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Concierge Services Market

Concierge Services Market Size, Share & Segmentation by Services (Infrastructure Integration, Application Integration, and Consulting), by End-use (IT & Telecom, Defense & Security, BFSI, Oil & Gas, Healthcare, Transportation, Retail, and Others), by Regions and Global Market Forecast 2022-2028

Report Id: SNS/ICT/2576 | July 2022 | Region: Global | 125 Pages

Report Scope & Overview:

The Concierge Services Market size was valued at USD 628.40 Million in 2021 and is expected to reach USD 894.29 Million by 2028, and grow at a CAGR of 5.17 % over the forecast period 2022-2028.

A concierge is an individual or a company that specializes in personal assistance or other assistance services such as household management, lifestyle management, transportation, travel and vacation planning, and so on, and offers such personalized services to its clients (typically high-net-worth individuals) at a variable price.

Concierge Services Market

A Concierge services industry is a huge service sector that focuses on handling little chores for customers. This service industry is known for being extremely fast and customized for each client. A Concierge services Market includes a variety of modest operations such as holiday planning, travel booking, lifestyle management, professional appointments, and household management.

Many celebrities, top-level managers, VIP clients, and other consumers outsource mundane or specialized chores to concierge or personal assistant services in order to do their work effectively. The consumer does this to save time and get the job done efficiently. The primary consumers for this service market are those who have a lack of work-life balance, less time, and must travel frequently due to busy work schedules. These consumers can easily hand over their small tasks to the concerned person or organization, who will take care of all the services required by the consumer and make their life easier. As a result, the demand for Concierge services is always rising.

MARKET DYNAMICS:

KEY DRIVERS:

  • Increasing discretionary income and economic growth.

  • Concierge services are expected to grow in popularity as a result of a lack of work-life balance, hectic work schedules, and time restrictions.

IMPACT OF COVID-19:

The epidemic of Covid-19 has had a severe influence on the Concierge Services Market. With regard to the industries. Major firms have halted operations in numerous places due to the lockdown and social distancing practices. Following the pandemic, the sector anticipates a surge in requirements and demand due to increased urbanization and the growing need for efficient use of available space. Coronavirus Market Situation and Competitors: - Analysts collect current information on COVID-19 in this paper, give crucial insights, and assist the reader in identifying new business prospects associated with the pandemic. Product development pipelines, diagnostic testing methodologies, vaccine development programs, regulatory approvals, and other topics are covered.

MARKET ESTIMATION:

Over the anticipated period, transportation assistance is expected to grow at a CAGR. Frequent travelers use concierge services to get the most out of their trip and to locate the most convenient way to move about. These organizations are well-versed in the legal, social, and cultural elements of travel, allowing them to give clients a smooth travel experience. Over the anticipated period, HoReCa and entertainment assistance are expected to continue to have the biggest market share. Concierge services handle meal reservations, spa treatments, transportation, special event tickets, and helping client guests. Millennials love discovering luxurious hotels, restaurants, and activities while traveling, which is expected to increase demand. The expanding importance of culinary arts, along with an increase in luxury hotels and high-end restaurant bookings, is fueling the demand for HoReCa help. Consumer interest in live concerts, operas, and musicals, combined with the difficulties of obtaining VIP credentials, is boosting demand for concierge services that provide entertainment support. Customers use these services to gain entrance to private events, fashion shows, and sold-out sporting events.

The personal category is expected to grow at the quickest rate, with a CAGR of percent during the anticipated period. C-suite executives, single parents, and professionals traveling to new employment locations are willing to use concierge services to delegate their time-consuming and difficult chores. Rising millennial demand is expected to boost category expansion, as they are prepared to spend money on discovering exotic countries, staying in luxury hotels, and organizing gourmet vacations. The corporate category is expected to maintain its market share dominance during the anticipated period. The increased demand for event planning and organizing corporate parties and yearly celebrations is attributable to the rise. Many service providers have fewer corporate clients; yet, frequent requests and high fees are expected to auger well for development. One of the major elements driving market expansion is the provision of concierge services to onsite workers.

