$3.5bn
$XXX.Xm
113k
109k
$XXX.Xm
Operators in the Business Concierge Services industry handle everything from appointment management to running errands, making travel reservations and even providing transportation. Once exclusively the domain of celebrities and affluent professionals, business concierge service companies have increasingly targeted private households and corporate employees to fulfill a variety of their household management tasks. This expansion in clientele has helped the industry gain prominence. As a result, industry revenue has been increasing at an annualized 8.6% over the past five years, and is expected to total $3.5 billion going into 2023. This includes an increase of 2.6% in 2023 alone.Industry revenue was marginally helped by a decade-long decline in the amount of leisure time for the average American. Due to this increase in household working hours, employers began contracting industry operators to provide concierge services as a benefit or perk for their employees. The industry is able to record a high profit margin mainly due to the relatively low operating expenses required for providing concierge services.Entering 2028, industry revenue is forecast to increase at an annualized 1.9%, reaching an estimated $3.9 billion. The Business Concierge Services industry will benefit from improving per capita disposable income, particularly among households that earn more than $100,000, which is one of the industry's primary markets. Furthermore, corporate profit is expected to increase an annualized 10.3% during the outlook period. Additionally, concierge services targeting seniors will likely be another key area of growth for the industry. These senior care services generally encompass administrative assistance, errand and courier services, mail delivery and other household management service offerings. Demand for these services is expected to grow due to the gradual aging of the US population.
Industry revenue has grown at a CAGR of 8.6 % over the past five years, to reach an estimated $3.5bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
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There are no companies that hold a large enough market share in the Business Concierge Services in the US industry for IBISWorld to include in this product.
Business Concierge Services in the US
Industry revenue is measured across several distinct product and services lines, including Other tasks, Shopping and Entertainment and dining arrangements. Other tasks is the largest segment of the Business Concierge Services in the US.
Entertainment and dining arrangements are used by more corporate clients
This industry comprises establishments that provide concierge services for business executives, employees and individuals. Concierges provide a variety of services, including running errands, grocery and personal shopping, making travel and restaurant reservations, and home management. Services may be provided in-person, by telephone or online. Companies that function like brokers to match client requests with available freelance concierges are excluded from this industry.
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NAICS 81299 - Business Concierge Services in the US
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A variety of services are offered to companies by the United States' comparatively small and highly fragmented Business Concierge Services industry. These services frequently...
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There is no particular government or organizational oversight of the business concierge services industry's ongoing operations. Instead, the industry is governed by the usual...
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The expenses associated with the Business Concierge Services industry differ from one operator to another, as they are dependent on factors such as the size of the operator, t...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Business Concierge Services in the US industry in United States is $3.5bn in 2024.
There are 109k businesses in the Business Concierge Services in the US industry in United States, which has grown at a CAGR of 5.5 % between 2019 and 2024.
The market size of the Business Concierge Services in the US industry in United States has been growing at a CAGR of 8.6 % between 2019 and 2024.
Over the next five years, the Business Concierge Services in the US industry in United States is expected to grow.
Arranging travel and Shopping are part of the Business Concierge Services in the US industry.
The level of competition is high and steady in the Business Concierge Services in the US industry in United States.