KSA's On-Demand Home Service Market Set to Cross $3 Billion by 2027: How Will Busy Lifestyles Shape the Market Future? Ken Research
GURUGRAM, India, July 5, 2023 /PRNewswire/ -- KSA On-Demand Home Service Market is at growing stage and has fragmented market. There are ~800+ services providers and ~10 marketplaces in the Market.
Top 3 players such as Healthy Homes, Muheel and Urban Company in market hold major share. The market is largely driven by Prevalence of Diseases, Convenience and Accessibility. The players compete with each other on the basis of its Business USP, Services Catered, Booking Mode, Ratings on App, etc.
1. Untapped Potential: The 30% On-Demand Home Services Market That Still Prefers Full-Time Maids and Unorganized Workers.
The complete potential market comprises the entire population, with an average household size of 5.2 individuals. In the Kingdom of Saudi Arabia, majority of the households are considered a serviceable addressable market for cleaning services, excluding those residing in rural areas or those with lower incomes.
Around 30% of the industry remains untapped, as the majority of these households already have full-time maids or established contacts with unorganized service workers. Consequently, they do not prefer to book on-demand home services through marketplaces or service providers.
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2. The Competitive Landscape of On-Demand Home Services Industry: A Battle for Service Quality and Price Dominance Between Marketplaces and Service Providers.
The likelihood of a new competitor entering the market is moderate to low due to the dominance of over 800 existing offline service providers, who hold a majority of the market share. The market is highly fragmented, with unorganized players comprising more than half of the industry and offering home services at lower prices. Organized players also offer similar services at competitive prices.
In this industry, references and word-of-mouth recommendations are crucial. Many well-established service providers have a loyal customer base, resulting in a higher customer retention rate. There are numerous marketplaces and service providers that offer on-demand home services, making it easy for customers to switch between them. The market is highly competitive, with players having a wide presence across the country. Customers are always on the lookout for better discounts or promotional offers.
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Market Taxonomy
KSA On-Demand Home Service Market Segmentation
By Type of Services
- Cleaning
- Maintenance and Repairs
- Others
By Cities
- Metropolitan (Riyadh, Jedda and Dammam)
- Others (Rest KSA)
By Deployment
- Online
- Offline
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KSA On-Demand Home Service Market
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The market size is expected to grow at a five-year CAGR of ~9.7% by 2026. It is anticipated that the increasing growth of the market size will be fueled by increasing number of service offerings by all the marketplaces and service providers, increasing customer awareness regarding the ease of accessibility of these on-demand home services and growing e-commerce platforms providing services to buyers in a short timeframe.
The demand is expected to grow with a CAGR over 25% during the period 2019-2025. The demand is expected to be driven by growing penetration into Tier 2 and Tier 3 cities. The future is expected to witness other E-commerce companies such as Amazon debuting into online food delivery service. The cloud kitchen space is further expected to grow with aggregators offering infrastructure to amateur players. Technologies such as drone delivery and 3D food printing are expected to boost the operational efficiency of the market.
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