U.K. Home Services Market
U.K. Home Services Market By Deployment, By Repairs & maintenance, By Home Improvement Type, By Geographic Analysis And Forecast
According to Verified Market Research, the U.K. Home Services Market was valued at USD 7.49 Billion in 2018 and is projected to reach USD 13.48 Billion by 2026, growing at a CAGR of 8.8% from 2019 to 2026.
Home services is a term that is used encompasses various intangible assets that are provided by businesses for residential homes. There are several businesses that are provided by home services that span across various sectors of business such as repairs and maintenance, installations, home improvement, and others. As the number of services that can be provided by the home service market increases, the scope, and therefore the industry of home services is growing. With the increase in the adoption of technology comes the increase in the online as well as mobile booking services. Home services are essentially a more modern and simplified way to buy as well as schedule professional services.
The rise in the adoption of smartphones is significantly aiding in the growth of the home service market. The smartphone technology is developing in such a way that it is influencing the consumer’s daily marketing strategies, business activities as well as lifestyle. Along with the rise in the adoption of smartphones comes the rise in internet penetration which in turn has boosted the growth of the market.
With the increasing convenience that home services are providing, the demand for online home services is increasing. This factor also contributes to the growth of the market. However, the lack of a standardized pricing model for online home services might act as a restraint for the market in the forecast period. Due to the relatively new nature of online home services, there is now standard that has been set for the services that are to be provided.
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