Overview and Scope
Private household services refer to the basic domestic services that are required for the proper running and maintenance of a household. These services include assistance with cooking and grocery shopping (if home delivery is not available), housekeeping chores, laundry help, gardening aid, and kid care and more.
Sizing and Forecast
The private household services market size has grown strongly in recent years. It will grow from $294.37 billion in 2023 to $323.79 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to income levels and disposable income, demographic trends and aging population, urbanization and busy lifestyles, dual-income households and work-life balance, changing social norms and outsourcing culture..
The private household services market size is expected to see strong growth in the next few years. It will grow to $460.71 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to shift in consumer preferences and customization, rising awareness of mental health and well-being, flexible service models and subscription plans, remote work trends and home office support, sustainability and eco-friendly services.. Major trends in the forecast period include expanding senior care and aging-in-place services, integration of virtual and remote services, focus on personalized and concierge services, utilization of subscription-based service models, market entry of technology-based startups..
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Segmentation & Regional Insights
The private household services market covered in this report is segmented –
1) By Type: Home Care And Design, Repair And Maintenance, HWB, Other Types
2) By Services: Floor Cleaning, Window Cleaning, Carpet Cleaning, Other Services
3) By Home Improvement: Construction, Interior Design
Asia-Pacific was the largest region in the private household services market in 2023. The regions covered in the private household services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand for home cleaning services is expected to propel the growth of the private household services market going forward. Home cleaning services refer to the act of cleaning a house, room, etc. A typical house cleaning service includes wiping down bathroom and kitchen surfaces in addition to dusting, vacuuming, and cleaning the floors. Home cleaning services are primarily used in private households to remove germs along with dirt and dust, improving indoor air quality, leaving a fresh scent in their wake, and saving time and energy. Hence, the increase in demand for home cleaning will boost the market for private household services. For instance, in January 2023, according to a report published by Jobber (Octopusapp Inc.), a Canada-based software company, in 2021, 10%of all US households paid a professional service to clean their homes, and the expense of home services increased by 9.4 percent in the same year. Also, in 2021, income in the cleaning sector increased by 14%, and by 2024, it is anticipated that 80 percent of households will use home cleaning services. Further, by 2025, the residential cleaning industry is anticipated to be worth $40.38 billion. Therefore, demand for home cleaning services is driving the growth of the private household services market.
Key Industry Players
Major companies operating in the private household services market are developing new home improvement services to gain a competitive edge in the market. Home improvement services refer to professional services and assistance provided to individuals or businesses seeking to enhance, renovate, or upgrade residential or commercial properties. For instance, in August 2023, The Home Depot, Inc., a US-based home improvement company, launched the New Homeowners Hub, a comprehensive online resource tailored to empower first-time homeowners with the knowledge, tools, and inspiration needed for successful DIY projects and informed homeownership. It features a diverse range of step-by-step DIY guides covering various home improvement projects, curated product recommendations, design inspiration galleries, and essential information on homeownership. The hub aims to instil confidence, independence, and creativity in homeowners, fostering a sense of pride and ownership in their living spaces. It serves as a valuable tool for both novice homeowners seeking guidance and experienced DIY enthusiasts looking for new challenges.
The private household services market report table of contents includes:
1. Executive Summary
2. Private Household Services Market Characteristics
3. Private Household Services Market Trends And Strategies
4. Private Household Services Market – Macro Economic Scenario
5. Global Private Household Services Market Size and Growth
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31. Global Private Household Services Market Competitive Benchmarking
32. Global Private Household Services Market Competitive Dashboard 33. Key Mergers And Acquisitions In The Private Household Services Market
34. Private Household Services Market Future Outlook and Potential Analysis
35. Appendix
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