New York, June 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Online On-demand Home Services Global Market Report 2023" - https://www.reportlinker.com/p06464024/?utm_source=GNW
, Porch.com Inc., E Home Services, ServiceWhale Inc., and Fixico.
The global online on-demand home services market is expected to grow from $4.09 billion in 2022 to $4.66 billion in 2023 at a compound annual growth rate (CAGR) of 13.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The online on-demand home services market is expected to reach $7.70 billion in 2027 at a CAGR of 13.4%.
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.
Online on-demand home services refer to those that bridge the gap between offline and online services instantly to deliver effective home services. It is used by any authorized user wishing to look for household services using an ingenious web-based system.
North America was the largest region in the online-on-demand home services market in 2022. The regions covered in online on-demand home services report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of online on-demand home services are cellular and non-cellular.Cellular service refers to a wireless telecommunications term for a service that enables users to utilize mobile phones and other communication devices.
The various platforms include web and mobile. These are used by various end-users such as media and entertainment, carpentry, food, home welfare, beauty, retail, and healthcare.
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.
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.
In August 2021, LawnStarter, a US-based online marketplace that provides lawn maintenance and outdoor services, acquired Lawn Love for an undisclosed amount.This acquisition of Lawn Love is anticipated to help outside-home service providers by allowing them to take on more work, consequently increasing the revenue of thousands of small businesses across the nation.
Lawn Love is a US-based web service company that links companies with hundreds of nearby households in need of lawn care.
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.
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.
The online on-demand home services market research report is one of a series of new reports 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.
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