The home service market share in the US will post incremental growth of USD 1.08 billion, progressing at a CAGR of 36.22% during the forecast period. The increasing influence of digital media will offer immense growth opportunities to market vendors. The market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Home Service Market in US growth by Distribution Channel and Type - Forecast and Analysis - 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The home service market in the US is segmented by distribution channel (online and offline) and type (home care and design, repair and maintenance, HW and B, and others).
The growth of the home service market size in the US by the online segment will be significant during the forecast period. The growth of the segment is driven by the factors such as ease of convenience of availing and accessibility provided by these services.
The increasing influence of digital media will directly influence the home service market in the US. In addition, the increasing number of advertising and marketing campaigns is one of the major home service market trends in the US that will positively impact the market growth. However, factors such as the high competition among vendors will hamper the home service market growth in the US.
The market is fragmented due to the presence of several players. Some of the major home service market vendors in the US are Ace Handyman Services, Amazon.com Inc., American Home Shield Corp., Angi Inc., Chemed Corp., Handy Technologies Inc., Handyman Connection, HOMEE Inc., HomeServe Plc, Ingka Holding B.V., Mister Sparky Franchising SPE LLC, Reliance Network and Home Services of America, Smiths Plumbing Services, TechCrunch, The Home Depot Inc., USA Plumbing Service, and Yelp Inc
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the home service market in the US forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the home service market in the US share.
Prediction of the upcoming trends, drivers, and factors that challenge the US home service market growth.
Home service industry growth across the US.