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AI Redefining the Home Services Market, Growth of USD 6.54 Trillion from 2024-2028 with Digital Media’s Impact – Technavio Report

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NEW YORK, Dec. 6, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global home services market  size is estimated to grow by USD 6.54 trillion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  40.34%  during the forecast period.  Increasing influence of digital media is driving market growth, with a trend towards increasing number of startups entering the market. However, high competition among vendors  poses a challenge. Key market players include Amazon.com Inc., Angi Inc., AskforTask Inc., Frontdoor Inc., Gapoon Online Consumer Services Pvt. Ltd., Helpling GmbH and Co. KGA, Home Depot Inc., Home Reno Pte. Ltd., Johns Lyng Group Ltd., MyClean Inc., Oneflare Pty Ltd., Paintzen Inc., Porch.com Inc., SC Pointer Systems Srl, Super Home Inc., TaskEasy Inc., Taskrabbit Inc., The ServiceMaster Co. LLC, Urbanclap Technologies India Pvt. Ltd., and Zauba Technologies and Data Services Pvt. Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

Segment Covered

Type (Home care and design, Repair and maintenance, HWB, and Others) and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

Region Covered

APAC, North America, Europe, South America, and Middle East and Africa

Key companies profiled

Amazon.com Inc., Angi Inc., AskforTask Inc., Frontdoor Inc., Gapoon Online Consumer Services Pvt. Ltd., Helpling GmbH and Co. KGA, Home Depot Inc., Home Reno Pte. Ltd., Johns Lyng Group Ltd., MyClean Inc., Oneflare Pty Ltd., Paintzen Inc., Porch.com Inc., SC Pointer Systems Srl, Super Home Inc., TaskEasy Inc., Taskrabbit Inc., The ServiceMaster Co. LLC, Urbanclap Technologies India Pvt. Ltd., and Zauba Technologies and Data Services Pvt. Ltd.

Key Market Trends Fueling Growth

The home services market is experiencing significant growth due to an increase in seed funding for startups. For instance, Urban Company and Housejoy, both tech-enabled home services marketplaces, have raised substantial investments in recent years. Urban Company secured Series F funding of USD255 million in June 2021, while Housejoy raised USD35 million in 2020. These funds are being used to expand their business operations. Startups are attracting consumers with attractive offers and interactive platforms. Airtasker, Askfortask, and Housejoy are some startups offering general services, connecting consumers to service providers for short-term, non-professional projects. Handy, Helpling, and MyClean are examples of startups providing on-demand home cleaning services through online booking. Houzz Inc., The Porch Company, and Pro.com help consumers connect with professional contractors for various household improvement projects. The rise in the number of startups is a major factor driving the growth of the home services market. These companies are offering innovative solutions, making it more convenient for consumers to access home services. The availability of a wide range of services under different categories is also contributing to the market’s growth. Overall, the home services market is expected to continue growing due to the increasing number of startups and the investments they are receiving.

Home services market is witnessing significant trends with the rise of virtual versions of physical entities on platforms like Microsoft Azure. This includes maintenance, repair, and improvement activities for homes, covering cleaning, landscaping, plumbing, electrical work, remodeling, and more. Homeowners, renters, and property managers prioritize safety, comfort, aesthetic appeal, and energy efficiency. Ageing housing stock and DIY trends call for technological disruptions, regulatory difficulties, labour shortages, and price wars. Seasonal variations impact demand for services like plumbing, electrical repairs, HVAC maintenance, appliance repairs, home improvement, renovations and remodeling, carpentry and woodworking, and cleaning services. Environmental considerations are a growing concern, with eco-friendly practices and energy-efficient solutions gaining popularity. 

