Categories: Market Research

Online On-demand Home Services Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Online On-demand Home Services by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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https://www.thebusinessresearchcompany.com/report/online-on-demand-home-services-global-market-report

According to The Business Research Company’s Online On-demand Home Services, 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 in the historic period can be attributed to smartphone penetration, urbanization trends, changing consumer lifestyles, tech-savvy consumer base, entrepreneurial opportunities..

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 growth in the forecast period can be attributed to iot and smart home integration, rise of remote work, contactless and safe service options, ai-driven personalization, expansion of service offerings.. Major trends in the forecast period include contactless payment and digital transactions, focus on health and safety protocols, expansion to tier 2 and tier 3 cities, personalized service recommendations, rise of diy and remote guidance services..

The surging usage of smartphones is expected to boost the growth of the online on-demand home services market going forward. A smartphone refers to a portable electronic device that connects to a cellular network. People’s daily lives depend heavily on smartphones because they offer a platform for an almost limitless array of services, hence, the surging usage of smartphones is expected to boost the online on-demand home services market. For instance, in June 2021, according to a report published by SimpleTexting, a US-based SMS marketing service that provides users with tools to create and execute text message marketing campaigns, Mississippi recorded 5.7 hours of mobile usage per day with an average of 86.2 days each month. It amounts to 40 hours a week spent on phones. Therefore, the surging usage of smartphones is driving the growth of the online on-demand home services market.

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The online on-demand home services market covered in this report is segmented –

1) By Types: Cellular, Non-Cellular

2) By Platform: Web, Mobile

3) By End-User: Media And Entertainment, Carpentry, Food, Home Welfare, Beauty, Retail, Healthcare

Product innovation is the key trend gaining popularity in the online on-demand home services market. Major companies operating in the online on-demand home services market are focusing on developing innovative products to gain a competitive edge in the market. For instance, in July 2021, Angi, a US-based online directory that connects consumers with local home service providers, from contractors to home cleaners, launched Angi Key, a new membership service. This service’s unique feature is that it gives homeowners access to simple, dependable, and affordable home maintenance, improvement, and emergency repair. Members of Angi Key are eligible for savings on a huge variety of typical home improvement tasks. They may also browse, book, and purchase home services with the same ease as ordering delivery, hailing a cab, or making an online purchase.

The online on-demand home services market report table of contents includes: