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 share & 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 represent the facilities that are provided within a limited geographical area. They involve the process of a courier agent picking up products from a seller and then delivering them directly to the address of the buyer.
Hyperlocal services are widely used for providing drugs, personal items, food and beverages, electronic gadgets, and home utility services, such as plumbing, carpentry, laundry, electrical repair, and private tutors.
In addition, hyperlocal assist restaurants, retailers, and hotels in engaging and managing their businesses effectively. Hyperlocal services also increase operational transparency and provide effortless and efficient deliveries in minimum 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.
Moreover, various technological advancements in the logistics and automotive sectors through augmented reality (AR), automation, artificial intelligence (AI), data collection, and visibility to reduce costs and provide a faster and seamless delivery experience are also catalyzing the global market.
Apart from this, the rising consumer preference towards online platforms that improve the convenience and offer doorstep delivery, discounts, and combo deals is acting as another significant growth-inducing factor.
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.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Nature:
Goods DeliveryUtility ServicesBreakup by Type:
Food OrderingGrocery OrderingHome Utility ServiceLogistic Service ProvidersOthersBreakup by Application:
Individual UsersCommercial UsersBy 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.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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