Online Hyperlocal Services Market Trends, Growth, & Key Business Strategies by Leading Industry Players Delivery Hero AG, Instacart, Uber Technologies, Rocket Internet SE, Ibibogroup (redBus, goibibo, and ryde), Airtasker, ANI Technologies, AskForTask, Sw

Coherent Market Insights has announced the addition of the “Online Hyperlocal Services Market Size Status and Forecast 2026”, The report classifies the global Online Hyperlocal Services Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.

This report studies the global Online Hyperlocal Services Speaker market, analyzes and researches the Online Hyperlocal Services Speaker development status and forecast in North America, Europe, Asia Pacific, Latin America and Rest of the World. This report focuses on the top players in global market, like Delivery Hero AG, Instacart, Uber Technologies, Rocket Internet SE, Ibibogroup (redBus, goibibo, and ryde), Airtasker, ANI Technologies, AskForTask, Swiggy

High proliferation of mobile and internet enabled smart devices, growing internet penetration, and shifting inclination of consumers from physical stores and services to on-demand services is expected to be the major factor leveraging the global online hyperlocal services market growth. Online hyperlocal services refer to the online businesses that utilize online applications on smartphone or websites and GPS technology to cater to the service requirements of well-defined regional population or community. These businesses include an extensive range of services and product delivery as part of its offerings, which includes food, groceries, concierge, logistics, automobile, home services, beauty services, networking, and laundry services. End consumers range from individual to commercial and enterprise consumers that require on-demand services or immediate solutions to their needs.

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Increasing competition among key players to enhance their consumer base has led to significant investments in promotional campaigns and marketing strategies, and this is anticipated to fuel growth of the market

Significant discounts on signing in on a multiple platforms and continuous changes in product pricing to attract large consumer base are among the key strategies for the new market entrants in this industry space. This in turn has led to increased competition among the global and local industry participants, compelling the participants to introduce frequent discounts and competitive product pricing for better consumer retention. Affordable costs and efficient delivery of services are expected to be among the major factors that are expected to propel the global online hyperlocal services market growth over the forecast period.

Global Online Hyperlocal Services Market, By End Use:

Individual Users
Commercial Users

Global Online Hyperlocal Services Market, By Service:

Food Ordering
Grocery Ordering
Home Utility Service
Logistics Service Providers
Others

Grocery ordering segment is expected to witness highest growth over the forecast period. Value propositions offered by the players in terms of optimum price, quality products, easy website navigation, and home delivery is among the chief factors driving the segment growth.

North America dominated the global online hyperlocal services market share in 2016. Developed Internet infrastructure, high penetration of Internet enabled devices, and high adoption of e-businesses owing to the requirement of on-demand services are among the prominent factors that have positively influenced growth of the region. Asia Pacific market is expected to witness highest growth rate over the next few years, owing to high untapped consumer base in the region and changing lifestyle in the region. Moreover, growing middle class population, increasing spending capacity, and increasing Internet penetration are among the major factors that are expected to influence growth in the region. According to the Internet World Stats estimations in 2017, China and India together contributed to over 1.2 billion Internet users as of June 2017. Development of the Internet infrastructure and online businesses in the region are expected to provide substantial growth opportunity over the forecast period.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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This release was published on openPR.