Concierge Services Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type Of Assistance (Transportation, HoReCa & Entertainment, Others), By End-User (Corporate, Personal), And By Geography - Forecasts From 2022 To 2027

The concierge services market is evaluated at US$612.512 million for the year 2020 and is projected to grow at a CAGR of 5.02% to reach a market size of US$862.509 million by the year 2027.

A concierge is a person or a company that specializes in personal help or other assistance services such as lifestyle management, household management, making vacation plans, travel, transportation, and so forth, and offers such tailored solutions to its customers (typically high-net-worth individuals) for a variable charge. The intent is to save time for clients by performing routine or specialized chores on their behalf.

Due to the sheer, ever-changing business climate, technological improvements, and industrial professionals' long hours, concierge services are indeed a relatively recent addition to the luxury market. The lives of people have been impeded by these restrictions, which have resulted in a reduction of time. They now wish for additional time or even for someone to complete the assignment for them so that they can focus on more essential things. Concierge services' business strategy capitalizes on this requirement.

The industry for such services is being driven by emerging nations and rising consumer income levels around the world. The booming hospitality industry, which has resulted in increased operational problems in hotels, restaurants, and travel agencies, is likely to drive employee adoption of concierge services. Operators of concierge services save time on paperwork, enabling them to provide better and quicker service to their customers. The service provider in the tourism business keeps track of all passport and visa procedures, baggage, and customs regulations that facilitate travellers. The demand for personalized services in the travel and hospitality industries is expected to rise as a result.

Over the predicted period, advanced technology will promote the utilization of such services. These technologies ensure that human intervention is kept to a bare minimum. Artificial intelligence integration aids in adapting to changing client vacation plans by providing multiple solutions. The Hyatt Hotel chain, for example, uses social media to connect with and understand customer needs.

Based on the type of assistance, the industry for concierge services is divided into transportation and HoReCa & entertainment. Shortly, the transportation assistance industry is anticipated to rise at a considerable CAGR. Customers that travel regularly use concierge services to determine the most efficient path to their destination and to improve their overall experience. Service providers are well-versed in the socio-cultural factors of travel and guarantee that the highest level of service is provided. Over the forecast period, the HoReCa & entertainment segment is expected to increase at a strong rate and hold the largest share. Spa services, transportation, meal reservations, client assistance, and event tickets are all things that concierge services may help with. While travelling, these services have an impact on young people.

The concierge service market is divided into corporate and personal sectors based on end-user. The personal user group is expected to expand rapidly. These concierge services are preferred by single-parent families, managers, and C-suite managers who are moving jobs. Over the projected period, the category is expected to rise due to the younger generation's growing popularity and willingness to pay more for luxury hotels and restaurants. Additionally, the increasing prevalence of event planning and the growing need for holding yearly celebrations and corporate parties are driving market growth in the corporate user category.

Asia-Pacific is predicted to increase at the quickest rate during the projection period. The existence of high-net-worth individuals in nations such as India, China, and Japan is aiding market expansion. China recorded 819 billionaires in 2018, as per CEOWORLD magazine, the most in the world by geographical proportion. Furthermore, transportation support services are likely to boost market expansion.

COVID-19 Impact on Concierge Services Market

The worldwide concierge service market has been heavily affected by the COVID-19 pandemic. Due to lockdown restrictions, the coronavirus has had a negative impact on all travel and transit activities. As a result of the absence of service requests from corporate and personal concierge services, the main participants' net sales have decreased.

Furthermore, amid the epidemic, businesses are focusing on meeting consumer demands remotely or via online services. Domestic flights are becoming more widely available around the world, which is predicted to promote the travel industry's growth. As a result, the concierge services industry is predicted to grow at a steady rate over the projection period.

Recent Development

Lyte, the technology platform rethinking ticketing for artists, fans, and live events, announced its first foreign alliance beyond North America in December 2020, with Ticketspace, New Zealand's event ticketing leader.

Based on the type of assistance, the industry for concierge services is divided into transportation and HoReCa & entertainment. Shortly, the transportation assistance industry is anticipated to rise at a considerable CAGR. Customers that travel regularly use concierge services to determine the most efficient path to their destination and to improve their overall experience. Service providers are well-versed in the socio-cultural factors of travel and guarantee that the highest level of service is provided. Over the forecast period, the HoReCa & entertainment segment is expected to increase at a strong rate and hold the largest share. Spa services, transportation, meal reservations, client assistance, and event tickets are all things that concierge services may help with. While travelling, these services have an impact on young people.

The concierge service market is divided into corporate and personal sectors based on end-user. The personal user group is expected to expand rapidly. These concierge services are preferred by single-parent families, managers, and C-suite managers who are moving jobs. Over the projected period, the category is expected to rise due to the younger generation's growing popularity and willingness to pay more for luxury hotels and restaurants. Additionally, the increasing prevalence of event planning and the growing need for holding yearly celebrations and corporate parties are driving market growth in the corporate user category.

Asia-Pacific is predicted to increase at the quickest rate during the projection period. The existence of high-net-worth individuals in nations such as India, China, and Japan is aiding market expansion. China recorded 819 billionaires in 2018, as per CEOWORLD magazine, the most in the world by geographical proportion. Furthermore, transportation support services are likely to boost market expansion.

Concierge Services Market Scope:

Report Metric	Details
Market size value in 2020	US$612.512 million
Market size value in 2027	US$862.509 million
Growth Rate	CAGR of 5.02% from 2020 to 2027
Base year	2020
Forecast period	2022–2027
Forecast Unit (Value)	USD Million
Segments covered	Type of assistance, End-User, And Geography
Regions covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies covered	Knightsbridge Circle, Quintessentially Group, MyConcierge, Pure Entertainment Group, Velocity Black, The Fixer Lifestyle group, Sky Premium International, The Billionaire Concierge, Bon Vivant
Customization scope	Free report customization with purchase

 

Market Segmentation

• By Type of assistance
  • Transportation
  • HoReCa & Entertainment
  • Others
• By End-User
  • Corporate
  • Personal
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Taiwan
    • Others

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Frequently Asked Questions (FAQs)

Q1. What will be the concierge services market size by 2027?
A1. The concierge services market is projected to reach a total market size of US$862.509 million by 2027. 

Q2. What is the size of the global concierge services market?
A2. Concierge Services Market was valued at US$612.512 million in 2020.  

Q3. What are the growth prospects for the concierge services market?
A3. The global concierge services market is projected to grow at a CAGR of 6.79% over the forecast period. 

Q4. What factors are anticipated to drive the concierge services market growth?
A4. The booming hospitality industry, which has resulted in increased operational problems in hotels, restaurants, and travel agencies, is likely to drive employee adoption of concierge services.

Q5. Which region holds the largest market share in the concierge services market?
A5. Asia-Pacific is predicted to increase at the quickest rate in the concierge services market during the projection period.

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