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Market Challenges

The home services market is characterized by intense competition among regional and international players. Factors driving competition include acquisitions, expansions, and marketing efforts. New startups entering the market are expected to intensify competition. The market is highly fragmented with numerous unorganized vendors, leading to issues such as inconsistent service quality, lack of transparency, and delayed performance. These challenges, along with price wars among vendors, may erode profit margins and force smaller businesses to exit. Additionally, local brick-and-mortar stores pose significant competition. These factors may hinder the growth of the global home services market.In the Home Services Market, providing safety, comfort, and aesthetic appeal to consumers’ homes is crucial. However, challenges such as ageing housing stock, DIY trends, changing lifestyles, and regulatory difficulties persist. Labour shortages and technological disruptions also impact the industry, with environmental considerations and price wars adding to the complexities. Plumbing services, electrical repairs, HVAC maintenance, appliance repairs, home improvement, renovations, and remodeling, carpentry and woodworking, cleaning services, and healthcare offerings continue to be in demand. Digitalization, through e-commerce platforms and cloud-based solutions, has disrupted traditional business models. Companies like Ginger, One Medical, Zimmber, Timesaverz, and others have entered the fray, offering non-cellular healthcare, internet-based services, and m-commerce platforms. Smartphones have become essential tools for consumers and businesses alike, enabling on-demand services and real-time communication.

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Segment Overview

This home services market report extensively covers market segmentation by

Type 1.1 Home care and design1.2 Repair and maintenance1.3 HWB1.4 OthersGeography 2.1 APAC2.2 North America2.3 Europe2.4 South America2.5 Middle East and Africa

1.1 Home care and design-  The home care and design segment generates revenue through services including interior designing, pest control, deep cleaning, sofa cleaning, laundry services, glasswork, woodwork, waterproofing, masonry, and carpentry. This market is fragmented with numerous small and large players offering various home care and design services. For instance, TaskRabbit Inc. Provides house cleaning and furniture assembly, Helpling offers cleaning and furniture assembly in multiple cities, Cleanly specializes in laundry and dry-cleaning, and Serviz offers a wide range of cleaning services. Amazon also entered the market with offerings in deep cleaning, carpet cleaning, tile cleaning, grout cleaning, and gutter cleaning. The market’s growth is driven by an increasing number of vendors and their business expansions in the segment.

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Research Analysis

The Home Services Market is experiencing significant growth in the digital age, with the rise of online platforms and cloud-based solutions transforming the industry. Services such as home cleaning, landscaping, maintenance, repair, and improvement activities are now easily accessible through non-cellular and m-commerce platforms. The Internet and digitalization have made it possible for consumers to book appointments, track progress, and manage their homes more efficiently. Homeowners can now avail of services like plumbing, electrical work, and remodeling through e-commerce platforms, offering convenience and transparency. Companies have embraced cloud-based solutions like Microsoft Azure to offer virtual versions of their services, allowing for remote consultations and virtual assessments. The physical entity of home services is being complemented by these digital offerings, providing a more comprehensive and convenient experience for consumers. Services like Ginger, One Medical, and Zimmber, among others, are leading the charge in this digital transformation. They cater to various needs, from health and welfare to home cleaning and maintenance. Timesaverz and similar platforms are making it easier for homeowners to manage their homes and schedules, while healthcare providers are leveraging technology to offer telemedicine and remote consultations. The future of home services is a blend of physical and digital offerings, providing consumers with greater convenience, accessibility, and value.

Market Research Overview

The Home Services Market is a dynamic and growing industry that caters to various needs of homeowners, renters, and property managers. This market includes a wide range of services such as home cleaning, landscaping, plumbing, electrical work, remodeling, and maintenance activities. With the increasing trend of digitalization and e-commerce, the market has seen the emergence of mobile and m-commerce platforms, cloud-based solutions, and virtual versions of physical entities. Non-cellular devices like smartphones have become essential tools for booking appointments and managing services online. The market serves diverse customer segments, including homeowners, renters, and property managers, who seek to ensure safety, comfort, aesthetic appeal, and maintenance of their homes. The Ageing Housing Stock and DIY trends present opportunities for growth, while regulatory difficulties, labour shortages, and technological disruptions pose challenges. Environmental considerations and price wars are also significant factors influencing the market. Services offered include plumbing, electrical repairs, HVAC maintenance, appliance repairs, home improvement, renovations and remodeling, carpentry and woodworking, and various cleaning services such as house cleaning, carpet cleaning, window cleaning, and gutter cleaning.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeHome Care And DesignRepair And MaintenanceHWBOthersGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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 consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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The 2nd China (Guangxi)–ASEAN College Students Invitational Competition On Digital Economy and AI Application Innovation was grandly inaugurated in Kuala Lumpur.

