Aug 25, 2023

Dublin, IRELAND Dublin, Aug. 25, 2023 (GLOBE NEWSWIRE) -- The "Global On-Demand Home Service Market 2023-2030" report has been added to ResearchAndMarkets.com's offering. The global on-demand home services market is projected to experience substantial growth, with a Compound Annual Growth Rate (CAGR) of 14.8% during the forecast period. The convenience offered by online vendors for home cleaning services is a significant driver of this growth. The widespread adoption of the internet and e-commerce, facilitated by the proliferation of smartphones, has fueled the expansion of the market. These advancements have also led to increased demand for a range of home services such as cleaning, plumbing, lawn care, and painting. Social Media Influence on Market Growth Home service vendors are leveraging social media platforms such as YouTube, Facebook, Twitter, Instagram, and Google Plus to promote and campaign their services. This approach enhances consumer engagement with brands and fosters awareness of new offerings by online on-demand service providers. The rising popularity of social media is expected to further amplify market growth, particularly in emerging economies. Consumer visibility has become a crucial factor, prompting demand for updates through various channels, from SMS and email notifications to real-time tracking and Estimated Time of Arrival (ETA) updates. Integration of AI and Automation The on-demand home service industry is embracing AI and automation to streamline operations and boost efficiency. Proper integration of AI into these services holds the potential to unlock lucrative growth opportunities for the global on-demand home service market. Segmentation of the Market The global on-demand home services market is segmented based on platforms and types. In terms of platforms, the market is divided into mobile and web platforms. Among these, the mobile platform is expected to exhibit significant growth. On the basis of service types, the market is categorized into home cleaning, repairs and maintenance, and health and wellness. Health and Wellness Segment's Growth The health and wellness segment has witnessed a surge in demand for services such as on-demand yoga instructors, driving substantial growth in this sector. Key players in the segment are expanding their offerings to meet consumer demand. For instance, Amazon Care has plans to add behavioral health support to its existing medical services, indicating a trend of expansion in the health and wellness domain. Such developments are expected to further fuel growth in this segment. Regional Dynamics Geographically, the global on-demand home services market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is poised for considerable growth, attributed to increasing internet penetration and technologically advanced service apps that provide timely offerings. Factors such as urbanization, growing working women population, and heightened work stress levels have contributed to the rising demand for on-demand home services in the Asia-Pacific region. Dominance of North America In North America, particularly the US, the on-demand home services market holds a significant share. Key players like Angie's List, HomeAdvisor, TaskRabbit, Amazon Home Services, and more operate in this market. The accessibility and quick payment options for these services have positively impacted the regional market. The expansion of service offerings to include specialized and niche services, coupled with the adoption of mobile apps, further drives growth in the US market. Major Market Players Leading market players include Amazon.com, Inc., TaskRabbit, Angi Inc., Airtasker Pty Ltd., and Cleanly Inc., among others. These players are actively engaging in growth strategies such as marketing campaigns, service enhancements, and agreements to strengthen their competitive position. Catering to niche customers with specific services is a core strength of these market leaders. Market Insights Covered Annualized market revenues ($ million) for each market segment. Country-wise analysis of key geographical regions. Insights into major companies operating in the global on-demand home services market, including data on new product launches and relevant news. Identification of key market segments positioned for strong future growth. Analysis of market entry and expansion strategies. Competitive strategies, identifying market positioning of various players. Key Topics Covered: