The demand for on-demand home services in the United States has transitioned from being a luxury to a necessity. With this surge in demand, it's crucial to identify the top ten trends currently shaping the home services industry in America today:
The US Home Services market is soaring
1.The on-demand home services market in the US is projected to grow at a CAGR of 49.4% from 2021 to 2028, reaching a market size of $1.7 billion by 2028.(Source: ResearchAndMarkets)
2.On-demand home service providers are expanding their service offerings to include more specialized and niche services, such as home cleaning, pet care, and home security. (Source: Bain)
Increasing adoption of mobile apps
3.The on-demand home services market in the US is being driven by the increasing adoption of mobile apps, with 60% of consumers preferring to use an app to book a home service. (Source: McKinsey)
Top home service marketplaces
4.Angie's List, HomeAdvisor, Thumbtack, Porch, TaskRabbit, Handy, Amazon Home Services, Yelp, Houzz and Nextdoor are the key players operating in the US home service market.
Growth of the gig economy
5.The on-demand home services market is part of the larger gig economy, which is projected to grow at a CAGR of 15% from 2021 to 2028. (Source: Statista)
Greater demand for consumer visibility
6.Consumers expect to be updated on their service requests through updates over SMS/email/App Notifications to Live Tracking and ETA updates.
Customer Satisfaction is Key
7.On-demand home service providers are focusing on improving the customer experience, with 78% of providers using customer reviews and ratings to measure service quality. (Source: McKinsey)
Growing popularity of the subscription-based model
8.On-demand home service providers are increasingly offering subscription-based models, with 42% of customers preferring a subscription-based service over a one-time service. (Source: McKinsey)
Need to leverage technology
9.On-demand home service providers are using artificial intelligence and automation to streamline processes and improve efficiency, with the market for AI in the home services industry projected to grow at a CAGR of 41.4% from 2021 to 2028. (Source: ResearchAndMarkets)
Emphasis on Sustainability
10.On-demand home service providers are placing a greater emphasis on sustainability, with a growing number of providers offering eco-friendly and sustainable services. (Source: Bain)
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