Online On-demand Home Service Market in Malaysia to Record 42.93% of Y-O-Y Growth Rate in 2021 | Key players like Grab Maid Tech Sdn Bhd are leveraging strategic collaborative initiatives | Technavio | State

NEW YORK, Jan. 19, 2022 /PRNewswire/ — Online On-demand Home Services Market in Malaysia Facts at a Glance-

  • Total Pages: 120
  • Companies: 10+ – ADVANCE DREAMS VENTURE Sdn Bhd, Breezy Clean Homes, Business Pixel Sdn Bhd, Clinfess Enterprise, EasyFix, Grab Maid Tech Sdn Bhd, Kaodim, LocalService Malaysia, M4U SERVICES Sdn Bhd, Maideasy Sdn Bhd among others.
  • Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
  • Segments: Services (home care and design, repair maintenance, HWB, and others) and Platform (mobile applications and online website)
  • Geographies: Malaysia

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According to the recent market study by Technavio, the Online On-demand Home Services Market in Malaysia is expected to increase by USD 50.49 billion from 2020 to 2025, with an accelerated CAGR of 55.29%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

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Vendor Insights-

The online on-demand home services market in Malaysia is fragmented, and the vendors are deploying growth strategies such as Search engine optimization, as well as advertising on social media to increase web traffic and compete in the market.

One of the key players in the market is Grab Maid Tech Sdb Bhd. The vendors in the market in focus aim at enlarging their consumer base to increase their revenues. These vendors are leveraging strategic collaborative initiatives in order to increase their market shares and profitability.

Moreover, these key vendors provide their online on-demand home services via mobile applications. Customers can see the charges once they have opted for the required service.

Furthermore, Maideasy Sdn Bhd also gives an option to their customers to rate the services offered by the company. Customers can choose to pay either online or offline. 

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Regional Market Outlook

The online on-demand home services market share growth in Malaysia will be significant. The increasing use of smartphones and the rising Internet penetration in Malaysia are expected to drive the growth of this segment of the market during the forecast period.

Changes in consumer lifestyles, as well as an increase in the disposable income of people in Malaysia, are fueling the demand for on-demand home cleaning and design services. Moreover, cleaning and maintaining hygiene in the house has become a necessity in every home and factors, such as a rise in the number of vendors offering home care and design services, will contribute significantly to the growth of the online on-demand home services market in Malaysia during the forecast period.

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Latest Drivers & Challenges Driving the Market-

  • Online On-demand Home Services Market Driver in Malaysia:
    • Advantages of online on-demand home services:

Online on-demand home services encompass all digital marketplaces that offer convenient access to a wide range of home services. The global demand for online on-demand home services is increasing owing to the ease of convenience and accessibility provided by these services. Moreover, most online on-demand home service applications provide all the necessary home-related service options on the same platform. This makes it convenient for consumers to choose the required services in the same application instead of switching from one application to the other. Therefore, the online on-demand home services market in Malaysia is expected to register a steady growth rate during the forecast period.

  • Online On-demand Home Services Market Challenges in Malaysia:
    • High competition among vendors:

The online on-demand home services market in Malaysia is dynamic because of the presence of several regional and international players that compete based on parameters such as acquisitions, expansions, and marketing and advertising campaigns. Moreover, with the entry of new startups and the competition among the existing players in the market is expected to intensify during the forecast period. Also, the presence of numerous vendors is intensifying competition and increasing the price wars among vendors.

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various other market Drivers & Trends mentioned in our
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Online Streaming Services Market by Type and Geography – Forecast and Analysis 2021-2025: The online streaming services market size has the potential to grow by USD 191.72 billion between 2020 and 2025, and the market’s growth momentum will decelerate at a CAGR of 18.74%. Download Exclusive Free Sample Report

Online On-demand Home Services Market Scope in Malaysia

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 55%

Market growth 2021-2025

$ 50.49 billion

Market structure

Fragmented

YoY growth (%)

42.93

Regional analysis

Malaysia

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ADVANCE DREAMS VENTURE Sdn Bhd, Breezy Clean Homes, Business Pixel Sdn Bhd, Clinfess Enterprise, EasyFix, Grab Maid Tech Sdn Bhd, Kaodim, LocalService Malaysia, M4U SERVICES Sdn Bhd, and Maideasy Sdn Bhd

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Website: www.technavio.com/

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SOURCE Technavio