Blockchain Press Releases

KSA’s On-Demand Home Service Market Set to Cross $3 Billion by 2027: How Will Busy Lifestyles Shape the Market Future? Ken Research

Published

1 year ago

July 5, 2023

GURUGRAM, India, July 5, 2023 /PRNewswire/ — KSA On-Demand Home Service Market is at growing stage and has fragmented market. There are ~800+ services providers and ~10 marketplaces in the Market.

Top 3 players such as Healthy Homes, Muheel and Urban Company in market hold major share. The market is largely driven by Prevalence of Diseases, Convenience and Accessibility. The players compete with each other on the basis of its Business USP, Services Catered, Booking Mode, Ratings on App, etc.

1. Untapped Potential: The 30% On-Demand Home Services Market That Still Prefers Full-Time Maids and Unorganized Workers.

The complete potential market comprises the entire population, with an average household size of 5.2 individuals. In the Kingdom of Saudi Arabia, majority of the households are considered a serviceable addressable market for cleaning services, excluding those residing in rural areas or those with lower incomes.

Around 30% of the industry remains untapped, as the majority of these households already have full-time maids or established contacts with unorganized service workers. Consequently, they do not prefer to book on-demand home services through marketplaces or service providers.

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2. The Competitive Landscape of On-Demand Home Services Industry: A Battle for Service Quality and Price Dominance Between Marketplaces and Service Providers.

The likelihood of a new competitor entering the market is moderate to low due to the dominance of over 800 existing offline service providers, who hold a majority of the market share. The market is highly fragmented, with unorganized players comprising more than half of the industry and offering home services at lower prices. Organized players also offer similar services at competitive prices.

In this industry, references and word-of-mouth recommendations are crucial. Many well-established service providers have a loyal customer base, resulting in a higher customer retention rate. There are numerous marketplaces and service providers that offer on-demand home services, making it easy for customers to switch between them. The market is highly competitive, with players having a wide presence across the country. Customers are always on the lookout for better discounts or promotional offers.

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Market Taxonomy

KSA On-Demand Home Service Market Segmentation

By Type of Services

Cleaning
Maintenance and Repairs
Others

By Cities

Metropolitan (Riyadh, Jedda and Dammam)
Others (Rest KSA)

By Deployment

Online
Offline

For More Insights On Market Intelligence, Refer To The Link Below: –

KSA On-Demand Home Service Market

Related Report by Ken Research: –

UAE On-Demand Home Services Industry Outlook to 2026: Driven by changing consumer lifestyle and increasing adoption of digitally enabled services

The market size is expected to grow at a five-year CAGR of ~9.7% by 2026. It is anticipated that the increasing growth of the market size will be fueled by increasing number of service offerings by all the marketplaces and service providers, increasing customer awareness regarding the ease of accessibility of these on-demand home services and growing e-commerce platforms providing services to buyers in a short timeframe.

India Online Food Delivery Outlook to 2025- Growth Supported by Advent of Cloud Kitchen and Discounts Offered by Food Delivery Aggregators

The demand is expected to grow with a CAGR over 25% during the period 2019-2025. The demand is expected to be driven by growing penetration into Tier 2 and Tier 3 cities. The future is expected to witness other E-commerce companies such as Amazon debuting into online food delivery service. The cloud kitchen space is further expected to grow with aggregators offering infrastructure to amateur players. Technologies such as drone delivery and 3D food printing are expected to boost the operational efficiency of the market.

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Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
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Blockchain Press Releases

Bybit Expands On-Chain Earn Offering with SUI Staking

Published

1 hour ago

December 10, 2024

CISION (PR Newswire)

bybit-expands-on-chain-earn-offering-with-sui-staking

DUBAI, UAE, Dec. 10, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announces the addition of SUI to its On-Chain Earn platform, providing users the ability to participate in blockchain security while earning staking rewards. To mark this launch, a 12,000 SUI bonus pool will be available to eligible participants staking SUI during the event period.

Event Details

Duration: From now until Jan. 3, 2025, 11:59 PM (UTC)
Bonus Pool: 12,000 SUI, distributed proportionally based on participants’ staking amounts.

Key Features of SUI Staking on Bybit

Higher APY Potential: On-chain staking offers competitive annual percentage yields.
Simplified Process: Bybit handles minor fees and distributes daily staking rewards directly to users.
Support for Blockchain Decentralization: Staking supports the decentralization and security of blockchain networks.
Flexibility: Participants can stake and redeem with ease, offering both convenience and accessibility.

Staking Mechanics and Reward Distribution

Users staking SUI on Bybit’s On-Chain Earn during the event must maintain a staking period of at least 24 hours to qualify for earnings and the bonus pool. Rewards will be credited to users’ Funding Accounts daily at 6:00 AM UTC, with no limits on the potential daily SUI earnings.

“We are excited to enhance our On-Chain Earn platform with the addition of SUI staking,” said Joan Han, Sales and Marketing Director of Bybit. “This staking initiative reflects our commitment to empowering users with innovative and accessible ways to grow their crypto assets.”

Bybit On-Chain Earn is an easy-to-use staking service that lets users earn rewards by staking crypto directly on the blockchain. Staking can be complicated, often requiring technical expertise and specialized hardware. Bybit On-Chain Earn simplifies this process by managing all the complexities — gas fees, node operations, and reward distribution — so users can stake popular PoS cryptocurrencies like ETH and SOL with just a few clicks.

