Home Services Market Size to grow by 5.14 Tn, Increasing Influence Of Digital Media to Boost Market Growth – Technavio


NEW YORK, Oct. 12, 2022 /PRNewswire/ — The “Home Services Market by Type (Home care and design, Repair and maintenance, HWB, and Others) and Geography (APAC, North America, Europe, South America, and Middle East and Africa) – Forecast and Analysis 2022-2026″ report has been added to Technavio’s offering. The potential growth difference for the home services market size between 2021 and 2026 is USD 5.14 trillion. To get the exact CAGR and the Y-O-Y growth rate, Request a FREE PDF Sample Report

Key Market Dynamics:
  • Market Driver: The increasing influence of digital media is one of the key drivers supporting the home services market growth. Nowadays, the increased adoption of Internet-enabled smartphones has emerged digital media as a key communication and marketing channel for vendors operating in the global home services market. There are several innovative features in technologically-advanced smartphones that help online on-demand service providers increase their visibility. For instance, push messages that contain the details of new service launches and discounts offered are sent to consumers for service promotions. Furthermore, as social media is now becoming popular vendors are using various platforms such as YouTube, Facebook, and others for service promotions and campaigns. Thus, the increasing popularity of social media will drive the home services market growth during the forecast period.
  • Market Challenges: High competition among vendors is one of the factors impeding the home services market growth. The presence of numerous vendors is intensifying competition and an increasing price war among vendors. Such price wars can potentially erode profit margins and lead to smaller businesses exiting the market. However, the global home services market is highly fragmented, with the presence of numerous unorganized vendors. There are several issues associated with unorganized vendors, such as the incapability to maintain standard service quality and ensure transparency and on-time performance, which adversely affect the overall business. All these factors are expected to hamper the growth of the global home services market during the forecast period. 

To learn more about additional key drivers, trends, and challenges available with TechnavioRead our Sample Report right now!

Market Segmentation

The home services market report is segmented by Type (Home care and design, Repair and maintenance, HWB, and Others) and Geography (APAC, North America, Europe, South America, and Middle East and Africa). APAC will be the leading region with 43% of the market’s growth during the forecast period. China and India are the key markets for home services in APAC.

View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.

Vendor Landscape

The global home services market is competitive and fragmented. This is due to the presence of several regional and global vendors. Only the key vendors provide their products, services, and solutions in all regions. The small vendors offer a limited number of products, services, and solutions in a particular region. With the global vendors consistently increasing their footprint in the market, the regional vendors are finding it increasingly difficult to compete with them, especially on parameters such as quality, pricing, market reach, and financial resources. The competitive environment in the market is expected to intensify further during the forecast period. This will be due to product and service extensions and product innovations. Vendors are constantly competing against each other to increase their market share. Many new vendors are expected to enter the market as it offers growth opportunities. Vendors are capitalizing on the popularity of online media to develop a competitive edge. The market is highly competitive, with all the players competing to increase their market shares. The global home services market is expected to grow steadily during the forecast period.

Some Companies Mentioned with their Offerings
    • Amazon.com Inc.
    • Angi Inc.
    • AskforTask Inc.
    • Frontdoor Inc.
    • Gapoon Online Consumer Services Pvt. Ltd.
    • Helpling GmbH and Co. KGA
    • Home Reno Pte. Ltd.
    • Johns Lyng Group Ltd.
    • MyClean Inc.
    • Oneflare Pty Ltd.
    • Paintzen Inc.
    • Porch.com Inc.

To gain access to more vendor profiles with their key offerings available with Technavio, Click Here

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Home Services Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 36.21%

Market growth 2022-2026

USD 5.14 tn

Market structure

Fragmented

YoY growth (%)

26.85

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 43%

Key consumer countries

US, China, India, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Amazon.com Inc., Angi Inc., AskforTask Inc., Frontdoor Inc., Gapoon Online Consumer Services Pvt. Ltd., Helpling GmbH and Co. KGA, Home Reno Pte. Ltd., Johns Lyng Group Ltd., MyClean Inc., Oneflare Pty Ltd., Paintzen Inc., Porch.com Inc., SC Pointer Systems Srl, Super Home Inc., TaskEasy Inc., TaskRabbit Inc., The Home Depot Inc., The ServiceMaster Co. LLC, Urban Co., and Zauba Technologies and Data Services Pvt. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1 Executive Summary

