Increasing investment in the online on-demand home services sector is projected to boost the market growth to a great extent in the coming years as the consumers are rapidly adopting the on-demand home services for convenience. Additionally, many start-ups and other major companies are rapidly expanding and improving their services through investments across the region.
Adoption of online on-demand home services is rapidly increasing in Mexico. However, this fundamental shift has also given rise to security issues and fraud activities.
The Mexico online on-demand home service market is segmented by platform, service, end user, and region.
On the basis of Platform, the Mexico online on-demand home service market is segmented by Online website and Mobile applications. several online on-demand services including food delivery, consumer goods delivery, and transportation have been witnessing rapid growth and are likely to continue the same in the coming years. The Mexico online on-demand home service market is segmented by the platform into website and mobile application.
By Service, the Mexico online on-demand home service market is segmented by domestic services, online shopping, and transportation. The World Health Organization (WHO) has estimated that more people are likely to develop chronic diseases, ill-health, and dependency risk by 2030 due to increasing aging and geriatric populations. Several online home health care service providers are offering healthcare packages, which includes health education, personal care, preventive services, early detection, psychosocial support and social services, management of simple diseases, and training family members to provide daily care. The number of Mexican consumers using the internet and smartphones for online shopping is rapidly increasing, which has helped Mexico to stay above Spain, Chile, and Brazil in terms of online shopping. This is majorly attributed to increasing internet usage by youth population, supporting regulatory reforms, and declining cost of smartphones. Additionally, Commercial Transport Apps (CTAs) use various technological developments for better match passengers, with available for-hire vehicles using a global navigation system, cellular and Wi-Fi access, payment systems, and others.
On the basis of End-User, the Mexico online on-demand home service market is segmented by Family and Professionals. According to PricewaterhouseCoopers (PwC), Mexico ranked 17th in terms of overall online market attractiveness. Technology-focused companies have started creating new ‘on-demand’ culture for bringing suppliers and consumers of goods and services together to transform consumption and employment. Additionally, on-demand companies are now providing unique and easy-to-access services to their customers through smartphones to change their behavior and expectations for the future.
Mexico is expected to exceptionally evolve as most significant market for online on-demand home services market during the forecast period 2019–2026. The demand for Mexico’s online on-demand home services has started witnessing huge growth due to convenience and accessibility. The growing rate of internet and smartphone penetration is further increasing the demand for the market. Consumers can access these home service using a website as well as an application. The home services include domestic services, online shopping, and transportation.
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The market also presents a huge opportunity for foreign investment owing to currency risk which favors its role in making it cheaper to investment. Mexican consumers are strongly brand driven and primarily depend on reputation as they seek stability in the quality of the products. However, Mexican e-commerce sector is new and is not well established as people initially prefer to visit brick and mortar stores before venturing online. However, this behavior is changing as Mexican consumer is pivoting from being brand driven to buying new products online as their level of confidence in e-commerce grows.
Some of the prominent players in Mexico online on-demand home service are Aliada Inc. (Mexico), BlaBlaCar (France), Cornershop Inc (Mexico), Mercadoni (Colombia), Etsy, Inc. (France), and others.