Home Service Market in US to record USD 1.08 Bn incremental growth; Market to have fragmented structure -- Technavio

NEW YORK, Oct. 20, 2022 /PRNewswire/ -- The "Home Service Market in US by Distribution Channel and Type - Forecast and Analysis - 2022-2026" report has been added to Technavio's offering. The report expects the market size to accelerate at a CAGR of 36.22% between 2021 and 2026 and observe an incremental growth of USD 1.08 billion during the forecast period. According to the report, the market is fragmented due to the presence of several vendors who are consistently focusing on increasing their footprint. Our full report offers a comprehensive analysis of the vendor landscape, key product launches, successful growth strategies adopted by vendors, and the impact of the pandemic on businesses operating in the market. Buy Full Report Here

Although the increasing influence of digital media will offer immense growth opportunities, the high competition among vendors will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The market is competitive and fragmented in nature. Global vendors operating in the market are focusing on expanding their presence and the regional vendors are finding it increasingly difficult to compete with them, particularly on parameters such as quality, pricing, market reach, and financial resources. The competition in the market is expected to further increase over the forecast period with the increase in product and service extensions and product innovations among vendors. Also, the high growth opportunity in the market is expected to attract many new players during the forecast period. In addition, the high competition and advancements in technology will affect the growth of vendors, making it imperative to distinguish their product and service offerings through a clear and unique value proposition, the lack of which can threaten their growth in market share.

Technavio identifies 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 as major market participants. Understand how the purchase of the report can have a direct impact on your revenue. Request Sample Report Here

Home Service Market in US 2022-2026: Segmentation

The home service market in US is segmented as below:

• Distribution Channel
• Online
• Offline

The online distribution channel accounted for the largest share of the market in 2021. The segment is driven by the ease of convenience of availing and accessibility provided by online home service providers. The market growth in the segment will be significant over the forecast period.

• Type 
• Home Care and Design
• Repair And Maintenance
• HW And B
• Others

By type, the home care and design segment will generate the maximum revenue in the market over the forecast period. The segment is driven by the increased demand for services such as interior designing, pest control, home deep cleaning, sofa cleaning, laundry services, glasswork, woodwork, waterproofing, masonry, and carpentry. In addition, the emergence of players aided with innovative service offerings such as robotic cleaning, deep cleaning, painting and carpentry is contributing to the segment's growth.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our home service market in US report covers the following areas:

• Home Service Market Size
• Home Service Market Trends
• Home Service Market Industry Analysis

Home Service Market in US 2022-2026: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the home service market in US, including some of the vendors such as vendors Backed with competitive intelligence and benchmarking, our research report on the Home Service Market in US is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

Technavio's library includes over 17,000+ reports covering more than 2,000 emerging technologies. Subscribe to our "Basic Plan" at Just USD 5000 and get lifetime access to our Technavio Insights.

Home Service Market in US 2022-2026: Key Highlights

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will assist home service market growth in US during the next five years
• Estimation of the home service market size in US and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the home service market in US
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of home service market in US vendors

Related Reports:

Global Online On-demand Home Services Market 2022-2026: The global online on-demand home services market is segmented by service (home care and design, repair and maintenance, health, wellness, and beauty, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The home care and design segment will account for maximum revenue generation. APAC will have the largest market share. View Report Snapshot Here

Global Home Services Market 2022-2026: The global home services market is segmented by type (home care and design, repair and maintenance, HWB, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The market growth will be significant in the home care and design segment. APAC has the largest market share. View Report Snapshot Here

Table Of Contents :

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 10: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 11: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 12: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 13: Chart on US: Year-over-year growth 2021-2026 (%)
• Exhibit 14: Data Table on US: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 15: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers
• Exhibit 16: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers
• Exhibit 17: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants
• Exhibit 18: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes
• Exhibit 19: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 20: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 21: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Distribution Channel

• 5.1 Market segments
• Exhibit 22: Chart on Distribution Channel - Market share 2021-2026 (%)
• Exhibit 23: Data Table on Distribution Channel - Market share 2021-2026 (%)

• 5.2 Comparison by Distribution Channel
• Exhibit 24: Chart on Comparison by Distribution Channel
• Exhibit 25: Data Table on Comparison by Distribution Channel

• 5.3 Online - Market size and forecast 2021-2026
• Exhibit 26: Chart on Online - Market size and forecast 2021-2026 ($ million)
• Exhibit 27: Data Table on Online - Market size and forecast 2021-2026 ($ million)
• Exhibit 28: Chart on Online - Year-over-year growth 2021-2026 (%)
• Exhibit 29: Data Table on Online - Year-over-year growth 2021-2026 (%)

• 5.4 Offline - Market size and forecast 2021-2026
• Exhibit 30: Chart on Offline - Market size and forecast 2021-2026 ($ million)
• Exhibit 31: Data Table on Offline - Market size and forecast 2021-2026 ($ million)
• Exhibit 32: Chart on Offline - Year-over-year growth 2021-2026 (%)
• Exhibit 33: Data Table on Offline - Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Distribution Channel
• Exhibit 34: Market opportunity by Distribution Channel ($ million)

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 35: Chart on Type - Market share 2021-2026 (%)
• Exhibit 36: Data Table on Type - Market share 2021-2026 (%)

• 6.2 Comparison by Type
• Exhibit 37: Chart on Comparison by Type
• Exhibit 38: Data Table on Comparison by Type

