Hyperlocal Services Market: Segmented: By Nature, By Type,
New York, June 29, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Hyperlocal Services Market: Segmented: By Nature, By Type, and By Region – Global Analysis of Market Size, Share, and Trends.” market for 2019–2021 and forecast to 2031″ – https://www.reportlinker.com/p06288809/?utm_source=GNW
Hyperlocal Services is designed to meet the needs of a specific geographic area. A tour of your neighborhood will almost certainly reveal a similar market, whether large or small, but self-sufficient in its own right, catering to virtually every resident’s need. In the field of e-commerce, the term “hyperlocal system” has recently become popular. Since the growing popularity of hyperlocal e-commerce platforms, grocery delivery, food ordering, housekeeping, personal care services and other services have taken on a new dimension. Although the notion is new, the globe is no longer new thanks to the widespread use of the Internet. It has the potential to take the offline seller’s business to new heights.
The global hyperlocal services market is expected to witness a remarkable CAGR of 16.7% by the end of 2031
During the projected period, the market is expected to be driven by the proliferation of smartphones, expanding urbanization, changing consumer preferences and better lifestyles. This is mainly due to the increase in e-commerce financing and the growing trend of business digitization. Additionally, several e-commerce behemoths are adopting and buying hyperlocal businesses to reduce transportation costs and shorten delivery times.
Global Hyperlocal Services Market: Segments
Freight Delivery Segment Expected to Grow with Peak CAGR in 2021-31
On the basis of nature, the hyperlocal services market is divided into goods delivery and utilities. The cargo delivery segment has grown significantly in recent years and is expected to continue in the future. Food, groceries, furniture, and medicine or pharmaceuticals are some of the items that can be delivered. The growth of the market has been driven by the growing number of smartphone users and the availability of online services in the cargo delivery segment. Moreover, customers are rapidly preferring online shopping platforms for various reasons including convenience, discounts, bundle deals, and cost effectiveness.
Home Utilities Segment Expected to Grow with Peak CAGR in 2021-2031
Based on type, the global hyperlocal services market is fragmented into food ordering, grocery ordering, home utility service, logistics service providers, and others. In previous years, the home utility category held the largest share of the hyperlocal services market, and this trend is expected to continue throughout the hyperlocal services market forecast period. In wealthy countries, home utilities have exploded in popularity. This is mainly due to a rigorous schedule, service innovation, improved mobile technology, greater connectivity and an urbanized population.
Growing Internet Proliferation and Internet Accessibility
The proliferation of smartphones has primarily boosted the demand for hyperlocal services due to their easy internet connectivity. Busy lifestyles and the increase in the number of women in the workforce are fueling the expansion of the online food and grocery ordering business, which in turn is fueling the hyperlocal services industry. Hyperlocal services are gradually being acquired and adopted by m-commerce and e-commerce platforms to reduce delivery times and costs. Hyperlocal services are in high demand as the e-commerce industry grows.
Big Giants Adopt and Acquire Hyperlocal Companies
The majority of major e-commerce giants are adopting and buying hyperlocal businesses to reduce transportation costs and shorten delivery times. Furthermore, the growing global labor force has increased urbanization in developing economies and the adoption of digitalization plans by many governments are all influencing the growth of the market.
The question of determining the appropriate geographical location
The growth of the Hyperlocal Services Market is hindered by the intensification of the competition and the difficulty in selecting the most suitable geographical location.
Global Hyperlocal Services Market: Key Players
Company overview, business strategy, key product offerings, financial performance, key performance indicators, risk analysis, recent development, regional presence, SWOT analysis
Delivery Hero Se
Grofers India Private Limited
Just Eat Takeaway.Com NV
Other top players
Global Hyperlocal Services Market: Regions
The global hyperlocal services market is segmented on the basis of regional analysis into five major regions: North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. North America was the most important market in 2020, accounting for the largest market share, and is expected to maintain this position throughout the forecast period. Growing investment in start-up companies and rapid adoption of technological changes are two important factors driving the expansion of the market in North America. During the pandemic, grocery orders and digital restaurant orders captured a significant share in the region as the public was advised to stay at home, creating high demand for hyperlocal services.
Impact of COVID-19 on the hyperlocal services market
The COVID-19 outbreak and its influence on online food ordering is expected to cause the food delivery service market size to dwindle considerably in emerging countries like India and China by 2020. This calculation is based on money earned from meal delivery. companies. The impact of the lockdown is benefiting food and grocery delivery businesses in several countries, including the United States.
The global hyperlocal services market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – US, Mexico & Canada
Latin America Market size, share, trends, opportunities, annual growth, CAGR – Latin America
European Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – UK, France, Germany, Italy, Spain, Russia & Rest of Europe
Asia-Pacific Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – India, China, South Korea, Japan, Australia and Rest of Asia-Pacific
Middle East & Africa Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – North Africa, South Africa & Rest of Middle East & Africa
The Global Hyperlocal Services Market Report Also Contains Analysis On:
Hyperlocal services market segments:
Delivery of goods
Home utility service
Logistics service providers
Dynamics of the hyperlocal services market
Hyperlocal services market size
Offer and demand
Competition and companies involved in the market
Market value chain
Market drivers and restraints
Scope and segmentation of the Hyperlocal Services Market report
Report attribute details
Market size value in 2021 USD 1,769.3 billion
2031 revenue forecast $8,308.7 billion
CAGR growth rate of 16.7% from 2021 to 2031
Base year for the estimate 2020
Quantitative Units Revenue in Million USD and CAGR from 2021 to 2031
Report Coverage Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends
Segments covered Nature, Type and Region
Regional scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Top companies featured Askfortask Inc., Delivery Hero Se, Grofers India Private Limited, Housekeep Limited, Instacart, Just Eat Takeaway.Com NV, Uber Technologies, Angi Inc, Urban Company, Zomato Limited and other prominent players.
Read the full report: https://www.reportlinker.com/p06288809/?utm_source=GNW
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