Global Online On-demand Home Services Market 2017-2021
About Online On-demand Home Services
On-demand services encompass all digitally based marketplaces (primarily mobile) that offer convenient access to and/or fulfillment of goods and services. The most popular online home services include home cleaning, pest control, laundry services, appliances repair, fitness, beauty, plumbing, electrical, painting, carpentry, beauty, mobile repair, and computer repair services.
Technavio’s analysts forecast the global online on-demand home services market to grow at a CAGR of 48.46% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global online on-demand home services market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of online on-demand home services.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Online On-demand Home Services Market 2017-2021
Technavio recognizes the following companies as the key players in the global online on-demand home services market: Handy, Hello Alfred, Helpling, YourMechanic, and Zaarly
Other Prominent Vendors in the market are: Airtasker, AskForTask, CLEANLY, Laurel & Wolf, MyClean, Paintzen, SERVIZ, ServiceWhale, Taskbob, and TaskEasy
Commenting on the report, an analyst from Technavio’s team said: “The on-demand economy is catching in various developed and developing countries with various start-ups evangelizing various niche services in the hyperlocal space. Right from grocery and handyman services to salons, everything in tier 1 cities is now accessible on-the-go. To capture the new billion-dollar beauty service market, various start-ups have emerged in the last two years. Due to busy lives, many professional women tend to prefer availing of beauty services at home. Busy lifestyles, strong economic backgrounds, rise in consumerism, and relatively better incomes are the factors that enable the growth of on-demand beauty space. Within a short span, the on-demand beauty service segment had significant adoption. However, the segment is also gearing toward market consolidation. During the forecast period, while a couple of on-demand beauty start-ups will arise as leaders and a few players will get consolidated, the remaining may be subjected to a shutdown.”
According to the report, due to the easy convenience and accessibility, the demand for online on-demand home services is increasing. The on-demand services seem to be quite popular with the present generation, as they are the largest consumers of the internet services. Consumers can raise a request for home service that they are looking for through the use of web or app. The popular on-demand home services include beauty, fitness, laundry, appliances, home cleaning, pest control, automobile repairs, plumbing, electrical, painting, carpentry, mobile repair, and computer repair.
Further, the report states that the global online on-demand home services market is very fragmented. The profit margin in on-demand economy is less. Scaling up is an important factor for the profit of the business. Due to the existence of well-funded vendors in this market, it is very difficult for the non-funded start-ups to scale up the business. Lack of scale and poor unit economics are reasons for venture capitalist's lethargy toward verticals in the on-demand space. Verticals in the on-demand space are tough to scale up as demand is not consistent. Few of on-demand home services companies have shut down their operations because of poor demand and to curb their burn rate. Moreover, on-demand players do not have the product/market fit, and hence layoffs, down-scaling, and shut down are only a natural progression.
Handy, Hello Alfred, Helpling, YourMechanic, Zaarly, Airtasker, AskForTask, CLEANLY, Laurel & Wolf, MyClean, Paintzen, SERVIZ, ServiceWhale, Taskbob, and TaskEasy