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As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Global Home Care Service Market to Grow at a CAGR of 8.3% During 2021-2026, Aided by the Rising Awareness of Cleanliness and Hygiene

According to a new report by EMR titled, ‘Global Home Care Service Market Report and Forecast 2021-2026’, the market reached a value of around USD 17.3 billion in 2020. It is expected to witness a healthy growth in the forecast period, growing at a CAGR of 8.3% between 2021 and 2026 to attain USD 27.90 billion by 2026.

The global home care service industry is being driven by the growing consciousness regarding hygiene and sanitation, fuelled by the rampant spread of the novel coronavirus. In addition, the increased demand for daily home care services is also contributing to the market growth. This increase can be witnessed, especially among the working individuals, who require daily maid services for regular housework such as cooking and cleaning due to their hectic work schedule. Moreover, the need for a safe and sanitised home environment, which is free from any disease-inducing germs and bacteria, is expected to drive the industry growth.

The growing focus of the leading market players to provide home care services by integrating advanced technological solutions to devise improved cleaning strategies, such as COVID-19 disinfection services that aim to reduce the spread of the virus, is expected to positively stimulate the industry growth in the forecast period. For instance, in a press release issued by ABM Industries Inc. (NYSE: ABM), dated September 2020, the company introduced the EnhancedFacility Program. This programme aims to offer healthy indoor spaces by providing COVID-19 disinfection procedures supported by experts. In addition, the programme also aims to improve indoor air quality through proper HVAC, mechanical and control systems in addition to several new and advanced technologies that help with biohazard disinfection. Such developments are expected to drive the market growth of the home care service industry.

Market Breakup by Service, Duration, and Region:

  • The market is divided based on service into maid services, carpet and upholstery, and others.
  • The industry is segmented, on the basis of duration, into daily, weekly, monthly, quarterly, and annually. 
  • Region-wise, the global market for home care service can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for home care service is being driven by the growing awareness regarding health and hygiene among consumers.
  • The increased demand for daily maid services among the working population has significantly contributed to the market expansion. 
  • The rising demand for carpet and upholstery services is also aiding the industry growth. 
  • The increased investments by the leading market players in strategising various home care services such as COVID-19 disinfection services are further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for home care service for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the services, durations, and regions of home care service.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global home care service market are ABM Industries Inc., Aramark Corporation, Chem-Dry, Jani-King International, Inc., Pritchard Industries, Inc., and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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