Press release
Angi Estimates Total Addressable Market of $595B in New Economy of Everything Home Report
- Report estimates total of 728.3 million household projects for 2021 - The number of home service pros is estimated at 5.8 million DENVER, June 8, 2021
About this update from Angi Inc.
[{"type":"text","content":"- Report estimates total of 728.3 million household projects for 2021\n - The number of home service pros is estimated at 5.8 million\n\n\nDENVER, June 8, 2021 /PRNewswire/ -- Today, Angi, the digital marketplace transforming every touch point in caring for your home, released The Economy of Everything Home Report, which includes the most comprehensive and up-to-date estimate of the total addressable market (TAM) for home services in the U.S. This report, compiled by Angi's Chief Economist Mischa Fisher, estimates a TAM of $595 billion and a total of 728.3 million household projects for 2021. It also forecasts further growth in the market due to supply shortages, rising input prices, low interest rates, home equity gains, demographic trends and digital migration.\n\n This is Angi's second annual Economy of Everything Home Report, formerly known as the Home Service Market Report. It has been updated to incorporate the various sectors of the market more fully, as well as to weigh the factors driving its size, growth and evolution.\n\n The total addressable market of $595 billion can be broken down into three distinct sectors:\n\n \n Home improvement market: $376.9 billion and 148.5 million projects\n Home maintenance market: $157.7 billion and 500.3 million projects\n Home emergency repair market: $60.6 billion and 79.5 million projects\n \n \"As a leading digital consumer brand in caring for our homes, Angi is in a unique position to provide the most comprehensive analysis of the size of the market, where it is strongest, the people who compose it, and what we can expect in the future,\" said Oisin Hanrahan, CEO of Angi. \"2020 was a transformative year for the home as people's homes became more important due to the COVID-19 pandemic, and we saw homeowners' spending follow suit.\"\n\n This report's TAM estimates are built around Angi's thorough understanding of the demographics, housing units and professionals that comprise the market, as well as a comprehensive look at the cost of goods and services that make it possible to care for our homes.\n\n \"In addition to increased homeowner spending, prices for supplies and labor jumped, which all lead to considerable growth in the total addressable market,\" said Mischa Fisher, Chief Economist at Angi. \"Based on our research, we expect that number to continue to grow.\"\n\n A key fac...