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—China and Malaysia Jointly Designated Data Annotation and Corpus Training Base, Setting a New Benchmark for Industry-Education Integration

KUALA LUMPUR, Malaysia, April 27, 2026 /PRNewswire/ — On April 23, 2026, with the support of the Malaysian government agency and leveraging the favorable opportunity presented by the Secretariat of the China-ASEAN Business and Investment Summit to deepen regional economic, trade, and digital industry collaboration, the opening ceremony of the 2nd China (Guangxi)—ASEAN College Students Invitational Competition On Digital Economy and AI Application Innovation was successfully held in Kuala Lumpur, Malaysia.

Under the theme of “Digital Intelligence Empowerment • Creating a Connected Future,” this competition closely aligns with the trends of China-ASEAN digital economy cooperation under the RCEP framework and actively responds to the Belt and Road Initiative. It recruits participating teams from universities across China and ASEAN countries, aiming to establish an international benchmark platform for industry-education integration and youth exchange in the China-ASEAN digital economy. The event is hosted by the China-Malaysia Institute of Modern Craftsmanship of Digital Economy and jointly organized by institutions such as Guangxi Vocational College of Finance and Guangxi Tus innovation Cross-border E-Commerce Co., Ltd receiving extensive support and active participation from government, enterprises, and academic sectors in both China and Malaysia.

At the opening ceremony, representatives from Chinese and Malaysian government, enterprises, and educational institutions—including LI Gaoyan, Secretary of the Party Committee of Guangxi Financial Vocational College and Prof. Dato’ Indera Ir. Dr. Lee Sze Wei, president of Tunku Abdul Rahman University of Management and Technology; and Zhuge Ronghe, Deputy General Manager of Guangxi Tus innovation Cross-border E-Commerce Co., Ltd. and Executive Director of the AI Cross-border Digital Economy Committee of the Guangxi International Chamber of Commerce—delivered speeches. All parties highly recognized the cross-border industry-education integration platform established by the event and expressed their expectation to leverage it as a bridge to deepen and solidify practical cooperation in the China-ASEAN digital economy.

In addition, a plaque presentation ceremony was held simultaneously at the opening ceremony, officially awarding the “China-Malaysia Institute of Modern Craftsmanship of Digital Economy Data Annotation and Corpus Training Base” to WEHIVE GLOBAL MARTECH SDN BHD, a leading local digital marketing technology company in Malaysia. This marks a substantive step forward by both China and Malaysia in the field of foundational artificial intelligence data services. The establishment of this base not only provides industry-level corpus resources and authentic training scenarios for cultivating digital economy talents in the region but also offers robust support for the technical implementation and commercialization of projects participating in this competition. It establishes a comprehensive, deeply integrated chain of “competition + training + industry,” fostering synergistic alignment between the education system, talent pipeline, industrial chain, and innovation ecosystem.

Compared to previous editions, this year’s competition has undergone a comprehensive upgrade, precisely focusing on the core objectives of cultivating digital economy talent and facilitating the commercialization of research outcomes, with three key highlights: First, an innovative scoring system. The competition incorporates practical AI tool proficiency into its core evaluation criteria, requiring participating teams to create project promotional posters using mainstream AI tools, addressing the common issue of “emphasizing concepts over practical application” in similar events and truly achieving learning and application through competition. Second, a multicultural team formation model. The competition encourages students from China and ASEAN countries to form cross-border teams, fostering cross-cultural exchange, technical complementarity, and conceptual synergy. Third, an enhanced technology commercialization mechanism. The competition offers winning teams dual support— “cash prizes plus full-cycle incubation at the Nanning Comprehensive Pilot Zone Overseas Talent Offshore Innovation and Entrepreneurship Base” —bridging the “last mile” from competition to market implementation, establishing a complete transformation cycle of “competition—cultivation—incubation—implementation” to significantly improve the industrial viability and market competitiveness of participating projects.

