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Hyperlocal Services Market Grow At a CAGR of 14.9% From 2021 to 2030, is Expected to Rise $5,188.60 Billion by 2030 | Takeaway.com, Housekeep, Uber Technologies Inc., Handy and Ask For Task

01-25-2023 05:09 AM CET | Logistics & Transport

Press release from: Allied Market Research

Hyperlocal Services Market

Hyperlocal Services Market

A new report, titled, "Hyperlocal Services Market by Nature, by Type: Global Opportunity Analysis and Industry Forecast, 2020-2030. The Hyperlocal Services Market Size was valued at $1,714.60 billion in 2020, and is estimated to reach $5,188.60 billion by 2030, growing at a CAGR of 14.9% from 2021 to 2030". The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape.

Access Full Summary: https://www.alliedmarketresearch.com/hyperlocal-service-market

Growing smartphone user base and internet accessibility is majorly driving the growth of the Hyperlocal Services Market. The Hyperlocal Services Market is also being driven by changing lifestyle and willingness to adopt with technological changes. Furthermore, consumers are more including toward online purchasing owing to benefits associated such as time saving, discounts, and number of options to choose. Collectively, all these Hyperlocal Services Market Trends are favoring the growth of the market. The market is highly unorganized with numerous small localized players, which restrains the market. In addition, growth in consumer preference for premium services and brands, and penetration of the hyperlocal service even in remote areas are expected to drive the market.

Hyperlocal service refer to order services and goods by consumers within limited or well-defined geographic location, from where seller delivers goods in minimum time period. Hyperlocal service includes online delivery of goods such as food, grocery, and online services including personal care and growing, house cleaning, plumbing and lawn care. These delivery services are ordered form local services providers in nearby places, which results in decrease in delivery time and cost.

According to the analysis of Hyperlocal Services Market Analysis, the market is segmented on the basis of type, nature, and region.

By type, it is categorized into food ordering, grocery ordering, home utility service, logistic service providers, others. By nature, it is divided into goods delivery and utility services. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia, Italy, Spain, Rest Of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

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On the basis of type, the food ordering segment was valued at $349.7 billion in 2020, and is projected to reach $1,178.2 billion by 2030, registering a CAGR of 16.1% from 2021 to 2030. This is majorly attributed to extensive promotion of the online food delivery platforms through discounts, referring awards, and TV and social media advertisements. Many companies are expanding their market share by applying various strategies such as merger, acquisitions, and partnership, which likely to boost the growth of the online food delivery market during the Hyperlocal Services Market Forecast period.

Furthermore, increased utility of smartphones and its user base is projected to offer lucrative Hyperlocal Services Market Opportunities for offline services providers to use online platforms to boost their business. On the basis of region, Europe has gained significant market share in hyperlocal service in 2020 and is expected to continue its market holding during the forecast period. This was attributed to the presence of international brands in the region, and growing funding for the start-up business. Big giants in Europe have been consistently expanding their market share by acquiring hyperlocal service business, which further adds to the growth of the Europe Hyperlocal Services Market.

In addition, Lockdown in Europe has been creating more demand for food and grocery delivery, which is expected to fuel the growth of the market. For instance, according to German based food delivery company, Delivery Hero SE, 92% online orders increased in the first quarter of lockdown, which is expected to intensify the growing demand for online food ordering services.

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Key findings of the study:

• The hyperlocal service market was valued at $1714.6 billion in 2020, and is estimated to reach $5188.6 billion by 2030, growing at a CAGR of 14.9% during the forecast period.
• By type, the grocery ordering segment is estimated to witness the fastest growth, registering a CAGR of 17.5% during the forecast period.
• In 2020, by nature, the goods delivery segment was valued at $714.0 billion in 2020 and it accounted for 41.6% of the global Hyperlocal Service Market Share.
• In 2020, the U.S. was the most prominent market in North America, and is projected to reach $1,885.3 billion by 2030, growing at a CAGR of 13.7% during the forecast period.

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Read More Insights: https://bit.ly/3WiYgSJ

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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