Bringing the Home Service to your Doorstep: UAE On Demand home Service market to hit AED 5 Billion by 2026. Explore major factor for the growth in UAE On Demand Home Service Market: Ken Research
The report focuses on the On-Demand Home Services Market Segmentation by Type of Services (Cleaning, Repairs and Maintenance, Beauty and Others); By Geography (Dubai, Abu Dhabi, Other Emirates); By Deployment (Online and Offline). UAE On-Demand Home Services Industry report concludes with projections for the future of the industry including forecasted market size by 2026, and analysts’ take on the future highlighting the major opportunities.
Gurugram, India, March 20, 2023 (GLOBE NEWSWIRE) -- Digital is the Future:
Companies will continue to invest in digital marketing strategies to improve their service visibility and promoting sales. Advertisements on social media platforms such as YouTube, Instagram and Facebook will enable companies to enhance brand awareness and attract potential customers. Internet penetration is high in UAE, almost 99% of the population use internet. Around 51% individuals purchased a product or service online via a smartphone which indicates the customers’ continued reliance to procure products or services online due to increasing convenience and accessibility.
Ease of Market Entry:
In 2021, the regulations of provision for establishing a new company allows any individual of any origin to hold 100% ownership of the business. It does not require to partner with an Emirati to register the company. Companies now have reduced entry barrier to enter the industry, which is still at a nascent stage and is expected to grow.
Increase in service offerings:
Increase in vertical expansion of service offerings such as introducing cooks and chefs who specialize in particular cuisine; baking at home services, providing tuitions, etc. could be booked online on-demand. Merging with food delivery and grocery marketplaces to expand its services offerings will give a new meaning to on-demand home services. Marketplaces will aim to increase the number of bookings of beauty services, as the average ticket size for these services is higher than cleaning services. Promotional offers and discounts would be offered to attract new customers.
Increase in development of residential real estate market:
It is forecasted that the residential real estate market in UAE would increase ~10% in the next 5 years. Also, it is predicted that the real estate prices will reduce in the region. This will led to shift to households from 1bhk to 2 bhk apartments, leading to an increase in the demand for on-demand home services. Government incentives such as special investor and retirement visas, golden long-term visas, as well as the reduction of the loan-to-value (LTV) for first time homebuyers to 20% by the UAE Central Bank, low interest rates and competitive mortgage products will give a boost to the industry.
The publication titled “UAE On-Demand Home Services Industry: Driven by changing consumer lifestyle and increasing adoption of digitally enabled services” provides a comprehensive analysis of the on-demand home services industry by analyzing historical statistics and corresponding developments in the on-demand home services market. The market growth spiked during COVID as people were reluctant to step out of their houses. People preferred booking home services online directly from these marketplaces or service providers. Given the fragmented completion structure in the on-demand home services industry, analysts have elaborated on competitive landscape of major marketplaces and service providers on the basis of services offered and operational parameters. The report also covers a snapshot on marketplace and service providers business model, value chain analysis, growth drivers, Porters 5 forces analysis, impact of COVID-19 and factors governing the future outlook of industry. The report also provides comprehensive insight on the market size and segmentation of the industry. The report highlights the pain points of the on-demand home services industry along with detailed company profiles of major service providers and marketplaces. The report concludes with projections for future industry market size, market segmentations and analyst take on future market scenario.
Key Segments Covered in UAE On-Demand Home Services Industry
By Type of Services
Cleaning
Repair and Maintenance
Beauty
Others
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By Geography
Dubai
Abu Dhabi
Others
By Deployment
Online
Offline
Time Period Captured in the Report:
Historical Period: 2017-2021
Forecast Period: 2022F-2026F
UAE On-Demand Home Services Players
Marketplaces
Justlife
Urban Company
ServiceMarket
Rizek
Usta
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Service Providers
Hitches and Glitches
MPlus
Elite Maids
Helpsters Cleaning Services
Key Topics Covered in the Report
Socio-economic Landscape of UAE
Evolution of UAE On-Demand Home Service Industry
Ecosystem of UAE On-Demand Home Service Industry
UAE On-Demand Home Service major entities Business Model
Market Size of On-Demand Home Services Industry by Revenue
Market Segmentation of On-Demand Home Services Industry by type of services, geography, deployment
Total Addressable, Serviceable Addressable Market of On-Demand Home Services Industry
Demand Drivers and Trends in On-Demand Home Services Industry
Consumer spending and preferences in the On-Demand Home Services Industry
Impact of COVID on demand and user preferences in the On-Demand Home Services Industry
Trends and Developments in On-Demand Home Services Industry
Porter’s Analysis of the On-Demand Home Services Industry
Growth Drivers of the On-Demand Home Services Industry
Challenges faced in the On-Demand Home Services Industry
Government Rules and Regulations in the On-Demand Home Services Industry
Impact of COVID-19 on the On-Demand Home Services Industry
Comparison of Pre and Post COVID scenarios
Competitive Scenario of the On-Demand Home Services Industry
Competition in On-Demand Home Services Marketplace
Competition among On-Demand Home Services Providers
Case Study on Urban Company Business Model
Future Trends and Market Size of On-Demand Home Services Industry by Revenue
Future Market Segmentation of On-Demand Home Services Industry by type of services, geography, deployment
Industry speaks
Analyst Recommendations
For more insights on the market intelligence, refer to below link:-
UAE On-Demand Home Services Industry
Related Reports By Ken Research:-
The revenue generated from on-demand services in Indonesia is projected to augment to USD ~ million during 2021 from USD ~ million during 2016, achieving a CAGR of ~% during the period 2016-2021. The prospective entry of millions of unbanked, under-banked and mobile wallet consumers into the financial system will result in the increasing prevalence of mobile payment. The rising number of individuals making everyday purchases through smartphones will drive the revenue of the on-demand services market in the country.
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Ankur Gupta, Director Strategy and Growth
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CONTACT: Contact Us:- Ken Research Private Limited Ankur Gupta, Director Strategy and Growth Ankur@kenresearch.com +91-9015378249
