The Private Household 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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According to The Business Research Company’s Private Household Services, The private household services market size has grown strongly in recent years. It will grow from $294.37 billion in 2023 to $323.79 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to income levels and disposable income, demographic trends and aging population, urbanization and busy lifestyles, dual-income households and work-life balance, changing social norms and outsourcing culture..
The private household services market size is expected to see strong growth in the next few years. It will grow to $460.71 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to shift in consumer preferences and customization, rising awareness of mental health and well-being, flexible service models and subscription plans, remote work trends and home office support, sustainability and eco-friendly services.. Major trends in the forecast period include expanding senior care and aging-in-place services, integration of virtual and remote services, focus on personalized and concierge services, utilization of subscription-based service models, market entry of technology-based startups..
The increasing demand for home cleaning services is expected to propel the growth of the private household services market going forward. Home cleaning services refer to the act of cleaning a house, room, etc. A typical house cleaning service includes wiping down bathroom and kitchen surfaces in addition to dusting, vacuuming, and cleaning the floors. Home cleaning services are primarily used in private households to remove germs along with dirt and dust, improving indoor air quality, leaving a fresh scent in their wake, and saving time and energy. Hence, the increase in demand for home cleaning will boost the market for private household services. For instance, in January 2023, according to a report published by Jobber (Octopusapp Inc.), a Canada-based software company, in 2021, 10%of all US households paid a professional service to clean their homes, and the expense of home services increased by 9.4 percent in the same year. Also, in 2021, income in the cleaning sector increased by 14%, and by 2024, it is anticipated that 80 percent of households will use home cleaning services. Further, by 2025, the residential cleaning industry is anticipated to be worth $40.38 billion. Therefore, demand for home cleaning services is driving the growth of the private household services market.
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The private household services market covered in this report is segmented –
1) By Type: Home Care And Design, Repair And Maintenance, HWB, Other Types
2) By Services: Floor Cleaning, Window Cleaning, Carpet Cleaning, Other Services
3) By Home Improvement: Construction, Interior Design
Technological advancement is a key trend gaining popularity in the private household services market. Major companies operating in private household services are focused on developing innovative solutions to strengthen their position in the market. For instance, in June 2022, Home In One., a US-based home service company, launched a booking app platform, especially for home services. This booking experience uses a user-friendly, intuitive platform purpose-built to make home servicing as simple and convenient as possible, and the booking process easy. After choosing the desired service and setting the time and date, Home In One’s automated smart system will finds the best service provider to work on the client’s tasks. Schedules can be set for one-time or recurring appointments. Additionally, through this platform, clients can communicate with vendors to clarify things, add comments, and set ratings for their services.
The private household services market report table of contents includes:
- Executive Summary
- Private Household Services Market Characteristics
- Private Household Services Market Trends And Strategies
- Private Household Services Market – Macro Economic Scenario
- Global Private Household Services Market Size and Growth
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- Global Private Household Services Market Competitive Benchmarking
- Global Private Household Services Market Competitive Dashboard
- Key Mergers And Acquisitions In The Private Household Services Market
- Private Household Services Market Future Outlook and Potential Analysis
- Appendix
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