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Hyperlocal Delivery App Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Hyperlocal Delivery App Market
As per the report, the hyperlocal delivery app market size has grown exponentially in recent years. It will grow from $1.66 billion in 2023 to $2.09 billion in 2024 at a compound annual growth rate (CAGR) of 25.7%. The hyperlocal delivery app market size is expected to see exponential growth in the next few years. It will grow to $5.27 billion in 2028 at a compound annual growth rate (CAGR) of 26.0%.
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Growing E-commerce Ecosystem To Drive Hyperlocal Delivery App Market Expansion
The growing E-commerce ecosystem is expected to propel the growth of the hyperlocal delivery app market going forward. The e-commerce ecosystem refers to the complex and dynamic network of interconnected entities, processes, and technologies that enable online commercial activities. The growing e-commerce ecosystem is attributed to increasing internet penetration, the proliferation of smartphones, advancements in logistics and supply chain management, a shift in consumer purchasing behavior towards online shopping, and the convenience of digital payment options. Hyperlocal delivery apps enhance the e-commerce ecosystem by providing fast and efficient last-mile delivery services, improving customer satisfaction, reducing delivery costs, and supporting local businesses by expanding their reach. For instance, in May 2024, according to the United States Census Bureau, a US-based government agency, the U.S. retail e-commerce sales for the first quarter of 2024 reached $289.2 billion, a 2.1% increase (±0.7%) from the fourth quarter of 2023. Therefore, the growing E-commerce ecosystem is driving the hyperlocal delivery app market.
LocoNav Launches Advanced Route Optimization Feature To Enhance Fleet Efficiency
Major companies operating in the hyperlocal delivery app market are developing innovative solutions such as route optimization algorithms to enhance delivery efficiency, reduce fuel consumption, minimize delivery times, and improve operational cost-effectiveness. Route optimization algorithms analyze multiple variables such as delivery addresses, traffic conditions, vehicle capacities, delivery time windows, and road networks to determine the most efficient routes for delivery personnel. For instance, in April 2022, LocoNav, a US-based technology company providing fleet management solutions, launched an innovative route optimization feature to enhance fleet efficiency. This tool helps fleet managers find the most efficient routes by considering real-time traffic and weather conditions, thus reducing fuel and operational costs. It also improves fleet visibility, increases the number of trips per vehicle, and boosts customer satisfaction by ensuring faster deliveries.
The hyperlocal delivery app market covered in this report is segmented -
1) By Type: Web-Based Hyperlocal Delivery Apps, Mobile-Based Hyperlocal Delivery Apps, Other Types
2) By Industry: Retail And Consumer Packaged Goods (CPG), Medical And Healthcare, Food And Beverages, Courier Express And Parcel, Other Industries
3) By Application: Banking, Financial Services and Insurance (BFSI), Government, Information Technology (IT) And Telecommunication (Telecom), Healthcare, Energy And Utilities, Manufacturing, Other Applications
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Major companies operating in the hyperlocal delivery app market are Uber Technologies Inc., Delivery Hero SE, DoorDash Inc, Just Eat Takeaway.com, Glovo, Instacart, Deliveroo, Swiggy, Zomato Ltd., Grubhub, Zepto, Jungleworks, Postmates Inc., GoBrands Inc, DUNZO, FarEye Technologies Inc., Skedulo Holdings Inc., Bringg, Favor Delivery, Shipstation, LogiNext Solutions, Blink Commerce Private Limited, Clickpost, Rappi Inc., Stamps.com Inc.
Contents of the report:
1. Executive Summary
2. Hyperlocal Delivery App Market Report Structure
3. Hyperlocal Delivery App Market Trends And Strategies
4. Hyperlocal Delivery App Market - Macro Economic Scenario
5. Hyperlocal Delivery App Market Size And Growth
…..
27. Hyperlocal Delivery App Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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