On-Demand Home Services Industry is expected to grow at a CAGR of ~9.7% in between 2022-2026: Ken Research
GURUGRAM, India, May 11, 2022 /PRNewswire/ --
Digital is the Future
Companies will continue to invest in digital marketing strategies to improve their service visibility and promoting sales. Advertisements on social media platforms such as YouTube, Instagram and Facebook will enable companies to enhance brand awareness and attract potential customers. Internet penetration is high in UAE, almost 99% of the population use internet. Around 51% individuals purchased a product or service online via a smartphone which indicates the customers' continued reliance to procure products or services online due to increasing convenience and accessibility.
Ease of Market Entry
In 2021, the regulations of provision for establishing a new company allows any individual of any origin to hold 100% ownership of the business. It does not require to partner with an Emirati to register the company. Companies now have reduced entry barrier to enter the industry, which is still at a nascent stage and is expected to grow.
UAE Home Cleaning Services Market Offer
Increase in vertical expansion of service offerings such as introducing cooks and chefs who specialize in particular cuisine; baking at home services, providing tuitions, etc. could be booked online on-demand. Merging with food delivery and grocery marketplaces to expand its services offerings will give a new meaning to on-demand home services. Marketplaces will aim to increase the number of bookings of beauty services, as the average ticket size for these services is higher than cleaning services. Promotional offers and discounts would be offered to attract new customers.
Increase in development of residential real estate market
It is forecasted that the residential real estate market in UAE would increase ~10% in the next 5 years. Also, it is predicted that the real estate prices will reduce in the region. This will led to shift to households from 1bhk to 2 bhk apartments, leading to an increase in the demand for on-demand home services. Government incentives such as special investor and retirement visas, golden long-term visas, as well as the reduction of the loan-to-value (LTV) for first time homebuyers to 20% by the UAE Central Bank, low interest rates and competitive mortgage products will give a boost to the industry.
The publication titled "UAE On-Demand Home Services Industry: Driven by changing consumer lifestyle and increasing adoption of digitally enabled services" provides a comprehensive analysis of the on-demand home services industry by analyzing historical statistics and corresponding developments in the on-demand home services market. The market growth spiked during COVID as people were reluctant to step out of their houses. People preferred booking home services online directly from these marketplaces or service providers. Given the fragmented completion structure in the on-demand home services industry, analysts have elaborated on competitive landscape of major marketplaces and service providers on the basis of services offered and operational parameters. The report also covers a snapshot on marketplace and service providers business model, value chain analysis, growth drivers, Porters 5 forces analysis, impact of COVID-19 and factors governing the future outlook of industry. The report also provides comprehensive insight on the market size and segmentation of the industry. The report highlights the pain points of the on-demand home services industry along with detailed company profiles of major service providers and marketplaces. The report concludes with projections for future industry market size, market segmentations and analyst take on future market scenario.
Key Segments Covered in UAE On-Demand Home Services Industry:-
- By Type of Services
- Cleaning
- Repair and Maintenance
- Beauty
- Others
- By Geography
- Dubai
- Abu Dhabi
- Others
- By Deployment
- Online
- Offline
Request for Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTI0MDUx
Time Period Captured in the Report:-
- Historical Period: 2017-2021
- Forecast Period: 2022F-2026F
UAE On-Demand Home Services Players
- Marketplaces
- Justlife
- Urban Company
- ServiceMarket
- Rizek
- Usta
- Service Providers
- Hitches and Glitches
- MPlus
- Elite Maids
- Helpsters Cleaning Services
Key Topics Covered in the Report:-
- Socio-economic Landscape of UAE
- Evolution of UAE On-Demand Home Service Industry
- Ecosystem of UAE On-Demand Home Service Industry
- Future Outlook of On-Demand Home Services Industry
- UAE On-Demand Home Service major entities Business Model
- Market Size of On-Demand Home Services Industry by Revenue
- Demand Drivers and Trends in On-Demand Home Services Industry
- Impact of COVID on demand and user preferences in the On-Demand Home Services Industry
- Trends and Developments in On-Demand Home Services Industry
- Challenges faced in the On-Demand Home Services Industry
- Government Rules and Regulations in the On-Demand Home Services Industry
- Impact of COVID-19 on the On-Demand Home Services Industry
- Comparison of Pre and Post COVID scenarios
- Competitive Scenario of the On-Demand Home Services Industry
- Competition in On-Demand Home Services Marketplace
- Competition among On-Demand Home Services Providers
- Case Study on Urban Company Business Model
- Future Trends and Market Size of On-Demand Home Services Industry by Revenue
- Future Market Segmentation of On-Demand Home Services Industry by type of services, geography, deployment
- Industry speaks
- Analyst Recommendations
- Dubai On-Demand Home Services Market
- Abu Dhabi On-Demand Home Services Market
- Online On-Demand Home Services Market
- Offline On-Demand Home Services Market
- UAE On-Demand Home Repair and Maintenance Services Market
- UAE Home Services Market
- UAE Home Services Industry Report
- Dubai Home Services Industry
- Abu Dhabi Home Services Market
- UAE On-Demand Home Cleaning Services Market
- Beauty Home Cleaning Services Market
- Urban Company Home Cleaning Services Market
- Elite Maids Home Cleaning Services Market
- Helpsters Home Cleaning Services Market
- Justlife Home Cleaning Services Market
- Rizek Home Cleaning Services Market
- Hitches and Glitches Home Cleaning Services Market
- MPlus Home Cleaning Services Market
- Middle East Home Cleaning Services Market
- UAE Home Cleaning Services Market
- Dubai Home Cleaning Services Market
- Abu Dhabi Home Cleaning Services Market
For More Information on the research report, refer to below link:-
UAE On-Demand Home Services Industry
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