The global demand for Hyperlocal Services Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Hyperlocal services are the services provided inside a specific geographic area where sellers can deliver products or services in a short period. Hyperlocal service offerings include food delivery from restaurants, grocery from superstores, logistic services, and home utility services, including electrical repairing, plumbing, carpentry, laundry, and personal tutoring. Hyperlocal services provide various products and facilities that rely on smartphones with GPS technology.
Market Dynamics
The worldwide rise in the penetration of the IoT is one of the major reasons for the growth of the hyperlocal services market. Moreover, the busy lifestyle and increased number of working women boosts the demand for online food and grocery delivery, which fuels the growth of the hyperlocal services market. Additionally, urbanization and digitization, increased disposable income, and changes in consumer preference positively affect the hyperlocal services market growth. Furthermore, technological advancements in the services extend profitable opportunities to the market players in the upcoming years. However, growing competition and the difficulty of determining an appropriate geographical location hinder the market growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of hyperlocal services. The growth and trends of hyperlocal services industry provide a holistic approach to this study.
Market Segmentation
This section of the hyperlocal services market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Nature
- Goods Delivery
- Utility Services
By Type
- Food Ordering
- Grocery Ordering
- Home Utility Service
- Logistic Service Providers
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Hyperlocal Services market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Hyperlocal Services Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the hyperlocal services market include Delivery Hero, Just-Eat, Takeaway.com, GrubHub, Grofers (Locodel Solutions Pvt. Ltd), Instacart, Housekeep, Uber Technologies Inc., Handy, and Ask For Task (U.S.). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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