KEY MARKET SEGMENTS:

On The Basis of Type of Assistance

  • Transportation

  • HoReCa & Entertainment

On The Basis of End-User

  • Corporate

  • Personal

Concierge Services Market

REGIONAL ANALYSIS:

Due to the expanding number of HNWIs in countries like China, Japan, Singapore, and India, Asia Pacific is expected to have the quickest CAGR throughout the projected period. China has thousands of billionaires, more than any other country in the world, increasing demand for concierge services to help them maximize their time. Transport aid is developing at a quicker rate in the Asia Pacific, owing to an increase in overseas visits for holidays and business. Because of the increased adoption of concierge services, North America is expected to retain the greatest market share during the anticipated period. Increased efforts to improve free time by outsourcing time-consuming chores are expected to drive regional growth.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

Quintessentially Group, Knightsbridge Circle, John Paul Group, Pure Entertainment Group, My Concierge, The Fixer Lifestyle group, Velocity Black, Sky Premium Internation, Bon Vivant, and The Billionaire Concierge

Concierge Services Market Report Scope
Report Attributes Details
Market Size in 2021 USD 628.40 Million
Market Size by 2028 USD 894.29 Million
CAGR CAGR 5.17% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Services (Infrastructure Integration, Application Integration, and Consulting)
• by End-use (IT & Telecom, Defense & Security, BFSI, Oil & Gas, Healthcare, Transportation, Retail, and Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, +D11UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Quintessentially Group, Knightsbridge Circle, John Paul Group, Pure Entertainment Group,      My Concierge, The Fixer Lifestyle group, Velocity Black, Sky Premium Internation, Bon Vivant, and The Billionaire Concierge
Key Drivers •Increasing discretionary income and economic growth.
•Concierge services are expected to grow in popularity as a result of a lack of work-life balance, hectic work schedules, and time restrictions.


Frequently Asked Questions (FAQ) :

Ans: - The estimated market size for the Concierge Services market for the year 2028 is USD 894.29 Million.

Ans: - Concierge services are expected to grow in popularity as a result of a lack of work-life balance, hectic work schedules, and time restrictions.

Ans: - The segments covered in the Concierge Services Market report for study are on the basis of type of assistance and End-user.

Ans. The primary growth tactics of Concierge Services market participants include merger and acquisition, business expansion, and product launch.

Ans: - Manufacturers, Research Institutes, university libraries, suppliers, and distributors of the product.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of the Ukraine- Russia war

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7. PEST Analysis

 

8. Concierge Services Market Segmentation, by Type of Assistance

8.1 Transportation

8.2 HoReCa & Entertainment

 

9. Concierge Services market Segmentation, by End-User

9.1 Corporate

9.2 Personal

 

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4 Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6 Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

 

11. Company Profiles

11.1 Quintessentially Group

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 SWOT Analysis

11.1.4 The SNS view

11.2 Knightsbridge Circle           

11.3 John Paul Group

11.4 Pure Entertainment Group                   

11.5 MyConcierge

11.6 The Fixer Lifestyle group

11.7 Velocity Black

11.8 Sky Premium Internation

11.9 Bon Vivant

11.10 The Billionaire Concierge

 

12. Competitive Landscape

12.1 Competitive Benchmarking

12.2 Market Share Analysis

12.3 Recent Developments

 

13. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of a good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach a stage wherein we can provide our clients best and most accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research as the name suggests is a research process wherein, we collect data through readily available information. In this process, we use various paid and unpaid databases to which our team has access and gather data through the same. This includes examining listed companies’ annual reports, Journals, SEC filling, etc. Apart from this, our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various universities as well as individual libraries.

Secondary Research

Step 2: Primary Research

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Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply sides of the industry to make sure we land an accurate judgment and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses, and observation of on-field participants. The below-mentioned chart should give a better understanding of part 1 of the primary interview.

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