United States Home Services Market
US Home Service Market By Deployment, By Repair and Maintenance, By Country And Forecast
According to Verified Market Research, the United States Home Services Market was valued at USD 105.55 Billion in 2018 and is projected to reach USD ,219.07 Billion by 2026, growing at a CAGR of 35.8% 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.
Due to an increase in the industries and a substantial rise in innovations and ideas has created a demand for the home services market in the US. Moreover, augmented marketing by home services platforms, growing number of service providers, increasing GNI per capita in the US, increasing site visitors, enhanced home booking platform features, instant book/instant connect options, smartphone penetration and growing m-commerce platform, growing millennial population and homeowners, increasing urbanization and hectic lifestyles are the factors which have enhanced this market in the US. 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.
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