According to the Facts and Factors, Market Research, the global online on-demand home service market in 2019 was approximately USD 1,320 Million. The market is expected to grow at a CAGR of 28% and is anticipated to reach around USD 7,280 Million by 2026.
Online on-demand home service is the economic activity conducted by technology companies to fulfill customer demand on time. The growing penetration of the internet and an increasing number of mobile apps have made it possible to shop globally from any location. According to internet world stats, the global internet penetration rate is around 55.1% and is growing at a rapid rate due to urbanization and advancement in technology. In addition to the above factor, the availability of multiple options on a single platform, easy booking, and payment options, and extended varieties and discount options as compared to offline shopping is acting as fuel to the lamp for this market.
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Industry Major Market Players
- Amazon Web Services (AWS)
- The home depot
- Hello Alfred
- Laurel & Wolf
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Growth in smartphone users along with the rising trend of online professional services is some of the high impact rendering factors driving the market growth at a rapid pace. According to Deloitte’s report on the global mobile consumer’s trend, 80% of the world population is having smartphone out of this around 30% of the population use smartphones for online product payment and in-store payments. Conversely, data theft is a major concern for online services that hinder market growth. Nonetheless, order-focused delivery and time saving are some of the factors that may drive the market in the coming years.
By geography, the online on-demand home service market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the online on-demand home service market in terms of revenue share for the year 2018. The growth of the region is mainly due to a large percent of the public using shred or on-demand services online services. For instance, around 72% of Americans are engaged in some kind of shred or on-demand activities such as the purchase of second-hand goods online, use of programs that offer same-day delivery of the goods, ticket purchasing for sports, and entertainment from online ticket resellers, and many more. In addition, U.S. consumers are spending around USD 57 Billion annually in the on-demand economy. As per the report published by New York Times U.S. held the largest market share and expected to witness the highest CAGR in the coming years. Additionally, several startup companies are involved in fundraising activities. For instance, Boston-based Renoviso has raised 5 Million USD that provides on-demand booking for home construction projects, Handy has raised USD 109 Million for on-demand house cleaning service; New York-based Paintzen has raised USD 12 Million for on-demand house painting services.
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The online on-demand home service market research report delivers an acute valuation and taxonomy of the online on-demand home service industry by practically splitting the market on the basis of different detection, end-use, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the online on-demand home service industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the online on-demand home service industry is provided for the leading economies of the world.
The global online on-demand home service market is analyzed on the basis of type and service. Based on type the online on-demand home service market is divided into cellular and non-cellular. By service, the global online on-demand home service market is segmented into food delivery, retail, healthcare, media & entertainment, beauty, carpentry, home welfare, and others. The home welfare segment is further classified into the laundry, lawn care, house cleaning, house painting, electrician, plumbing, construction & renovation, and others. The food segment held the largest revenue market share in the year 2018. On the other hand, the home welfare segment is expected to witness the highest CAGR in the analyzed period. The growth of the online on-demand food delivery service is mainly due to order-focused food delivery services, easy accessibility, and convenience.
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This report segments the online on-demand home service market as follows:
Global Online On-demand Home Service Market: Type Segment Analysis
Global Online On-demand Home Service Market: Service Segment Analysis
- Media & Entertainment
- Home Welfare
- Lawn Care
- House Cleaning
- House Painting
- Construction & Renovation
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