Latest News- Home Services Market: Home care and design is expected to lead the Type segment during 2025-2029

The Home Services Market is being driven by Increasing urbanization

The Home Services Market is expected to grow at a CAGR of 10.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1029.6 billion. The global home services market is experiencing a notable trend, with companies expanding their offerings to capture a larger market share. On March 1, 2023, Blinkit, a subsidiary of Zomato and a quick commerce platform, announced its entry into the home services sector. This strategic move includes services such as plumbing, electrical work, beautician services, and electronics repair. The initiative aims to diversify Blinkit's revenue streams and position it as a formidable competitor to established players like Urban Company, backed by Tiger Global. In another development, The Home Depot introduced a New Homeowners Hub on August 23, 2023, further intensifying the competition in the home services industry. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Home care and design
  • Repair and maintenance
  • HWB
  • Others
• Deployment
  • Offline
  • Online
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing urbanization
• Rising disposable income
• Aging housing infrastructure

However, the market also witnesses some limitations, which are as follows:

• Regulatory and compliance issues
• Skilled labor shortage
• Quality control and standardization

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Market Scope in Home Services Market Research Report

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Research Analysis Overview

In the Home Services sector, companies like Ginger, One Medical, Zimmber, and Timesaverz are leading the charge in the mobile segment, offering services ranging from home cleaning and landscaping to maintenance, repair, and improvement activities. These digital platforms prioritize health and welfare, providing non-cellular solutions through Internet-based e-commerce platforms and cloud-based solutions. Smartphones and m-commerce platforms enable seamless access to virtual versions of physical entities like plumbing, electrical work, and remodeling services, powered by Microsoft Azure and other technological solutions.

Market Research Overview

The specialized consumer services market encompasses the revenue generated by providers offering residential services, home security, legal, personal, renovation and interior design, consumer auction, wedding, and funeral services. According to Technavio's market analysis, this global sector excludes consumer services categorized under casino and gaming, hotels, resorts, and cruise lines; leisure facilities; restaurants; and education services. The report focuses on the financial performance of specialized consumer service providers, including home cleaning, home security, legal, personal, renovation and interior design, consumer auction, wedding, and funeral service companies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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Email: media@technavio.com
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