Online On-Demand Home Services Market in Southeast Asia to Grow by USD 2.27 Billion from 2024-2028, as Busy Lifestyles Drive Demand with AI Impact on Market Trends - Technavio

NEW YORK, Nov. 11, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The online on-demand home services market in southeast asia size is estimated to grow by USD 2.27 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 86.02% during the forecast period. Busy lifestyles propelling demand for home services and solutions is driving market growth, with a trend towards digital marketing and consumer engagement on social media platforms. However, high competition among market vendors poses a challenge. Key market players include Amazon.com Inc., APLUS CLEAN SOLUTIONS, Borigarn Co. Ltd., Business Pixel Sdn Bhd, Carousell Pte. Ltd., Everyworks Services Pte. Ltd., Fixi Co. Ltd., GoodWork Solutions Inc., Grab Holdings Ltd., Home Reno Pte. Ltd., JB Hi Fi Ltd., Kaodim, LS Handyman, Maclean Services Sdn Bhd, Manage 4 U Sdn Bhd, PT. OKHOME Indonesia, Smile Clean Co.,Ltd., Taskrabbit Inc., Up Your Home Services Sdn Bhd, Urbanclap Technologies India Pvt. Ltd., and Wizard Home Services Pte. Ltd..

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Market Driver

The Online On-Demand Home Services market in Southeast Asia is witnessing significant growth, with repair and maintenance, health, wellness and beauty services leading the charge. Consumers' busy lifestyles and increasing smartphone usage drive this trend. Websites offer convenient access to services, enabling inorganic growth through collaborations and industry influencer partnerships. Repair and maintenance services dominate, but health and wellness are gaining ground. Effective consumer engagement through social media platforms and promotions are key strategies. Latest developments include Amazon Home Services and Amazon Care in health, Ginger and One Medical in health and wellness, Urban Company and Zimmber in home services, and Timesaverz in home cleaning. Comprehensive coverage, competitive positions, and effective user interfaces are prime reasons for success in this market. Pricing and profitability remain important considerations for enterprises in the next few years. Photo printing is a growing niche within this segment. Synthesis of data from multiple sources indicates continued growth in the mobile segment. 

Online on-demand home services in Southeast Asia have adopted various marketing strategies to enhance their service visibility. Digital and social media promotional activities are commonly used by vendors to reach potential customers. Local service provider partnerships are also crucial for expanding market reach. Strategies such as promotional offers and referral models are employed to attract new customers and retain existing ones. Mobile and smartphone-based digital platforms play a significant role in increasing service visibility through push messages and emails, providing details of new service launches and discounts. 

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 Market Challenges

• The Online On-Demand Home Services market in Southeast Asia is witnessing significant growth due to the prime reasons of busy lifestyles and the internet. This market includes repair and maintenance, health, wellness and beauty services, and consumer engagement through website and social media platforms. Challenges include inorganic growth strategies, offline home services transition, and competitive positions against industry influencers like Amazon Home Services, Amazon Care, Ginger, One Medical, Urban Company, Zimmber, and Timesaverz. Effective strategies include comprehensive coverage, client base expansion, collaborations, and effective user interface. The mobile segment is a major driver, with smartphone users preferring on-demand services for home cleaning and photo printing. Latest developments include pricing strategies and promotions to attract consumers. Synthesis of data from multiple sources indicates profitability in the next few years.
• The online on-demand home services market in Southeast Asia is characterized by competition among various regional and country-based players. These companies compete based on strategic initiatives such as acquisitions, partnerships, and expansions, as well as marketing and advertising campaigns. Global players like Amazon also participate in the market, increasing competition. New startups are expected to enter the market during the forecast period, intensifying competition further. Numerous vendors in the market are fueling price wars, which may erode profit margins and potentially cause smaller businesses to exit.

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Segment Overview

This online on-demand home services market in southeast asia report extensively covers market segmentation by

1. Platform 
• 1.1 Mobile application
• 1.2 Website
2. Service 
• 2.1 Home care and design
• 2.2 Repair and maintenance
• 2.3 Health wellness and beauty
• 2.4 Others
3. Geography 
• 3.1 Southeast Asia

1.1 Mobile application- Mobile applications have become the primary platform for vendors in Southeast Asia's online on-demand home services market. Customers need to download these apps first and then book or schedule appointments for services from the available slots. The convenience of using mobile phones, especially for working and traveling, has led to a significant shift from web-based to mobile-based services for both B2C and B2B buyers. The growing number of smartphone users and user-friendly interfaces of mobile applications are driving the expansion of companies offering online on-demand home services via smartphones. The increasing penetration of smartphones and the availability of numerous regional and international applications for home services, food and grocery delivery, car rentals, and travel tickets are further fueling the use of mobile for on-demand home services during the forecast period. Vendors are continuously enhancing their mobile applications to offer personalized experiences to customers, leading to increased conversion rates through intelligent persuasion and social proofing.

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Research Analysis

The Online On-Demand Home Services Market in Southeast Asia is poised for significant growth in the next few years, driven by busy lifestyles and the widespread use of the internet. Repair and maintenance, health, wellness, and beauty services are prime areas of focus for this market. Consumer engagement is key, with social media platforms playing a significant role in driving demand. Inorganic growth strategies, such as collaborations and acquisitions, are also common. Synthesis of data from multiple sources is essential for understanding market trends and profitability. Pricing remains a critical factor, with industry influencers advocating for transparency and affordability. Offline home services are also undergoing digital transformation, further expanding the market's reach. Overall, the Online On-Demand Home Services Market in Southeast Asia presents exciting opportunities for innovation and growth.

Market Research Overview

The Online On-Demand Home Services Market in Southeast Asia is experiencing exponential growth, driven by the region's large population of smartphone users and their increasingly busy lifestyles. This market encompasses various sectors, including repair and maintenance, health, wellness and beauty, consumer engagement, and offline home services. Social media platforms and industry influencers play a significant role in driving client base and promotions. Inorganic growth strategies, such as collaborations and acquisitions, are also common among enterprises seeking to expand their comprehensive coverage and competitive positions. Latest developments in the industry include Amazon Home Services and Amazon Care's entry into the market, offering repair, maintenance, and healthcare services, respectively. Ginger, One Medical, Urban Company, Zimmber, and Timesaverz are some effective strategies in the repair and maintenance, home cleaning, and health and welfare sectors. The next few years are expected to see continued growth, with a synthesis of data from multiple sources indicating profitability and a shift towards pricing models that cater to the unique needs of each sector. Photo printing and user interface are emerging trends, as is the integration of artificial intelligence and machine learning to enhance the overall user experience.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Platform
• Mobile Application
• Website
• Service
• Home Care And Design
• Repair And Maintenance
• Health Wellness And Beauty
• Others
• Geography
• Southeast Asia

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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