The Global Personal Services Market Is Expected To Grow To $1.4 Trillion By 2021 According to TBRC’s Latest Report

The top five companies covered are Service Corporation International, Sears Holdings, Best Buy, Regis Corporation, and Weight Watchers International Inc. Service Corporation International was the largest company in the personal services market.

The personal services industry consists of establishments which provide personal services such as equipment and machinery repairing, personal and household goods repair and maintenance, dry cleaning and laundry, beauty and personal care services, pet care services, death care services, photofinishing services and domestic services such as domestic cleaning and cooking.

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The reason for the substantial growth of the market from $1.4 trillion in 2017 to $1.4 trillion by 2021 is the expected increase in demand for personal services due to increasing urban population, strong economic growth and rising disposable income in emerging markets, increasing awareness about personal care, growing pet population and changing consumer preferences.

The personal services market in The Business Research Company’s report is segmented into six segments. Other personal services and personal care services segment accounts for more than half of the market share and the remaining share is attributed to the other four segments.

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The USA was the largest country in the personal services market in 2017, accounting for more than three-tenth of the market share. This was mainly due to the increasingly use of innovative technologies and devices by pet care service providers to improve pet care and offer a wide range of services to customers. The USA was followed by China and Japan as the next largest countries in the market.

Service Corporation International was the largest competitor in the personal services market, followed by Sears Holdings and Best Buy. Service Corporation offers a range of death products, and funeral services. As of December 2016, the company operated 470 cemeteries, 1,502 funeral service locations in 45 states in the US and eight provinces in Canada, the District of Columbia, and Puerto Rico.

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