Portland, OR, April 13, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global home care service market was pegged at $14.7 billion in 2018, and is anticipated to garner $27.94 billion by 2026, growing at a CAGR of 8.5% from 2019 to 2026.The report offers a detailed analysis of value chain, market dynamics, top wining strategies, key segments, business performance, and competitive landscape.
Economic upsurge and increased disposable income and hygiene consciousness have boosted the growth of the global home care service market. However, intense competition hampers the market growth. On the contrary, surge in number of working women is expected to create lucrative opportunities for the market players.
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The global home care service market is segmented on the basis of services, duration, and geography. Based on services, the marketis divided into maid services, carpet and upholstery, and other home care services. The maid services segment held the largest share in 2019, accounting for nearly two-thirds of the marketand is estimated to maintain its dominant share in terms of revenue throughout the forecast period. However, the carpet and upholstery segment is projected to manifest the highest CAGR of 9.1% during the forecast period.
On the basis of duration, the market is categorized into daily, weekly, monthly, quarterly, and annually. The daily segment held the largest share in 2019, accounting for more than two-fifths of the market. However, the monthly segment is projected to portray the highest CAGR of 10.4% during the forecast period.
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The global home care service market is analyzed across several regions such as North America, Asia-Pacific, Europe, and LAMEA. The market across North America dominated in 2019, accounting formore than one-third of the market. However, the market across Asia-Pacific is anticipated to register the highest CAGR of 9.4% during the forecast period.
The global home care service market report includes an in-depth analysis of the major market players. They have adopted various strategies such as collaborations, launch of new products, partnerships, and mergers & acquisitions. The market leaders that are studies in the report areABM Industries Inc., Aramark corporation, Anago Cleaning Systems, Cleannet, Chemdry, Pritchard industries Inc., Jani-king Inc., The Servicemaster Company, LLC., and Sodexo, Stanley Steemer International, Inc.
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