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.).
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.