At 15.60% CAGR, Global Hyperlocal Services Market Size & Share to Surpass  US$ 5.02 Billion by 2027 | Industry Trends, Growth, Share, Opportunities, Statistics, Analysis & Forecast Report by IMARC

Global Hyperlocal Services Market Overview (2022-2027)

• Historical Market Size (2021): US$ 1.94 Billion

• Forecast CAGR (2022-2027): 15.60%

• Forecast Market Size (2027): US$ 5.02 Billion

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. 

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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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