Concierge Services Market Size, Share & Trends Analysis Report By Type of Assistance (Transportation, HoReCa & Entertainment), By End User (Corporate, Personal), By Region, And Segment Forecasts, 2019 - 2025

Industry Insights

The global concierge services market size was valued at USD 537.6 million in 2018 and is expected to register a CAGR of 5.3% from 2019 to 2025. Many top-level managers, VIP customers, celebrities, and other consumers outsource routine or specialized tasks to concierge services or personal assistance services. to save time. Other factors such as lack of work-life balance, busy work schedules, and time constraints are projected to boost the demand for concierge services.

Growing disposable income and economies are the major factor driving the growth of the concierge services market. Growing network and partnership of concierge service providers with hotels, restaurants, and travel service providers are ensuring smooth operation and execution of the specific tasks assigned by clients. These factors are helping service providers to meet consumers' needs, deliver services as promised, and gain consumer trust. High Net Worth Individuals (HNWIs) are boosting the demand for personalized services to optimize their time. Concierge service providers take care of all the time-consuming documentation in a professional way to make traveling a stress-free experience for the consumers. Service providers take account of all visa and passport services, baggage, duty-free items pick-up, and customs procedures making the travel easy and convenient.

The growing trend of on-demand customized services is increasing the demand for concierge services. These services allow consumers to pay only for the services they avail of and reduce the burden of annual contracts and membership fees. For instance, in 2017 Bentley, a British luxury carmaker tested Bentley on Demand luxury concierge experience for consumers in Los Angeles, Dallas, and New York. Consumers who wish to drive Bentley while traveling or wish to have a different Bentley model experience for different occasions can place their needs via the Bentley Network app.

The growing influence of technology is also expected to support the growth in demand for concierge services by minimizing human intervention. The introduction of artificial intelligence provides better suggestions and options to clients as per their changing needs and travel plans. For instance, Wyndham’s Wingate hotels and Starwood’s Aloft hotels are working with Intelity, a software company to provide transportation, dining, recreation, and shopping information to guests via mobile devices. Hyatt Hotels use social media platforms like Hyatt Concierge to address consumer needs.

Type of Assistance Insights

Transportation assistance is estimated to expand at a CAGR of 5.0% over the forecasted period. Frequent travelers opt for concierge services to get the best experience of the location and to find a hassle-free route to commute. These companies are well versed in all the legal, social, and cultural aspects of traveling, thus they provide a seamless travel experience to the clients.

HoReCa and entertainment assistance are estimated to continue holding the largest market share over the forecasted period. These concierge services take care of restaurant bookings, arranging spa services, transportation, procuring special event tickets, and assisting client guests. Millennials prefer exploring lavish hotels, restaurants, and events while traveling, which in turn is anticipated to boost the demand. The increasing influence of culinary arts coupled with growing luxury hotels and high-end restaurant reservations is supporting the demand for HoReCa assistance. Consumer interest in live concerts, operas, and shows coupled with difficulty getting VIP passes is driving demand for entertainment assistance for concierge services. Consumers opt for these services to get access to private events, fashion events or sold-out sports events.

End-User Insights

The personal segment is estimated to register the fastest CAGR of 6.1% over the forecasted period. C-suite executives, single parents, and executives relocating to new job locations are willing to opt for concierge services to hand over their stressful and time-consuming tasks. Rising demand from millennials is anticipated to further fuel the segment growth as they are willing to spend money on exploring exotic destinations and luxury hotels and planning culinary travels.

The corporate segment is estimated to continue its dominance in terms of market share over the forecasted period. The growth is attributed to increasing demand for event planning and organizing corporate parties and annual functions. Many service providers have a smaller number of corporate clients, however, the frequent requests and high prices are anticipated to bode well for the growth. The provision of concierge services to onsite staff is also one of the prominent factors driving the growth of the market.

Regional Insights

Asia Pacific is estimated to register the fastest CAGR during the forecast period, attributed to the growing number of HNWIs in countries such as China, Japan, Singapore, and India. As per CEOWORLD Magazine LTD, in 2018 China had a total of 819 billionaires, which is more than any other country in the world boosting the demand for concierge services to optimize their time. In the Asia Pacific, transport assistance is growing at a faster rate owing to increasing foreign trips for vacation and business purposes.

North America is estimated to continue holding the largest market share over the forecasted period owing to the higher adoption of concierge services. As per the U.S. Bureau of Labor Statistics, in 2018, the average time an American spent on leisure and sports accounted for just 5.27 hours. Rising efforts to increase leisure time by outsourcing time-consuming tasks are anticipated to propel regional growth.

Concierge Services Market Share Insights

Major market players include Quintessentially Group, Knightsbridge Circle, John Paul Group, Pure Entertainment Group, MyConcierge, The Fixer Lifestyle group, Velocity Black, Sky Premium International, Bon Vivant, and The Billionaire Concierge. The market is fragmented owing to the presence of regional service providers and local concierges.

Growing HNWIs are continuously raising the bar for concierge service providers. The companies provide on-demand services to non-membership consumers to increase consumer reach and adoption. For instance, MeetnGreetMe, a Europe-based global platform offers concierge services by local people with a reach across more than 298 cities.

Along with the supply and demand principle, the services directly depend on the spontaneity of service, consumer expenditure behavior, and trends of exploring luxury in terms of travel and accommodation. Companies take additional efforts to meet unique consumer demands to gain trust and popularity. For instance, Quintessentially Group, closed the Sydney Harbor Bridge to allow a member to propose to his fiancée or arranged dinner on an iceberg.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global concierge services market report on the basis of type of assistance, end user, and region:

• Type of Assistance Outlook (Revenue, USD Million, 2015 - 2025)

  • Transportation

  • HoReCa & Entertainment

• End-User Outlook (Revenue, USD Million, 2015 - 2025)

  • Corporate

  • Personal

• Regional Outlook (Revenue, USD Million, 2015 - 2025)

  • North America

    • The U.S.

  • Europe

    • France

    • The U.K.

  • Asia Pacific

    • China

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa (MEA)

    • UAE