further boost the growth of the online on-demand home services market. Flexible work, allowing employees to determine aspects such as location, hours, or schedule, aligns with online on-demand home services, providing convenience for individuals to access domestic services based on their schedules and preferences. A survey conducted in 2022 by FlexJobs' Career Pulse revealed that 97% of respondents expressed a preference for remote or hybrid work arrangements, indicating a strong desire for flexibility. This shift towards flexible work arrangements significantly contributes to the growth of the online on-demand home services market.
Product innovation represents a prominent trend gaining traction in the online on-demand home services market, with major companies focusing on developing innovative products for a competitive edge. For example, Angi, an online directory connecting consumers with local home service providers, introduced Angi Key in July 2021-a membership service offering homeowners access to affordable home maintenance, improvement, and emergency repair services. This innovative approach enables homeowners to easily access a variety of home improvement tasks, aligning with the trends in the online on-demand home services market.
Strategic partnerships are a focus for major companies operating in the online on-demand home services market to expand capabilities. Strategic partnerships involve leveraging strengths and resources for mutual benefits. For instance, H-E-B, a Texas-based supermarket chain, partnered with Thumbtack in March 2023 to facilitate customer access to home service professionals. Branded displays in over 300 H-E-B shops allow customers to identify local Thumbtack service providers for tasks such as cleaning, lawn care, and handymen. This strategic partnership aims to meet customer demands for easy access to a variety of home services.
In August 2021, LawnStarter, an online marketplace for lawn maintenance and outdoor services, acquired Lawn Love for an undisclosed amount. This acquisition is expected to benefit outside-home service providers by enabling them to handle more work, ultimately increasing the revenue of small businesses nationwide. Lawn Love, a web service company connecting businesses with households in need of lawn care, contributes to the growth of the online on-demand home services market.
Major companies operating in the online on-demand home services market report are 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
North America was the largest region in the online-on-demand home services market in 2023. The regions covered in the online on-demand home services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the online on-demand home services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The online on-demand home services market includes revenues earned by entities by providing beauty services, home cleaning and repair, tailor services, pet services, dry cleaning services, and laundry services facilitated through the internet. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.