The increasing influence of digital media to boost Global Online Home Service Market Growth – Technavio – QNT Press Release

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NEW YORK, Sept. 30, 2022 /PRNewswire/ — The online home service market is expected to grow by USD 2.33 trillionat a CAGR of 44.36% during the forecast period. The increasing influence of digital media rising trend of online on-demand home services, and the rising demand for house help, particularly among the working population are one of the major factors propelling the market growth. However, factors such as high competition among vendors, lack of a standard pricing model, and reliability of vendors will hamper the market growth. Request Free Sample Report.

Online Home Service Market Driver

The rise of the online home service market is significantly being fueled by the expanding importance of digital media. Digital media has become a crucial communication and marketing tool for vendors operating in the worldwide online home service sector as a result of the rise of Internet-enabled smartphones. One of the key components of the marketing plan used by home service providers is service visibility.

In order to improve service visibility and drive revenues, several online home service providers are widely implementing digital media marketing methods. Technologically upgraded cellphones have a number of unique capabilities that assist online on-demand service providers to become more visible. During the projection period, the worldwide online home service market would rise at a faster rate due to the increased popularity of social media in a number of emerging markets. Buy Sample Report.

Online Home Service Market Revenue Segment

APAC will account for 47% of market growth. The two biggest markets in APAC for internet home services are China and India. This region’s market will expand more quickly than those in other areas. Over the projection period, the expansion of the online home service market in APAC would be made possible by its growth.

There will be a significant increase in the market share of online home services in the home care and design sector. In comparison to other sectors, such as repair and maintenance and health, wellness, and beauty, the home care and design segment of the global online home service market is anticipated to experience considerable growth throughout the forecast period.

This is a result of the increased demand for home design and maintenance servicessuch as interior decorating, pest control, thorough cleaning, couch cleaning, laundry services, glass, wood, and other metal work, as well as masonry and carpentry.

Online Home Service Market Vendors

• Amazon.com Inc.
• Angi Inc.
• AskforTask Inc.
• ByNext Inc.
• Cleaningly Home Services Pty Ltd.
• E Home Services
• Helpling GmbH and Co. KGA
• Home Reno Pte. Ltd.
• HomeServe Plc
• Houzz Inc.
• MyClean Inc.
• Oneflare Pty Ltd.

Find additional highlights on the growth strategies adopted by vendors and their product offerings, Download Free Sample Report.

What our reports offer:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Related Reports:
Home Service Market in US growth by Distribution Channel and Type – Forecast and Analysis – 2022-2026

Online Home Service Market Growth By – Forecast & Analysis – 2022-2026

Full story available on Benzinga.com

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