On-Demand Home Services Marketplace for 2020
This article was updated on February 10, 2020
Technavio latest report shows that on-demand home services market is expected to grow at a CAGR almost 52% by 2022. The reasons are given below:
Convenience at Door Step
Customers are becoming more comfortable by getting convenience at their doorsteps. On-demand giants like Uber, Airbnb, Handy, and many others have disrupted the industry by providing a simple, cost-effective, and advantageous platform for both the service providers and the customers.
The influence of the already available on-demand companies success is leading to gaining momentum as on-demand home services are shaping up as the next big market.
On-demand Platform: A Trustworthy Marketplace
On-demand home services apps are gaining popularity because of the convenience it provides to customers. TaskRabbit, Handy, Zaarly, Porch are few names that have gained fame as a successful on-demand platform as compared to traditional methods. Understanding the potential, Amazon is providing the vast pool of home services for optimal customer experience.
Growth Potential in Home Services
Home services have a high potential in the on-demand industry as it offers a wide range of features. On-demand home services provide solutions for cleaning, plumbing, electrical services, painting, appliance maintenance, and more.
The US online home services sector worth $600 billion. It is growing steadily and is expected to reach 49% by 2021.
In the current scenario, many consumers are using on-demand home services. The increasing number of on-demand customers is leading to a market surge in the coming years.
The customers of the on-demand services are the largest users of the internet. The busy lifestyle of people is inducing them to prefer on-demand services which are rising the market’s growth in the coming years.
The growth of this market is directly proportional to the increase of smartphones users through which customers get information and book services. Uber for home services, as they are often referred to, are bridging the gap between online and real world services. The on-demand home services include home maintenance services, cleaning services, handyman services, plumbing services and a lot more.
Customers become loyal depending on the services being provided. Therefore, service providers need to maintain excellent quality services.
The on-demand home services market has become competitive, which is fragmented into various segments. Competitors need to differentiate their product through value proposition and provide services of good quality.
Finally, business owners with better interface, design, and functionality can get a good market share and a large number of potential customers. Customers’ expectation is increasing due to the advancement in technology. Therefore, it is essential to adopt advanced technology to stay competitive.
Keeping up with the Customers
As millennial and subsequent generation prefers purchasing products or services through on-demand apps, traditional ways of getting services are reducing, and people who prefer on-demand services are increasing.
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Beat the Competition with Advanced Technologies
According to Forbes, 75% of the workforce will be comprised of millennial generation by 2025. The number of smartphone users and the use of the internet is increasing day by day. Companies need to always look for a competitive edge in technology while keeping an eye on the way to best serve their clients. ODTap is proud to have performed home services app development for multiple clients.
Former Luxuries have become Necessities today
Millennial age group prefers to get services through the on-demand app. They want to run their house like a business and are not willing to spend their weekends on cleaning homes or doing other home maintenance services themselves.
They get on-demand services for outsourcing the laundry, cleaning homes, and maintaining homes. The on-demand home services have become affordable, making it easier for customers to adopt efficient services.
We offer a large number of on-demand solution for many industries including home services. Our team of expert developers provides outstanding on-demand apps in the service industry. On-demand service apps have a significant influence on startups and customers.
If you want to get an app for your business, our on-demand app developers will be happy to assist you.