Overview:

The global hyperlocal services market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. The hyperlocal services are referred as providing services within the limited geographical area. In this various type of services included such as food ordering and delivery, grocery delivery, personal care products delivery, healthcare products delivery, and some others.

The hyperlocal service caters demand of specific small area hence the all components of supply chain such as sellers, distributors, and end customers are located nearly to each other. This result in short time product or service delivery and requires very low or negligible transportation cost.

Market Dynamics:

Growing internet and smartphone penetration is a key factor driving growth of the global hyperlocal services market. Also, rising E-commerce penetration is propelling growth of the target market across the globe.

In addition, increasing urbanization, changing lifestyle, increasing disposable income, economic development, and growing consumer base are other key factors resulting in growth of the target market. Further, rising support from government authorities for digitization in many countries is fueling growth of the target market.

Moreover, rising number of service providers and rising awareness through social media advertising among end users are among the other factors resulting in growth of the target market. However, internet connectivity issues in rural areas may adversely affect growth of the global market to a certain extent.

Key Trends:

Rising focus on fund raising activity among key players is a key trend observed in the global market. For instance, in February 2019, Dunzo has raised US$ 422 K from the CEO of MakeMyTrip Deep Kalra and around US$ 3.1 Mn series C round of funding from a group of prolific investors. This kind of trend is expected to drive growth of the global hyperlocal services market in the near future.

Regional Analysis:

For detailed understanding of market dynamics, the global hyperlocal services market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently the North America region is dominating the target market in terms of market share. This is due to early adoption of hyperlocal services and various online services including E-commerce. In addition, high awareness about services among the end users and availability of required infrastructure are some other factors have resulted in growth of the target market at initial period in the region.

However, the hyperlocal services market in Asia Pacific is expected to register a highest CAGR during the forecast period. In addition, Europe is expected to witness significant growth in the near future. This is attributed to rising dependence on various online services, rising working population, increasing consumer base, and growing smartphone penetration.

Scope of the Report:

Detailed Segmentation:

Global Hyperlocal Services Market, By End User:

• Individual
• Commercial

Global Hyperlocal Services Market, By Services

• Food Ordering
• Grocery Ordering
• Home Utility Services
• Logistics Services
• Other Services

Key Players Covered:

Key players operating in the global hyperlocal services market includes, Grubhub Inc., Just Eat, Delivery Hero SE, Swiggy, Mountain Trail Foods Pvt Ltd. (BoxC), HelloFresh SE, ShipsterUSA, Zomato Media Pvt Ltd., Just Eat Takeaway.com, and AskforTask.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Hyperlocal Services Market by end user, services, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global hyperlocal services market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.