0

Home Care Service Market Expected to Reach $27.9 Billion by 2026—Allied Market Research

 
2022
Home Care Service Market

Report Code : A06088

quote Urbanization in the emerging as well as the developed economies has increased over the years. This also makes way for the surge in the expenditure on home care services such as laundry, errands, medication, cleaning, cooking, maintenance and medical care. quote

Shankar Bhandalkar
Senior Research Analyst, Food and Beveragesat Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “Home Care Service Market by Service and Duration: Opportunity Analysis and Industry Forecast, 2018–2026,”the home care service market size was valued at $14.7 billion in 2018 and is estimated to reach $27.9 billion by 2026, registering a CAGR of 8.50% from 2019 to 2026.

In 2018, the maid services segment accounted for more than half of the share in the total home care service market and is expected to grow at a CAGR of 8.3% throughout the forecast period.North America is one of the prominent regions in the market that accounted for asizeableshare of the totalmarket in 2018. 

Home care service providers offer services for daily work in such as laundry, errands, medication, cleaning, cooking, maintenance and medical care servicesat home office. These services are available for two sectors, which includes commercial and residential. The residential cleaning services include resource for the household, work which include carpet cleaners, window cleaners, and a variety of other cleaning and home care services required on a less frequent basis such as personal care and companionship services, private duty nursing care services, and home health care services. The commercial cleaning services include cleaning companies, such as carpet and window cleaners.

The home care service market has witnessed significant growth over the years and is expected to grow at a steady pace during the forecasted period. The factor that majorly drives the home care service market growth includesrise in hygienic and environmental awareness Moreover, surge in economydue to urbanization makes way for the adoption of home care services. In addition, increase in disposable income of consumers from developed as well as emerging countries such as the U.S., Germany, China, and India along with rise in affinity of consumers in emerging economies spending more on home care services further boost the demand for home care services. However, low availability of man power and rise in the competition in this sectorrestrain the market growth. On the contrary, rise in the number of working women in the developed as well as the emerging countries is anticipated to provide lucrative growth opportunities for the home care service industry.

The global home care service market is segmented on the basis ofservices, duration, and region. On the basis of service, the market is dividedinto maid services, carpet & upholstery, and other home care services. By duration, it is classified into daily, weekly, monthly, quarterly, and annually. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

According to the home care service market analysis,themaid services segment generated the highest revenue in 2018 and is expected to remain dominant throughout the forecast period. This can be attributed to the reduction in time allocated for the house hold work due to the busy schedule in the corporate sector. However, the carpet & upholstery segment is expected to grow at the highest CAGR throughout the forecast period. This is due to increase in awareness of the benefits of green, eco-friendly products among residential, commercial, and industrial users, which directly caters the demand for home care services.

In 2018, daily basis home care service was the most prominent segment accounting for maximum share in the global market. This can be attributed to rise in demand for housekeeping staff on daily basis. However, the monthly basis home care service segment is expected to witness the highest growth, owing to increase in disposable income of the consumers from the developed as well as the emerging countries.

On the basis of the home care service market analysis, North America accounted for the maximum share in the global market in 2018 and is expected to remain dominant during the forecast period.This can be attributedtothe reduction in time allocated for the house hold work due to the busy schedule in the corporate sector. Moreover, higher expenditure of the consumers on home care services due to it being considered a life style standard statement helpsin the growth of the sales in this region.However, India is expected to grow with the highest CAGR throughout the forecast period, owing to rapidly growing urbanization in this region due to increasing disposable income.

Key findings of the study

  • The home care service market was valued at $14.7 billion in 2018 and is estimated to reach $27.9 billion by 2026,growing at a CAGR of 8.50% throughout the forecast period.

  • By service, the carpet & upholstery segment is anticipated towitness the fastest growth, registering a CAGR of 9.1% during the forecast period.

  • In 2018, byservice, the maid services segment held the highest share, accounting for more than half of the global market share.

  • In 2018, by region, China was the most prominent market in the Asia-Pacific region and is expected to grow at a significant CAGR throughout the forecast period.

  • In 2018, by region, North America was the dominant region, accounting for more the one-third of the global home care service market share.

The key players profiled in this report include ABM Industries Inc., Anago Cleaning Systems, Aramark Corporation, Chemdry, Cleannet, Jani-king Inc, Pritchard Industries Inc, Sodexo, Stanley Steemer International, Inc., and The Servicemaster Company, LLC.

 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Home Care Service Market by Services (Maid services, Carpet and upholstery, and Other Home care services) and Duration (Daily, Weekly, Monthly, Quarterly, and Annually): Opportunity Analysis and Industry Forecast, 2018–2026 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Oct 2024

Digital Substation Market

Download Sample
rep-img

Published Date Oct 2024

Argan Oil Market

Download Sample
rep-img

Published Date Oct 2024

Cold Plasma Market

Download Sample

Buy Full Version
"Home Care Service Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers