USD 50.49 billion growth in Online On-demand Home Services Market in Malaysia | Home care and design segment to create maximum opportunities | Technavio

NEW YORK, March 14, 2023 /PRNewswire/ -- The online on-demand home services market size in Malaysia is expected to increase by USD 50.49 billion between 2020 and 2055. The market observed a YOY growth of 42.93% in 2021 and the growth momentum is expected to accelerate at a CAGR of 55.29% during the forecast period. The report offers a detailed analysis of the market size, the current and future market scenarios, and the YOY growth rates through 2025.

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The online on-demand home services market in Malaysia is fragmented and is characterized by the presence of numerous local and international vendors. The vendors in the market are aiming to expand their customer base to increase their revenues. They are also forming strategic alliances with other players to increase their market shares as well as profitability. Search engine optimization and social media advertising are some of the other key strategies adopted by vendors in the market.

Technavio identifies ADVANCE DREAMS VENTURE Sdn Bhd, Breezy Clean Homes, Business Pixel Sdn Bhd, Clinfess Enterprise, EasyFix, Grab Maid Tech Sdn Bhd, Kaodim, LocalService Malaysia, M4U SERVICES Sdn Bhd, and Maideasy Sdn Bhd as dominant players in the market. Factors such as the advantages of online on-demand home services, increasing internet penetration, and the increasing influence of digital media will offer immense growth opportunities to market players. However, the high competition among vendors and the lack of a standard pricing model 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.

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Online On-demand Home Services Market in Malaysia 2021-2025: Segmentation

Online On-demand Home Services Market in Malaysia is segmented as below:

• Service 
• Home Care and Design
• Repair and Maintenance
• HWB
• Others
• Platform 
• Mobile Applications
• Online Website

By service, the home care and design segment accounted for the maximum market share in 2021. The changes in consumer lifestyles and the rise in disposable incomes are driving the demand for online on-demand home care and design services in Malaysia. Besides, the increasing time spent at home led by the adoption of the work-from-home policy has further increased the demand for on-demand home services in the country, which is contributing to the growth of the segment.

By platform, the mobile application segment will have the largest share of the market. The increased use of mobile applications, the high adoption of smartphones, and the rising penetration of the internet is fostering the growth of the segment.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our online on-demand home services market in Malaysia report covers the following areas:

• Online On-demand Home Services Market size
• Online On-demand Home Services Market trends
• Online On-demand Home Services Market industry analysis

Online On-demand Home Services Market in Malaysia 2021-2025: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the online on-demand home services market in Malaysia. Backed with competitive intelligence and benchmarking, our research report on the Online On-demand Home Services Market in Malaysia is designed to provide entry support, customer profiles, and M&As as well as go-to-market strategy support.

Online On-demand Home Services Market in Malaysia 2021-2025: Key Highlights

• 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 Malaysia during the next five years
• Estimation of the online on-demand home services market size in Malaysia 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 in Malaysia
• 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 vendorsin Malaysia

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Online Household Furniture Market in the US by Product and Material - Forecast and Analysis 2022-2026

Table Of Contents :

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Service

• Market segments
• Comparison by Service
• Home care and design - Market size and forecast 2020-2025
• Repair and maintenance - Market size and forecast 2020-2025
• HWB - Market size and forecast 2020-2025
• Others - Market size and forecast 2020-2025
• Market opportunity by Service

Market Segmentation by Platform

• Market segments
• Comparison by Platform
• Mobile applications - Market size and forecast 2020-2025
• Online website - Market size and forecast 2020-2025
• Market opportunity by Platform
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• ADVANCE DREAMS VENTURE Sdn Bhd
• Breezy Clean Homes
• Business Pixel Sdn Bhd
• Clinfess Enterprise
• EasyFix
• Grab Maid Tech Sdn Bhd
• Kaodim
• LocalService Malaysia
• M4U SERVICES Sdn Bhd
• Maideasy Sdn Bhd

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us

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.

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SOURCE Technavio