• 6.3 Home care and design - Market size and forecast 2021-2026
• Exhibit 39: Chart on Home care and design - Market size and forecast 2021-2026 ($ million)
• Exhibit 40: Data Table on Home care and design - Market size and forecast 2021-2026 ($ million)
• Exhibit 41: Chart on Home care and design - Year-over-year growth 2021-2026 (%)
• Exhibit 42: Data Table on Home care and design - Year-over-year growth 2021-2026 (%)

• 6.4 Repair and maintenance - Market size and forecast 2021-2026
• Exhibit 43: Chart on Repair and maintenance - Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Data Table on Repair and maintenance - Market size and forecast 2021-2026 ($ million)
• Exhibit 45: Chart on Repair and maintenance - Year-over-year growth 2021-2026 (%)
• Exhibit 46: Data Table on Repair and maintenance - Year-over-year growth 2021-2026 (%)

• 6.5 HW and B - Market size and forecast 2021-2026
• Exhibit 47: Chart on HW and B - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Data Table on HW and B - Market size and forecast 2021-2026 ($ million)
• Exhibit 49: Chart on HW and B - Year-over-year growth 2021-2026 (%)
• Exhibit 50: Data Table on HW and B - Year-over-year growth 2021-2026 (%)

• 6.6 Others - Market size and forecast 2021-2026
• Exhibit 51: Chart on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Data Table on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 53: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 54: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 6.7 Market opportunity by Type
• Exhibit 55: Market opportunity by Type ($ million)

7 Customer Landscape

• 7.1 Customer landscape overview
• Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges
• Exhibit 57: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 58: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 59: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 60: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 61: Vendors covered

• 10.2 Market positioning of vendors
• Exhibit 62: Matrix on vendor position and classification

• 10.3 Ace Handyman Services
• Exhibit 63: Ace Handyman Services - Overview
• Exhibit 64: Ace Handyman Services - Product / Service
• Exhibit 65: Ace Handyman Services - Key offerings

• 10.4 Amazon.com Inc.
• Exhibit 66: Amazon.com Inc. - Overview
• Exhibit 67: Amazon.com Inc. - Business segments
• Exhibit 68: Amazon.com Inc. - Key news
• Exhibit 69: Amazon.com Inc. - Key offerings
• Exhibit 70: Amazon.com Inc. - Segment focus

• 10.5 American Home Shield Corp.
• Exhibit 71: American Home Shield Corp. - Overview
• Exhibit 72: American Home Shield Corp. - Product / Service
• Exhibit 73: American Home Shield Corp. - Key offerings

• 10.6 Handy Technologies Inc.
• Exhibit 74: Handy Technologies Inc. - Overview
• Exhibit 75: Handy Technologies Inc. - Product / Service
• Exhibit 76: Handy Technologies Inc. - Key offerings

• 10.7 HomeServe Plc
• Exhibit 77: HomeServe Plc - Overview
• Exhibit 78: HomeServe Plc - Product / Service
• Exhibit 79: HomeServe Plc - Key offerings

• 10.8 Ingka Holding B.V.
• Exhibit 80: Ingka Holding B.V. - Overview
• Exhibit 81: Ingka Holding B.V. - Product / Service
• Exhibit 82: Ingka Holding B.V. - Key offerings

• 10.9 Reliance Network and Home Services of America
• Exhibit 83: Reliance Network and Home Services of America - Overview
• Exhibit 84: Reliance Network and Home Services of America - Product / Service
• Exhibit 85: Reliance Network and Home Services of America - Key offerings

• 10.10 TechCrunch
• Exhibit 86: TechCrunch - Overview
• Exhibit 87: TechCrunch - Product / Service
• Exhibit 88: TechCrunch - Key offerings

• 10.11 The Home Depot Inc.
• Exhibit 89: The Home Depot Inc. - Overview
• Exhibit 90: The Home Depot Inc. - Product / Service
• Exhibit 91: The Home Depot Inc. - Key offerings

• 10.12 Yelp Inc
• Exhibit 92: Yelp Inc - Overview
• Exhibit 93: Yelp Inc - Product / Service
• Exhibit 94: Yelp Inc - Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist
• Exhibit 95: Inclusions checklist
• Exhibit 96: Exclusions checklist

• 11.3 Currency conversion rates for US$
• Exhibit 97: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 98: Research methodology
• Exhibit 99: Validation techniques employed for market sizing
• Exhibit 100: Information sources

• 11.5 List of abbreviations
• Exhibit 101: List of abbreviations

• adoption of multichannel marketing strategies: The key vendors in the market are striving to expand their target customer base by investing in marketing and promotional activities. Large specialized consumer service providers aim at strengthening their presence by investing in brand visibility activities, celebrity endorsements, and marketing through channels such as television, radio, the Internet, print media, posters, and direct mails. The competitors also use a targeted advertising approach and launch advertisements that are designed and crafted to promote the services and communicate the brand positioning.

• attrition and training: Professional, skilled, and unskilled workforce is required to provide specialized consumer services. However, there is a shortage of skilled and professional workforce to meet the demand. For instance, in security services, a skilled workforce is required when new monitoring devices and security gadgets are developed and adopted. Several vendors provide rigorous training to their employees about the handling of critical tasks while serving specialized consumer services. However, the retention of such a workforce is a major challenge.

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.

Technavio Research
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SOURCE Technavio