  • 1.1 Market Overview 
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem 
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market Definition 
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026 
    • Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary 
    • Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers 
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers 
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants 
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes 
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry 
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition 
    • Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Type

  • 5.1 Market segments 
    • Exhibit 24: Chart on Type – Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Type – Market share 2021-2026 (%)
  • 5.2 Comparison by Type 
    • Exhibit 26: Chart on Comparison by Type
    • Exhibit 27: Data Table on Comparison by Type
  • 5.3 Home care and design – Market size and forecast 2021-2026
    • Exhibit 28: Chart on Home care and design – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 29: Data Table on Home care and design – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 30: Chart on Home care and design – Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Home care and design – Year-over-year growth 2021-2026 (%)
  • 5.4 Repair and maintenance – Market size and forecast 2021-2026 
    • Exhibit 32: Chart on Repair and maintenance – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 33: Data Table on Repair and maintenance – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 34: Chart on Repair and maintenance – Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Repair and maintenance – Year-over-year growth 2021-2026 (%)
  • 5.5 HWB – Market size and forecast 2021-2026
    • Exhibit 36: Chart on HWB – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 37: Data Table on HWB – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 38: Chart on HWB – Year-over-year growth 2021-2026 (%)
    • Exhibit 39: Data Table on HWB – Year-over-year growth 2021-2026 (%)
  • 5.6 Others – Market size and forecast 2021-2026
    • Exhibit 40: Chart on Others – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 41: Data Table on Others – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 42: Chart on Others – Year-over-year growth 2021-2026 (%)
    • Exhibit 43: Data Table on Others – Year-over-year growth 2021-2026 (%)
  • 5.7 Market opportunity by Type 
    • Exhibit 44: Market opportunity by Type ($ billion)

