Press release
Hyperlocal Services Market Outlook 2024: Exclusive Report By The Business Research Company | Delivery Hero SE, AskforTask Inc., Blink Commerce Private Limited, Grubhub Inc., Handy Technologies Inc
Hyperlocal Services Market Characteristics
The Business Research Company offers in-depth market insights through Hyperlocal Services Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The hyperlocal services market size has grown rapidly in recent years. It will grow from $2521.66 billion in 2023 to $2944.16 billion in 2024 at a compound annual growth rate (CAGR) of 16.8%. The growth in the historic period can be attributed to increased urbanization, growing demand for convenience and time-saving services, increased disposable income, rising trend of e-commerce, proliferation of smartphones and mobile apps, growing demand for on-demand services.
The hyperlocal services market size is expected to see rapid growth in the next few years. It will grow to $5239.87 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%. The growth in the forecast period can be attributed to rise of the gig economy and freelance workforce, advances in geolocation and mapping technologies, rise of contactless and cashless transactions in hyperlocal services, rising trend of localization, increasing popularity of online shopping. Major trends in the forecast period include advancements in technology, adoption of blockchain technology for secure transactions, integration of artificial intelligence in service delivery platforms, integration of augmented reality (ar) for enhanced user experiences, increased focus on community engagement and local partnerships.
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Market Segmentation:
The hyperlocal services market covered in this report is segmented -
1) By Type: Food Orders, Grocery Orders, Household Utilities, Logistics Service Providers, Other Types
2) By Nature: Goods Delivery, Utility Services
3) By Revenue Model: Subscription, Advertisement, Sponsorship, Other Revenue Models
4) By Device: Smartphones, Smart TVs, Projectors and Monitors., Laptop, Desktops and Tablets, Other Devices
5) By Application: Individual Users, Commercial Users
Major Driver - E-Commerce Funding Drives Hyperlocal Services Market
The growing funding for an e-commerce business has driven the hyperlocal services market in the historic period. The increased funding for an e-commerce business is because the e-commerce business or platforms are adopting hyperlocal services for the fast delivery of goods and services along with reducing time. According to the India Brand Equity Foundation (IBEF), an Indian Government export promotion agency, in July 2021, Flipkart got funding of $36.5 billion from different sources such as private equities, Walmart, and sovereign funds. Therefore, the growing funding for an e-commerce business is driving the growth of hyperlocal services.
Competitive Landscape:
Major companies operating in the hyperlocal services market report are Delivery Hero SE, AskforTask Inc., Blink Commerce Private Limited, Grubhub Inc., Handy Technologies Inc., Housekeep Limited, Maplebear Inc., Just Eat Limited, Just Eat Takeawaycom NV, Uber Technologies Inc., Airtasker Pty Ltd., Bundl Technologies Private Limited, Foodpanda GmbH, Porch Group Inc., ibibo Group Private Limited, ANI Technologies Private Limited, Zimmer Biomet Holdings Inc., UrbanClap Technologies India Pvt. Ltd., Mechlae Tech Mobility Solutions Private Limited, Wishbee World Private Limited, Cloudify Technologies Private Limited, Wefast India Private Limited, DC Foodiebay Online Services Private Limited, Grab Holdings Ltd., PT Aplikasi Karya Anak Bangsa, Postmates Inc., DoorDash Inc., Target Corporation, Rappi Inc., Favor Delivery LLC, Caviar Inc.
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https://www.thebusinessresearchcompany.com/report/hyperlocal-services-global-market-report
Top Trend - Technological Innovations Drive Hyperlocal Services
Technological advancements and integrations are shaping the hyperlocal services market. Technological advancements are the discovery of knowledge that helps in developing services using technology. For instance, in 2021, EatFit, Indian based largest healthy food platform integrated with MapmyIndia to improve the application experience using the location technology of MapmyIndia that provides the routing algorithm for tracking and distance matrix APIs to find and enable EatFit kitchen discoverability to optimize the delivery network.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Hyperlocal Services Market Characteristics
3. Hyperlocal Services Market Trends And Strategies
4. Hyperlocal Services Market - Macro Economic Scenario
5. Hyperlocal Services Market Size And Growth
…..
27. Hyperlocal Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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