This competition draws on the innovative education model of the China-Malaysia Institute of Modern Craftsmanship of Digital Economy, with a core focus on empowering youth innovation and entrepreneurship through AI technology. It aims to identify and cultivate young digital economy talents possessing international vision, practical skills, and innovative thinking, while promoting the application of AI technologies in emerging sectors such as cross-border e-commerce and digital finance. Moving forward, the competition will continue to serve as a bridge, injecting youthful momentum into the high-quality, coordinated development of the China-ASEAN digital economy, and supporting the sustained deepening and steady advancement of industry-education integration between China and Malaysia under the Belt and Road framework.

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ALLSPRING GLOBAL INVESTMENTS LAUNCHES GLOBAL EQUITY FUND, EXPANDING ITS SYSTEMATIC CORE EQUITY SUITE

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LONDON, April 27, 2026 /PRNewswire/ — Allspring Global Investments™, a global asset management company with US$624 billion* in assets under advisement, today announced the launch of the Allspring (Lux) Worldwide Fund – Global Equity Fund, a UCITS sub-fund offering a systematic core global equity investment strategy designed to deliver consistent, repeatable alpha whilst maintaining disciplined risk management across market cycles.

“With the growing success of our Global Equity Enhanced Income Fund and our Climate Transition Global Equity Fund in our UCITS range, we are proud to now launch the Allspring Global Equity Fund in response to client demand for a core global equity solution. This new fund reflects our continued investment in systematic capabilities that combine rigorous quantitative research with fundamental insight”, said Andy Sowerby, head of Allspring’s International Client Group. “As clients look for dependable sources of potential outperformance in an increasingly complex global market, this strategy extends our global equity franchise with a risk-controlled core solution designed for compelling performance across market cycles”.

The Global Equity Fund broadens Allspring’s systematic global equity offering, complementing its existing Global Equity Enhanced Income and Climate Transition Global Equity Funds. These two funds were launched in July 2020 and July 2021, respectively, and both have delivered top-quartile performance within their peer groups since.

The new fund seeks long-term capital appreciation by using proprietary quantitative models integrated with fundamental validation to identify attractively valued, high-quality companies with supportive momentum characteristics. The fund aims to achieve positive excess returns relative to the MSCI All Country World Index. The portfolio is broadly diversified and constructed through a disciplined process that combines active stock selection with holistic risk management.

“Our Global Equity Fund is designed to serve as a true core allocation for global equity portfolios”, said John Campbell, CFA, senior portfolio manager of the Global Equity Fund and head of Allspring’s Systematic Core Equity team. “By targeting bottom-up alpha whilst actively managing macro and fundamental risks, the strategy aims to deliver a smoother excess return profile across different market environments”.

The strategy is managed by Allspring’s Systematic Core Equity team, which oversees approximately US$10.8 billion in assets and has decades of experience managing enhanced index, high-conviction equity solutions.

The fund is available to investors in Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden and the United Kingdom in our UCITS vehicle. It will also be available to investors in Switzerland and select Asian countries in the coming months.

ABOUT ALLSPRING
Allspring Global Investments™ is an independent asset management company with more than US$624 billion in assets under advisement*, 18 offices globally and investment teams supported by 365+ investment professionals. Allspring is committed to thoughtful investing, purposeful planning and inspiring a new era of investing that pursues both financial returns and positive outcomes. For more information, please visit www.allspringglobal.com.

*As of 31 March 2026. Figures include discretionary and non-discretionary assets.