6 Customer Landscape

  • 6.1 Customer landscape overview 
    • Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation 
    • Exhibit 46: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison 
    • Exhibit 48: Chart on Geographic comparison
    • Exhibit 49: Data Table on Geographic comparison
  • 7.3 APAC – Market size and forecast 2021-2026 
    • Exhibit 50: Chart on APAC – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 51: Data Table on APAC – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 52: Chart on APAC – Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on APAC – Year-over-year growth 2021-2026 (%)
  • 7.4 North America – Market size and forecast 2021-2026
    • Exhibit 54: Chart on North America – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 55: Data Table on North America – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 56: Chart on North America – Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on North America – Year-over-year growth 2021-2026 (%)
  • 7.5 Europe – Market size and forecast 2021-2026
    • Exhibit 58: Chart on Europe – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 59: Data Table on Europe – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 60: Chart on Europe – Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Europe – Year-over-year growth 2021-2026 (%)
  • 7.6 South America – Market size and forecast 2021-2026
    • Exhibit 62: Chart on South America – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 63: Data Table on South America – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 64: Chart on South America – Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on South America – Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa – Market size and forecast 2021-2026 
    • Exhibit 66: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 67: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 68: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
  • 7.8 US – Market size and forecast 2021-2026
    • Exhibit 70: Chart on US – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 71: Data Table on US – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 72: Chart on US – Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on US – Year-over-year growth 2021-2026 (%)
  • 7.9 China – Market size and forecast 2021-2026
    • Exhibit 74: Chart on China – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 75: Data Table on China – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 76: Chart on China – Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on China – Year-over-year growth 2021-2026 (%)
  • 7.10 Germany – Market size and forecast 2021-2026
    • Exhibit 78: Chart on Germany – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 79: Data Table on Germany – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 80: Chart on Germany – Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on Germany – Year-over-year growth 2021-2026 (%)
  • 7.11 India – Market size and forecast 2021-2026
    • Exhibit 82: Chart on India – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 83: Data Table on India – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 84: Chart on India – Year-over-year growth 2021-2026 (%)
    • Exhibit 85: Data Table on India – Year-over-year growth 2021-2026 (%)
  • 7.12 UK – Market size and forecast 2021-2026
    • Exhibit 86: Chart on UK – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 87: Data Table on UK – Market size and forecast 2021-2026 ($ billion)
    • Exhibit 88: Chart on UK – Year-over-year growth 2021-2026 (%)
    • Exhibit 89: Data Table on UK – Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography 
    • Exhibit 90: Market opportunity by geography ($ billion)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges 
    • Exhibit 91: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape 
    • Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption 
    • Exhibit 93: Overview on factors of disruption
  • 9.4 Industry risks 
    • Exhibit 94: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered 
    • Exhibit 95: Vendors covered
  • 10.2 Market positioning of vendors 
    • Exhibit 96: Matrix on vendor position and classification
  • 10.3 Amazon.com Inc. 
    • Exhibit 97: Amazon.com Inc. – Overview
    • Exhibit 98: Amazon.com Inc. – Business segments
    • Exhibit 99: Amazon.com Inc. – Key news
    • Exhibit 100: Amazon.com Inc. – Key offerings
    • Exhibit 101: Amazon.com Inc. – Segment focus
  • 10.4 Angi Inc. 
    • Exhibit 102: Angi Inc. – Overview
    • Exhibit 103: Angi Inc. – Business segments
    • Exhibit 104: Angi Inc. – Key offerings
    • Exhibit 105: Angi Inc. – Segment focus
  • 10.5 AskforTask Inc. 
    • Exhibit 106: AskforTask Inc. – Overview
    • Exhibit 107: AskforTask Inc. – Product / Service
    • Exhibit 108: AskforTask Inc. – Key offerings
  • 10.6 Frontdoor Inc. 
    • Exhibit 109: Frontdoor Inc. – Overview
    • Exhibit 110: Frontdoor Inc. – Product / Service
    • Exhibit 111: Frontdoor Inc. – Key offerings
  • 10.7 Gapoon Online Consumer Services Pvt. Ltd.
    • Exhibit 112: Gapoon Online Consumer Services Pvt. Ltd. – Overview
    • Exhibit 113: Gapoon Online Consumer Services Pvt. Ltd. – Product / Service
    • Exhibit 114: Gapoon Online Consumer Services Pvt. Ltd. – Key offerings
  • 10.8 Home Reno Pte. Ltd. 
    • Exhibit 115: Home Reno Pte. Ltd. – Overview
    • Exhibit 116: Home Reno Pte. Ltd. – Product / Service
    • Exhibit 117: Home Reno Pte. Ltd. – Key offerings
  • 10.9 Johns Lyng Group Ltd. 
    • Exhibit 118: Johns Lyng Group Ltd. – Overview
    • Exhibit 119: Johns Lyng Group Ltd. – Business segments
    • Exhibit 120: Johns Lyng Group Ltd. – Key offerings
    • Exhibit 121: Johns Lyng Group Ltd. – Segment focus
  • 10.10 Paintzen Inc. 
    • Exhibit 122: Paintzen Inc. – Overview
    • Exhibit 123: Paintzen Inc. – Product / Service
    • Exhibit 124: Paintzen Inc. – Key offerings
  • 10.11 The Home Depot Inc. 
    • Exhibit 125: The Home Depot Inc. – Overview
    • Exhibit 126: The Home Depot Inc. – Product / Service
    • Exhibit 127: The Home Depot Inc. – Key offerings
  • 10.12 Urban Co. 
    • Exhibit 128: Urban Co. – Overview
    • Exhibit 129: Urban Co. – Product / Service
    • Exhibit 130: Urban Co. – Key offerings

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist 
    • Exhibit 131: Inclusions checklist
    • Exhibit 132: Exclusions checklist
  • 11.3 Currency conversion rates for US$ 
    • Exhibit 133: Currency conversion rates for US$
  • 11.4 Research methodology 
    • Exhibit 134: Research methodology
    • Exhibit 135: Validation techniques employed for market sizing
    • Exhibit 136: Information sources
  • 11.5 List of abbreviations 
    • Exhibit 137: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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