Scope of the report
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Technavio has announced its latest market research report titled Global Online On-demand Laundry Service Market 2020-2024 (Graphic: Business Wire)
This report provides a detailed analysis of the online on-demand laundry service market by end-user (residential and commercial), service (laundry, dry clean, and duvet clean), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including ByNext Inc., Delivery.com LLC, Dry Cycle Brands LLC, DRYV Inc., Justclean General Trading Co. WLL, Laundrapp (Ops) Ltd., Laundryheap Ltd., PML Solutions Pvt. Ltd., Rinse Inc., and Washmen Laundry LLC. Increasing penetration of the internet and smartphones is a key trend in the global online on-demand laundry service market which will lead to significant market growth. The growing adoption of smartphones and the availability of high-speed internet has enabled vendors to expand their market presence through attractive offers on apps and other online platforms. All these factors are leading to a positive outlook for the online on-demand laundry service market.
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Online On-Demand Laundry Service Market: Segmentation by Geography
The market is segmented into five regions encompassing APAC, Europe, MEA, North America, and South America. North America was the largest market for online on-demand laundry service in 2019, and the region is expected to offer several growth opportunities to market vendors during the forecast period. About 34% of the market's growth will originate from North America during the forecast period. The market is witnessing a growth in the number of startups offering online laundry services in North America. Besides, factors such as the increasing number of dual-income households and the rising number of working women are providing significant growth opportunities for vendors in the region. The US is the key market for online on-demand laundry services in North America.
Online On-Demand Laundry Service Market: Segmentation by End-user
The online on-demand laundry service market is segmented into two segments based on end-users comprising of residential and commercial end-users. Residential end-users exhibited a higher demand for online on-demand laundry services in 2019. This is due to rapid urbanization, changing lifestyles, increasing working population, and rising innovations in online laundry services. Besides, many vendors are increasing convenience to residential users by offering services such as free pick-up and drop and proper handling. These factors are creating significant growth potential in the segment.
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Online On-Demand Laundry Service Market: Growth Drivers
Increased convenience through logistics services will drive market growth. Busy lifestyles of consumers have increased the burden of carrying the piled-up laundry to laundry service providers. In order to provide convenience to consumers, vendors in the market are providing free pick-up and drop services. For instance, DRYV offers free pickup and delivery for orders worth over 20 dollars. Such strategies are helping vendors to attract and retain customers and gain a competitive edge in the market. These factors are contributing to the growth of the global online on-demand laundry service market.
Online On-Demand Laundry Service Market: Market Overview
The online on-demand laundry service market is fragmented with the presence of several domestic and international players. Hence, companies need to adopt advanced technologies and marketing strategies to remain competitive in the market. ByNext Inc., Delivery.com LLC, and Dry Cycle Brands LLC are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the strong competition from the unorganized laundry sector will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Market Sizing Methodology
Technavio uses a robust market sizing approach to estimate the total opportunity size for any market. Some of the examples of methodologies are shown for reference data is collected through both primary research (through industry interview with market participants and industry experts) as well as secondary research (through annual reports, press releases, company and industry presentations, industry associations, journals and in-house data repositories built over past 15 years).
Online On-Demand Laundry Service Market: Parent Market Overview
Technavio categorizes the global online on-demand laundry service market as a part of the global specialized consumer services market. The parent global specialized consumer services market covers revenue generated by the consumer service providers, including residential services, home security services, legal services, personal services, renovation and interior design services, consumer auction services, wedding services, and funeral services.
Growth in the global specialized consumer services market will be driven by the rise in construction activities worldwide.
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