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Instant Home Services Market: The instant home services market is experiencing a boom. This figure is steadily increasing across the country. Let's learn more about it.

Home service apps see surge in bookings

Home Services Apps Growth: In cities, people are increasingly using apps for both small and large household services. People are relying on these apps for services like maids, plumbers, and mechanics. This is why the number of instant home service platforms has increased rapidly. Now, more than 10 million people use them every month.

According to a report in Moneycontrol, the total monthly active users of platforms like Urban Company, Pronto, and Snabbit reached nearly 10.4 million in March. This includes approximately 6.5 million users for Urban Company, 2.7 million for Pronto, and approximately 1.2 million for Snabbit.

The growing presence of new platforms

• A Morgan Stanley report shows that Urban Company still leads in terms of users. However, newer platforms are also rapidly gaining ground.
• In March, Pronto's app download share was 43%, higher than Urban Company's 31% and Snabbit's 26%. This clearly shows that Pronto is rapidly adding new users.

New players are making their place

Bookings also saw a sharp increase.

Not only has the number of users in this segment increased, but the number of bookings has also risen sharply. Urban Company reported in March that its InstaHelp platform had surpassed 1 million monthly bookings shortly after launch.

Meanwhile, Pronto handles around 18,000 bookings daily, bringing its monthly total to over 500,000 orders. Snabbit is also growing rapidly and has indicated it could soon reach 1 million monthly bookings.

Questions about profits

The sector's rapid growth has boosted investor confidence. However, the question remains whether these instant home service platforms will be able to sustain profits over the long term.