The latest research study “Hyperlocal Services Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global hyperlocal services market size reached US$ 1.94 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 5.02 Billion by 2027 exhibiting a CAGR of 15.60% during 2022-2027.
What is a Hyperlocal Services?
Hyperlocal services represent the facilities that are provided within a limited geographical area. They involve the process of a courier agent picking up products from a seller and then delivering them directly to the address of the buyer.
Hyperlocal services are widely used for providing drugs, personal items, food and beverages, electronic gadgets, and home utility services, such as plumbing, carpentry, laundry, electrical repair, and private tutors.
In addition, hyperlocal assist restaurants, retailers, and hotels in engaging and managing their businesses effectively. Hyperlocal services also increase operational transparency and provide effortless and efficient deliveries in minimum time.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What are the major market drivers in the Hyperlocal Services Market ?
The rising proliferation of smartphones and the escalating demand for these facilities across e-commerce platforms or businesses for the fast delivery of goods are among the primary factors driving the hyperlocal services market.
Besides this, the elevating requirement for these benefits, owing to the hectic schedules, work-from-home (WFH) culture, changing consumer lifestyles, and the emerging trend of urbanization, is further augmenting the market growth.
Moreover, various technological advancements in the logistics and automotive sectors through augmented reality (AR), automation, artificial intelligence (AI), data collection, and visibility to reduce costs and provide a faster and seamless delivery experience are also catalyzing the global market.
Apart from this, the rising consumer preference towards online platforms that improve the convenience and offer doorstep delivery, discounts, and combo deals is acting as another significant growth-inducing factor.
Furthermore, the increasing investments in start-up businesses, the growing popularity of the farm-to-home concept for acquiring fresh produce, and the standardization of animal by-products (ABPs) are expected to bolster the hyperlocal services market in the coming years.
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Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Nature:
· Goods Delivery
· Utility Services
Breakup by Type:
· Food Ordering
· Grocery Ordering
· Home Utility Service
· Logistic Service Providers
· Others
Breakup by Application:
· Individual Users
· Commercial Users
Based on the Application, the report finds that the Technology sector dominates the market. There are many ongoing development projects undertaken by various nations, which require a continuous flow of electricity. Owing to this, there is a rising demand for power inverters in this sector.
By Geography:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom,
Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia,
Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
List of Major Key Players:
The competitive landscape of the industry has Airtasker Pty. Ltd, Blink Commerce Private Limited, Delivery Hero SE, HelloFresh SE, Instacart, Just Eat Takeaway.com N.V., Olo Inc., Swiggy, Uber Technologies Inc., UrbanClap Technologies India Pvt. Ltd. and Zomato Limited.
𝐊𝐞𝐲 𝐡𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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