An online service or a Software as a Service (SaaS), is provided with the help of a software application running online, and also making facilities available to users over the internet via an interface. In other words, these online services refer to any information or services provided over the internet allowing subscribers to communicate with each other, further providing unlimited access to all information. These services can be both simple and complex and may help subscribers gain required data through a search engine with both free as well as paid services available for customers. Online services provide an infrastructure that helps subscribers communicate with one another, through exchange of e-mail messages or by participation in online forums or conferences.
Additionally, the service helps connecting users with a large number of third-party information providers. Home demand services are gaining popularity as a result of their time-saving capabilities that help customers in accessing the needed services quickly and in a cost-effective way. The online on-demand home services allow customers to experience different services within the comfort of their homes with the help of only one click, further saving both time and money. The global online on-demand home services market can be segmented into type, services, and geography. In terms of type, the market can be segmented into cellular and non-cellular. In terms of services, the market can be segmented into food, retail, media & entertainment, healthcare, carpentry, beauty, and home welfare.
In terms of geography, the global online on-demand home services market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Digital influence in most aspects of our lives has resulted in its applications being more profound. Rising demands of customers to avail a diverse range of services that include retail and finance to watching movies from the confines of their homes has led to the growth of new companies that cater to these demands. This has been a major factor contributing to the overall expansion of the market. Leveraging the technological dependency, it is the availability, reliability along with the quality of products that has boosted the demand for products available online. This has helped customers to opt for online home services to avail a higher level of service at a certain price along with providing faster payment options.
Increasing usage of smartphones along with its increasing demand and applications have also played a major part in enhancing the demand for this market. Additionally, it is the restraints associated with the market that pose challenges. A major restraint is anticipated to be the highly fragmented nature of the market that poses challenges in building customer’s trust. Another important factor is projected to be security issues and fraud associated with online applications that are estimated to have a negative impact on the overall market. It is anticipated that the rising demand for easier accessibility of products is likely to pave the way for more opportunities in the near future.
In terms of geography, North America followed by Europe forms two of the key regions that has positively impacted this market. Easier accessibility of products and services along with quick payment options have been some crucial factors to positively affect the market. Asia Pacific is another important market that is also expanding rapidly as compared to other markets globally. China, India, and Korea are a few important countries contributing to the rise in market demand. Increasing internet penetration along with development of technologically advanced apps to deliver timely services have been key factors fueling the demand for online on-demand home services in the Asia Pacific market.
Key players operating in the global online on-demand home services market include Handy (U.S.), Hello Alfred (U.S.), Amazon (U.S.), and YourMechanic (U.S.).