Online Home Service Market Report and Forecast 2023-2028

According to the report the global online home service market reached a value of USD 4.18 billion in 2022. Aided by the rapidly advancing digital landscape and the increasing preference for convenience in service acquisition, the market is projected to further grow at a CAGR of 12.6% between 2023 and 2028 to reach a value of USD 8.19 billion by 2028.

Online home services refer to a spectrum of services, ranging from plumbing and electrical repairs to house cleaning and landscaping, that can be booked and scheduled via online platforms. These platforms, either through websites or mobile applications, connect skilled professionals with users in need of specific services. Besides merely serving as a bridge, they offer added value through features like customer reviews, transparent pricing, easy scheduling, and secure payment methods.

The shift towards a digital-first approach in various facets of life is propelling the global online home service market growth. As consumers grow more tech-savvy and appreciative of the ease and efficiency offered by digital solutions, there is an increased inclination to opt for services that can be conveniently booked and managed online. Furthermore, the current generation, with their hectic lifestyles, finds the traditional method of seeking and scheduling home services cumbersome, making online platforms a preferred choice.

The health and safety concerns brought about by the global pandemic have further enhanced the relevance of online home service platforms. As people became wary of direct interactions and sought contactless solutions, these platforms provided a safe way to access necessary home services without the risks associated with face-to-face interactions.

A vital aspect boosting the online home service market demand is the transparency and trust facilitated by these platforms. User reviews, ratings, and detailed profiles of service professionals help in establishing credibility. Customers can make informed decisions based on the experiences of others, ensuring they get the best service for their investment. Moreover, the clear pricing models prevent any hidden costs or unexpected charges, further bolstering consumer trust.

In addition to convenience and trust, the sheer variety of services available on these platforms is a considerable advantage, aiding the online home service market growth. A user can find solutions for diverse home-related needs, from renovation and interior design to pest control and appliance repair, all under one digital roof. This consolidates the search and decision-making process, saving both time and effort.

The rise of smart home integrations and the Internet of Things (IoT) is an emerging trend that could potentially shape the future of online home services. As homes become smarter, the need for specialised professional’s adept at installing, managing, and repairing smart systems will surge. Online platforms will inevitably adapt to cater to this niche but growing demand, further fuelling online home service market expansion.

Market Segmentation

The market can be divided based on type and region.

Market Breakup by Type

• Home Care and Design
• Repair and Maintenance
• Health, Wellness, and Beauty
• Packers, Movers, and Home Tutors

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global online home service companies. Some of the major key players explored in the report are as follows:

• TaskRabbit, Inc.
• Alfred Club, Inc.
• Handy Technologies, Inc.
• Mr Right Services Pvt Ltd
• Airtasker Pty.
• AskForTask Inc.
• Angie’s List, Inc.
• Rhodemore Ltd. (Cleanlyy)
• The Good Guys Stores
• UrbanClap Technologies India Pvt. Ltd.
• Others

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*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.