NEW YORK, July 16, 2021 /PRNewswire/ —
Technavio’s latest report on the online on-demand home services market in Southeast Asia projects a growth of USD 258.47 billion, registering a CAGR of over 54% during 2021-2025. According to the report, the Specialized Consumer Services will have a NEGATIVE impact due to the continued spread of the COVID-19 pandemic. Also, the report provides a detailed analysis of the pre-and post-impact of COVID-19 on businesses.
The homecare and design and service segment will generate maximum revenue in the online on-demand home services market in Southeast Asia, owing to the increased demand for interior designing, pest control, home deep cleaning, sofa cleaning, laundry services, glasswork, woodwork, waterproofing, masonry, and carpentry services. In terms of geography, Singapore will present significant opportunities for market vendors due to the factors such as the rising urbanization rate, growth in the number of employment opportunities for women, and rising living standards.
Online On-demand Home Services Market in Southeast Asia: Major Growth Drivers
The following factors are expected to drive the growth of the market during the forecast period:
- Busy lifestyle propelling the demand for home services and solutions
- Increasing collaboration of offline home services vendors with online-home services vendors
- Advantages of online on-demand home services
Also, the increasing penetration of the internet and smartphones is expected to have a positive impact on the growth of the online on-demand home services market in Southeast Asia during 2021-2025. The number of internet users in Southeast Asian countries has increased significantly over the years. This can be attributed to the increased accessibility of the internet and the declining cost of smartphones. For instance, as of January 2020, the number of Internet users in Indonesia grew by over 170 million as compared to the number of Internet users in January 2019. Many such factors are creating significant growth opportunities for vendors operating in the Southeast Asian market.
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Online On-demand Home Services Market in Southeast Asia: Key Vendor Offerings
Amazon.com Inc.: The company offers online on-demand home services such as home theater setup and installation, furniture assembly, outdoor equipment assembly, and others.
APLUS CLEAN SOLUTIONS: The company offers online on-demand home services such as carpet cleaning, commercial cleaning, and general cleaning.
Business Pixel Sdn Bhd: The company offers online on-demand home services such as plumbing, handyman, home cleaning, electrical repair, and others.
Everyworks Services Pte. Ltd.: The company offers online on-demand home services such as aircon, plumbing, electrical, and handyman.
Grab Holdings Inc.: The company offers online on-demand home services such as air con service, cleaning service, and appliance repair.
Reasons to Buy Online On-demand Home Services Market in Southeast Asia Report:
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist online on-demand home services market growth in Southeast Asia during the next five years
- Estimation of the online on-demand home services market size in Southeast Asia and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the online on-demand home services market across Singapore, Malaysia, Indonesia, Thailand, and the Rest of South-East Asia
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of online on-demand home services market vendors in Southeast Asia
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Related Reports on Consumer Discretionary Include:
Online On-demand Home Services Market in Malaysia – Online on-demand home services market in Malaysia is segmented by service (home care and design, repair and maintenance, HWB, and others) and platform (mobile applications and online website).
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Global Online On-demand Home Services Market – 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 MEA).
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.
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