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.
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.
A global organization offering world-class home services using unique solutions. The client has been leading the American home services market by offering an interactive online stage. This platform can be used to locate the best experts in various administrations. The client has made a good name in the Western coastline and is the big league member of the home service industry.
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Client wanted a list of locations in the United States where they can expand their business operations. Our task was to deliver the locations in addition to giving a brief about the market players and major trends arising in the market. This way, the client’s final goal was to increase its market share in the United States. Verified Market Research was tasked to identify the regions where the home services’ market was booming.
Verified Market Research was appointed by the client to understand the market dynamics. With the significant ascent in advancements and thoughts has spurred an interest for the home services market in the US. The experts’ duty was to brush over factors such as the expanding GNI per capita in the US, expanding site guests and upgraded home booking stage highlights. The business is a well-known player in the market but wanted to target the millennial populace as well. Client wanted unique recommendations for aligning its business with the expanding urbanization (which have improved this market in the US).
Verified Market Research was appointed to determine the home service market’s driving factors. Experts at Verified Market Research (VMR) were tasked to deliver the data during the onset of the pandemic. With a dip in the capital flow of the market, the experts found unique ways to guide the client through the entire process.
For understanding the market dynamics of the Eastern regions, the client wanted extensive data about the external factors that drive the market. Also, the client wished to understand its prospects’ desires and inclination living in the Eastern part of the United States.
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Type of Data: Primary and Secondary Data
Method: Online feedback forms, interviews, customer review analysis and examination of data collected from government websites
Target Audience Persona: Working class professionals aged 30+ years; Retired individuals
Industry: Home Service
Services For: Home Cleaning, TV wall mounting, Bed assembly, Treadmill assembly, Move-in or move-out house cleaning
Client achieved 100% ROI from the locations put forward by the Verified Market Research team.
The ‘smart system’ guided the client to establish its brand in the regions with the highest demand for home services.
Identification of the existing market loopholes and the recommended methods the client appointed to serve its customers.
Client was successful in tapping into the new market along with achieving 500+ customers even during the initial stages of COVID-19.
Data collected from online feedback forms, online reviews and government websites helped VMR in devising ways to pilot the client for penetrating into the new market.
The goal of this project was to empower the client with data about the prospects and the market scenario that will be suitable for its growth. VMR offered the details such as market players, trends and curated from the large in-house database.
From formulating the report till executing it, VMR worked along with the client to offer better resolutions. After market research was done, the client was offered a solution to make a user-friendly mobile application. This way, the client was able to interact with its customers at personal and individual level. This step gave the client an edge over the competition and quadrupled its revenue.
Along with this the client was empowered with new emerging market opportunities gaining traction in the home service market – beauty, home cleaning, electrical, repair, carpentry, and plumbing. Client managed to make its mark even during the inception of the pandemic and has been flourishing, since then, with increasing customer base everyday.
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