This material is provided for informational purposes only and is intended for professional/institutional investor and qualified client use only. Not for retail public use. This content and the information within do not constitute an offer or solicitation in any jurisdiction where or to any person to whom it would be unauthorized or unlawful to do so. It should not be considered investment advice, an investment recommendation, or investment research in any jurisdiction.

INVESTMENT RISKS: All investments contain risk. Your capital may be at risk. The value, price, or income of investments or financial instruments can fall as well as rise and is not guaranteed. You may not get back the amount originally invested. Past performance is not a guarantee or reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations.

Allspring Global Investments™ (Allspring) is the trade name for the asset management firms of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P. These firms include but are not limited to Allspring Global Investments Luxembourg, S.A.; Allspring Funds Management, LLC; Allspring Global Investments, LLC; Allspring Global Investments (UK) Ltd.; Allspring Global Investments (Singapore) Pte. Ltd.; Allspring Global Investments (Hong Kong) Ltd.; Allspring Global Investments (Japan) Ltd.; and Galliard Capital Management, LLC. Unless otherwise stated, Allspring is the source of all data (which is current or as of the date stated). Content is provided for informational purposes only. Views, opinions, assumptions, or estimates are not necessarily those of Allspring or its affiliates, and there is no representation regarding their adequacy, accuracy, or completeness. They should not be relied upon and may be subject to change without notice.

© 2026 Allspring Global Investments Holdings, LLC. All rights reserved. ALL-04142026-qxuja9fc

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Elbit Systems to Report First Quarter 2026 Financial Results on May 26, 2026

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The Company will host a Conference Call to discuss its financial results on May 26, 2026 at 9:00am ET

HAIFA, Israel, April 27, 2026 /PRNewswire/ — Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) (“Elbit Systems” or the “Company”) announced today that it will publish its first quarter 2026 financial results on Tuesday, May 26, 2026.

Results Conference Call

The Company will host a conference call on May 26, 2026, at 9:00am Eastern Time. On the call, management will review and discuss the results and will be available to answer questions. To participate, please call one of the dial-in numbers below: 

US Dial-in Number: 1-866-744-5399
Canada Dial-in Number: 1-866-485-2399
Israel Dial-in Number: +972-3-918-0644
International Dial-in Number:  +972-3-918-0644

at 9:00am Eastern Time; 6:00am Pacific Time; 4:00pm Israel Time

This call will also be broadcast live on Elbit Systems’ website at http://www.elbitsystems.com. An online replay will be available from 24 hours after the call ends.

Alternatively, for two days following the call, investors will be able to dial a replay number to listen to the call. The dial-in numbers are: 1-888-782-4291 (U.S. and Canada) or +972-3-925-5900 (Israel and International).

About Elbit Systems

Elbit Systems is a leading global defense technology company, delivering advanced solutions for a secure and safer world. Elbit Systems develops, manufactures, integrates and sustains a range of next-generation solutions across multiple domains.

Driven by its agile, collaborative culture, and leveraging Israel’s technology ecosystem, Elbit Systems enables customers to address rapidly evolving battlefield challenges and overcome threats.

Elbit Systems employs over 20,000 people in dozens of countries across five continents. The Company reported $7,938.6 million in revenues for the year ended December 31, 2025 and an order backlog of $28.1 billion as of such date.

For additional information, visit: www.elbitsystems.com, follow us on X or visit our official Facebook, Youtube and LinkedIn Channels.

Company Contact:
Dr. Yaacov (Kobi) Kagan, Executive VP – CFO
Tel:  +972-77-2946663
kobi.kagan@elbitsystems.com 

Daniella Finn, VP, Investor Relations
Tel: +972-77-2948984
daniella.finn@elbitsystems.com 

Dalia Bodinger, VP, Communications & Brand
Tel: +972-77-2947602
dalia.bodinger@elbitsystems.com

This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management’s current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company’s future financial results, its anticipated growth strategies and anticipated trends in its business. Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others, including the duration and scope of the war in Israel, and the potential impact on our operations; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.’s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies. All other brand, product, service and process names appearing are the trademarks of their respective holders. Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

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