The global concierge services market size is expected to
reach USD 773.3 million by 2025, according to a new report by Grand View
Research, Inc. It is projected to register a CAGR of 5.3% during the forecast
period. Economic development coupled with increasing disposable income is
driving the demand of concierge service. High Net Worth Individuals (HNWI’s)
are the major shareholders in the market as they choose concierge services to
optimize their time and to outsource time consuming tasks. Growing influence of
technology and social media is also enhancing the turnaround time of the
services. For instance, Wyndham’s Wingate hotels and Starwood’s Aloft hotels
are working with Intelity, a software company to provide transportation,
dinning, recreation, and shopping information to its guest via mobile devices.
On-demand concierge
services is gaining traction among consumers as they allow them to pay for only
what they are seeking and reduce the burden of annual contracts, fees, and
membership. For instance, in 2017 Bentley, German owned British luxury carmaker
tested Bentley on-demand luxury concierge experience for consumers in Los
Angeles, Dallas, and New York. Consumers who wish to drive Bentley can place
their need via Bentley Network app. Also, MeetnGreetMe, a Europe-based global
platform offers concierge services by locals with reach in more than 298
cities.
Frequent travelers are
opting for transportation assistance to for the best traveling experience and
finding hassle-free route to commute. HoReCa and entertainment assistance held
the largest market share in 2018. Consumer inclination to explore new places,
services, lavish hotels, and restaurants is anticipated to propel the growth.
Consumer prefer concierge services to get to private events, fashion events,
and sold out sports events owing to the assurance of getting the access.
Millennials are willing
to spend money on exploring exotic destinations, luxury hotels, and planning
culinary travel, which in turn is projected to fuel the demand for concierge
service in personal segment. C-suite executives, single parents, and executives
relocating to new job locations opt for concierge services for their mundane,
stressful, and time-consuming tasks. Corporate holds the largest share of the
market owing to increasing demand for event planning, organizing corporate
parties, and annual functional gathering in the industry.
Asia Pacific is estimated
to be the fastest growing market for concierge service in 2018 owing growing
number of HNWI’s in countries such as China, Japan, Singapore, and India. North
America, on the other hand, held the largest market share in 2018 and is
estimated to continue leading over the forecasted period owing to high adoption
of the services.
For full research report on Concierge
Services Market visit here: https://www.grandviewresearch.com/industry-analysis/concierge-services-market
Further key findings from the report
suggest:
- Transportation assistance is estimated to register a
CAGR of 5.0% over the forecast period owing to strong growth of the
tourism market
- Personal segment is estimated to expand at the
fastest CAGR of 6.1% over the forecasted period
- Some of the key players operating in the global
concierge service market include Quintessentially Group, Knightsbridge
Circle, John Paul Group, Pure Entertainment Group, and MyConcierge
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/concierge-services-market/request/rs1
Grand View Research has segmented the global concierge
service market on the basis of type of assistance, end user, and region:
Concierge Service Type of Assistance
Outlook (Revenue, USD Million, 2015 - 2025)
- Transportation
- HoReCa & Entertainment
Concierge Service End User Outlook
(Revenue, USD Million, 2015 - 2025)
- Corporate
- Personal
Concierge Service Regional Outlook
(Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- France
- U.K.
- Asia Pacific
- China
- Japan
- Central & South America
- Brazil
- Middle East & Africa
- UAE
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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