Concierge Service Market Size, Growth and Share by Manufacturers 2025

Felton, California , USA, Dec 23, 2020 — /EPR Network/ — The global concierge services market size is estimated to reach USD 773.3 million, by 2025, and is anticipated to grow at a CAGR of 5.3% from 2019 to 2025, according to the new report by Million Insights. Developing economic conditions and increasing income of middle age group is expected to propel the demand for concierge services. Moreover, high net worth individuals (HNWI) are mainly driving the growth of such services. Newly advanced technologies are supporting to provide the best service quality and high-end consumer experience. For example, Wyndham’s Wingate and Starwood’s hotels have collaborated with a company called Intelity to offer better dining management and shopping information which can be accessed via smartphones.

In addition, increasing demand for customized services is propelling the demand for this service. For example, in May 2017, Bentley has tested the on-demand luxury service for its consumers in New York, Los Angeles, and Dallas. MeetnGreetMe, a European company also offers these services with its presence across 298 cities.

Get Free PDF Sample Copy of the Report (Including Full TOC, List of Tables & Figures, Chart and Covid-19 Impact Analysis): https://www.millioninsights.com/industry-reports/global-concierge-services-market/request-sample 

Impact of COVID-19 Insights

The COVID-19 pandemic has negatively impacted the global concierge service market. Coronavirus has adversely affected all travel and transportation activities owing to lockdown restrictions. Thus, the key participants have witnessed a decline in their net sales owing to lack of service demand from corporate & personal concierge services. For example, Knightsbride Circle have suffered loss of revenue due to reduction in service demand.

Further, amid the pandemic the companies are focusing on catering consumer demands through remote or virtual service. Domestic flights have opening up across the globe are expected to boost the growth of travel industry. Thus, the market for concierge services is projected to grow at steady rate over the forecast period.

People who travel frequently use the concierge services for finding best route to their commutation and for getting better experience. HoReCa & entertainment segment is expected to hold the largest share in the overall market. Growing travel industry and growing customer inclination towards exploring new restaurants and hotels is expected to proliferate the market growth. The consumers are preferring concierge services for hosting fashion events, private events owing to their greater access to the service.

Youngsters and adults get influenced by these services while traveling and is expected to foster the market demand. Single parents, executives, and C-suite executives who are changing their job positions due to stress and other problems, prefer the concierge services. Corporate segment is anticipated to hold largest share in the forecast period, due rising demand for managing functions, social gatherings, corporate events, and parties.

In 2018, Asia Pacific held the largest concierge service market share in the overall market. Presence of large number of high net worth individuals (HNWI) across countries such as India, China, and Japan is mainly contributing to the market growth.

Further key findings from the report suggest:

  • Based on type of assistance, transportation segment is projected to grow at the significant CAGR of 5.0% from 2019 to 2025.
  • Personal user segment is anticipated to register the fastest growth with a CAGR of 6.1% from 2019 to 2025.

Global Concierge Service Market: Key Players

Knightsbridge Circle, Quintessentially Group, MyConcierge, Velocity Black, The Fixer Lifestyle group, Sky Premium International, and The Billionaire Concierge. 

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