Press release
Soaring Growth Expected for Hyperlocal Services Market: Tremendous Expansion from $2896.35 Billion to $6004.97 Billion Predicted by 2029
Hyperlocal Services Market
Hyperlocal services market expected to experience rapid growth, driven by urbanization, technological advancements, and increasing popularity of online shopping.
What Is The Projected Market Size Of The Global Hyperlocal Services Market And Its Growth Rate?
o The hyperlocal services market size has recently seen substantial growth, rising from $2896.35 billion in 2024 to $3367.9 billion in 2025 with a CAGR of 16.3%.
o Factors such as urbanization, growing demand for convenience and time-saving services, and proliferation of smartphones and mobile apps contributed to market growth in the historic period.
o The rapid growth trend is projected to continue, with the market expected to reach $6004.97 billion in 2029 at a CAGR of 15.6%.
o In the forecast period, growth is likely to be driven by the rise of the gig economy, advances in geolocation and mapping technologies, contactless transactions, and an increasing trend of localization.
What Is Driving The Growth In The Hyperlocal Services Market?
The historic period saw an increase in e-commerce business funding, which drove growth in the hyperlocal services market. E-commerce platforms are increasingly adopting hyperlocal services for swift delivery of goods and reduction of delivery times. According to the United States Census Bureau, e-commerce sales in the second quarter of 2024 reached $282.3 billion, a 5.3% increase from the first quarter of 2023. Moreover, e-commerce sales accounted for 16% of total retail sales for that quarter.
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Who Are the Key Players Driving Hyperlocal Services Market Growth?
o Delivery Hero SE
o AskforTask Inc.
o Blink Commerce Private Limited
o Grubhub Inc.
o Handy Technologies Inc.
o Housekeep Limited
o Maplebear Inc.
o Just Eat Limited
o Uber Technologies Inc.
o Airtasker Pty Ltd.
o Bundl Technologies Private Limited
o Foodpanda GmbH
o Porch Group Inc.
o ANI Technologies Private Limited
o UrbanClap Technologies India Pvt. Ltd.
o Mechlae Tech Mobility Solutions Private Limited
o Wishbee World Private Limited
o Cloudify Technologies Private Limited
o Wefast India Private Limited
o DC Foodiebay Online Services Private Limited
o Grab Holdings Ltd.
o PT Aplikasi Karya Anak Bangsa
o DoorDash Inc.
o Target Corporation
o Rappi Inc.
o Favor Delivery LLC
What Are The Key Trends In The Hyperlocal Services Market?
Key trends in the forecast period include:
o Advances in technology
o Adoption of blockchain technology for secure transactions
o Integration of artificial intelligence in service delivery platforms
o Integration of augmented reality (AR) for enhanced user experiences
o Increased focus on community engagement and local partnerships
What Are The Segments Of The Global Hyperlocal Services Market?
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
Which Region Leads The Hyperlocal Services Market?
North America was the largest region in the hyperlocal services market share in 2024. The hyperlocal services market report covers other regions including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Hyperlocal Services Market Global Market Report?
- Market Size Analysis: Analyze the Hyperlocal Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Hyperlocal Services Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Hyperlocal Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Hyperlocal Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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