The global online on-demand home services market is expected to post a CAGR of almost 53% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global online on-demand home services market 2020-2024. (Graphic: Business Wire)
The market is witnessing an increase in the number of startups as a result of increased seed funding in the form of investments. These startups are introducing attractive offers and interactive platforms to engage more customers and drive revenue. For instance, startups such as Houzz, Porch, and Pro help customers to connect with professional contractors to avail a wide range of household improvement services. The proliferation of such startups is one of the key factors fueling the growth of the global online on-demand home services market.
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As per Technavio, the increasing influence of digital media will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Online On-Demand Home Services Market: Increasing Influence of Digital Media
The growing adoption of smartphones is encouraging vendors to leverage digital media marketing to improve visibility and sales. Vendors are sending customers push messages and e-mails that contain information about new services and offers to promote their business. They are also leveraging social media platforms such as YouTube, Facebook, Twitter, Instagram, and others for service promotions and campaigns. Such marketing efforts are improving consumer engagement, thereby increasing awareness about the services offered by the vendors. The rising popularity of digital media is expected to positively influence the growth of the market during the forecast period.
"Rising number of advertising and marketing campaigns and increasing investments in M&A activities will further boost market growth during the forecast period," says a senior analyst at Technavio.
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Global Online On-Demand Home Services Market: Segmentation Analysis
This market report segments the global online on-demand home services marketby geography (APAC, Europe, MEA, North America, and South America) and service (home care and design; repair and maintenance; health, wellness, and beauty; and others).
The APAC region led the market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the rising number of smartphone and internet users in the region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Customer Landscape
Geographical Segmentation
- Geographic comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Landscape disruption
- Competitive scenario
Vendor Analysis
- Vendors covered
- Vendor classification
- Market positioning of vendors
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191126005540/en/
Contacts:
Technavio Research
Jesse Maida
Media Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: https://www.technavio.com/
