IMARC Group has recently released a new research study “Hyperlocal Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the Hyperlocal Services Industry?
The global hyperlocal services market size reached US$ 1.94 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 5.02 Billion by 2027, exhibiting a growth rate (CAGR) of 15.60% during 2022-2027.
What is a Hyperlocal Services?
Hyperlocal Services that are offered exclusively within a small geographic region are referred to as hyperlocal services.
They entail a courier agent picking up items from a vendor and then delivering them immediately to the buyer's address. Drugs, personal products, food and drink, electronics, and home utility services including plumbing, carpentry, laundry, electrical repair, and private tutors are all frequently obtained through hyperlocal services.
Also, hyperlocal helps restaurants, shops, and hotels engage customers and manage their operations successfully. Additionally, hyperlocal services promote operational transparency and offer simple, effective delivery in the shortest amount of time.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What are the major market drivers in the Hyperlocal Services Market ?
The rising proliferation of smartphones and the escalating demand for these facilities across e-commerce platforms or businesses for the fast delivery of goods are among the primary factors driving the hyperlocal services market.
Besides this, the elevating requirement for these benefits, owing to the hectic schedules, work-from-home (WFH) culture, changing consumer lifestyles, and the emerging trend of urbanization, is further augmenting the market growth.
The global market is also being stimulated by numerous technological developments in the logistics and automotive industries that use augmented reality (AR), automation, artificial intelligence (AI), data collection, and visibility to cut costs and offer a faster and more seamless delivery experience.
Additionally, a big growth-inducing aspect is the growing desire of consumers for online platforms that increase convenience and provide doorstep delivery, discounts, and combo packages.
Furthermore, the increasing investments in start-up businesses, the growing popularity of the farm-to-home concept for acquiring fresh produce, and the standardization of animal by-products (ABPs) are expected to bolster the hyperlocal services market in the coming years.
| Hyperlocal Services Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 1.94 Billion |
| Market forecast in 2027 | US$ 5.02 Billion |
| Growth Rate | CAGR of 15.60% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
| Report coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends |
| Segments covered | Nature, Type And Application |
| Regional scope | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Key companies profiled | Airtasker Pty. Ltd, Blink Commerce Private Limited, Delivery Hero SE, HelloFresh SE, Instacart, Just Eat Takeaway.com N.V., Olo Inc., Swiggy, Uber Technologies Inc., UrbanClap Technologies India Pvt. Ltd. and Zomato Limited. |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Nature: Goods Delivery Utility Services Breakup by Type: Food Ordering Grocery Ordering Home Utility Service Logistic Service Providers Others
Breakup by Application:
Individual Users Commercial Users
By Geography:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom,
Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia,
Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
List of Major Key Players: The competitive landscape of the industry has Airtasker Pty Ltd Blink Commerce Private Limited Delivery Hero SE HelloFresh SE, Instacart Just Eat Takeaway.com N.V. Olo Inc. Swiggy Uber Technologies Inc. UrbanClap Technologies India Pvt. Ltd. and Zomato Limited.
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