Find out more: SUI-percharge with On-Chain Earn: Stake SUI to Earn up to 12,000 SUI

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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View original content:https://www.prnewswire.co.uk/news-releases/bybit-expands-on-chain-earn-offering-with-sui-staking-302327648.html

Blockchain Press Releases

Bybit Launches On-Chain Earn: Up to 3% APR with $cmETH and Guaranteed ETH Rewards

Published

1 hour ago

December 10, 2024

CISION (PR Newswire)

bybit-launches-on-chain-earn:-up-to-3%-apr-with-$cmeth-and-guaranteed-eth-rewards

DUBAI, UAE, Dec. 10, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce the launch of its cmETH On-Chain Earn Party, offering users the opportunity to earn up to 3% APR by pledging $cmETH during the event period from Dec. 2, 2024, 10:00 UTC, to Feb. 28, 2025, 23:59 UTC.

This innovative program is designed to simplify Ethereum staking, providing guaranteed bonus ETH yields, seamless daily payouts, and effortless one-click convenience. Bybit On-Chain Earn continues its commitment to delivering user-focused solutions that maximize rewards and reduce complexity for its community.

Why Choose $cmETH with Bybit?

Guaranteed Bonus Yield in ETH:
Bybit eliminates the challenge of managing multiple staking rewards by offering a guaranteed ETH bonus yield for $cmETH holders, simplifying the staking process.
Daily Payouts:
Enjoy daily ETH distributions directly credited to your Funding Account for effortless earnings access.
One-Click Convenience:
Bybit makes staking easy with a seamless process to mint $cmETH from ETH or restake $mETH to $cmETH with just one click.

“At Bybit, we are committed to empowering our community with innovative and user-friendly crypto solutions,” said Joan Han, Sales and Marketing Director of Bybit. “With On-Chain Earn, we’re providing an effortless and rewarding way for users to make the most of their holdings, reaffirming our dedication to simplifying the crypto experience while maximizing benefits.”

Bybit’s On-Chain Earn reflects its dedication to empowering users with simple, efficient, and rewarding cryptocurrency solutions. To learn more about eligibility, snapshot criteria, and additional details, visit the Bybit On-Chain Earn page.

#Bybit / #TheCryptoArk

About Bybit

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View original content:https://www.prnewswire.co.uk/news-releases/bybit-launches-on-chain-earn-up-to-3-apr-with-cmeth-and-guaranteed-eth-rewards-302327647.html

Blockchain Press Releases

Bybit Web3 Boosts its Supports to L1 Ecosystems at Taipei Blockchain Week 2024 with Co-hosted Solana and Sui Events

Published

4 hours ago

December 10, 2024

CISION (PR Newswire)

bybit-web3-boosts-its-supports-to-l1-ecosystems-at-taipei-blockchain-week-2024-with-co-hosted-solana-and-sui-events

DUBAI, UAE, Dec. 10, 2024 /PRNewswire/ — Bybit, the world’s second-largest crypto exchange by trading volume, marks its 6th anniversary with a vibrant presence at Taipei Blockchain Week 2024. Dedicated to fostering Web3 innovation and ecosystem building, Bybit Web3 showcases its collaborative efforts and thought leadership across blockchain and Layer 1 communities.

Collaborative Highlights with Ecosystem Partners

1. Sui Ecosystem Deep Dive

Bybit Web3 will collaborate with the Sui Foundation, Ondo, DeepBook, Scallop, NAVI, and other leading projects to discuss the future of the Sui blockchain. A special livestream even t, hosted by Head of Spot and Web3, Emily Bao at Bybit, “Mass Adoption vs. Native Growth: What’s next for Sui,” will take place on December 13, 2024, at 8 AM UTC. Participants may also get to win from a prize pool of $1,000 in SUI during the interactive sessions.

2. Co-hosting Community Events
Bybit Web3 is actively involved in the wider conversation at Taipei Blockchain Week by co-hosting two exciting side events, with MK Chin, Marketing Lead, Bybit Web3:

Solana Ecosystem Taipei Greetings: This event, co-hosted by Solana Foundation, Solar, and Bybit Web3, supported by Orderly Network, Zetachain, ApePro and Sonic, will bring together multiple ecosystem players in the Solana ecosystem for a dynamic gathering.
Taiwan DeFi Flow: This event, co-hosted by Sui, Scallop and Bybit Web3, fosters networking among DeFi industry peers, aiming to spark partnerships and collaborations.

During the Taipei Blockchain Week, Angela Huang, Bybit’s VIP Relationship Manager, will also serve as the host for three days of insightful discussions, panels, including moderating two conversations on:

Bybit’s activities at Taipei Blockchain Week 2024 reflect its mission to champion decentralized technologies, bridge traditional finance and decentralized finance conversations, and amplify the voices of women in technology. Through innovation-driven collaborations, Bybit is accelerating pathways to mass adoption while nurturing vibrant Web3 communities.

#Bybit / #BybitWeb3

About Bybit Web3

Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.

Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 50 million users globally.

Join the revolution now and open the door to your Web3 future with Bybit.

For more details about Bybit Web3, please visit Bybit Web3.

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume with 50 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

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View original content:https://www.prnewswire.co.uk/news-releases/bybit-web3-boosts-its-supports-to-l1-ecosystems-at-taipei-blockchain-week-2024-with-co-hosted-solana-and-sui-events-302327062.html

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