| Source: TBRC Business Research PVT LTD
Hyderabad, INDIA
LONDON, July 19, 2023 (GLOBE NEWSWIRE) — The Business Research Company’s research on the online on-demand home services market identifies rising smartphone adoption to be a major driver for the online on-demand home services market. A smartphone is a mobile electronic device that can connect to a cellular network. People’s daily lives are heavily reliant on smartphones since they provide a platform for an almost infinite variety of services; thus, rising smartphone usage is predicted to enhance the online on-demand home services market.
Mississippi, for example, recorded 5.7 hours of mobile usage per day with an average of 86.2 days per month in June 2021, according to research issued by SimpleTexting, a US-based SMS marketing firm that provides consumers with tools to build and execute text message marketing campaigns. It equates to 40 hours each week spent on the phone. As a result, the increased use of smartphones is propelling the expansion of the online on-demand home services market.
The global online on-demand home services market size 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 global online on-demand home services market size is expected to reach $7.70 billion in 2027 at a CAGR of 13.4%.
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Product innovation is a major trend that is gaining traction in the online on-demand home services sector. To acquire a competitive advantage in the internet on-demand home services sector, major corporations are focusing on producing unique solutions. For example, Angi, a US-based online directory that connects consumers with local home service providers ranging from contractors to house cleaners, will offer Angi Key, a new membership program, in July 2021. The distinctive characteristic of this service is that it provides homeowners with straightforward, dependable, and economical home maintenance, renovation, and emergency repair. Members of Angi Key are eligible for discounts on a wide range of common home renovation tasks. They may also browse, book, and buy home services with the same simplicity that they can order delivery, grab a cab, or make an online purchase.
Major players in the online on-demand home services market are Amazon.com Inc., Angi, Helping, TaskRabbit Inc., The ServiceMaster Company LLC, AskforTask Inc., Handy, TaskEasy, ByNext, Urban Company, Paintzen Inc., Porch.com Inc., E Home Services, ServiceWhale Inc., and Fixico.
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North America was the largest region in the online-on-demand home services market in 2022.
The global online on-demand home services market is segmented by types into cellular, non-cellular; by platform into web, mobile; by end-user into media and entertainment, carpentry, food, home welfare, beauty, retail, healthcare.
Online On-Demand Home Services Global Market Report 2023 by The Business Research Company provides insights on the online on-demand home services market size, online on-demand home services market segments, online on-demand home services market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 5,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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