Hyperlocal Services Market by Type (Food Ordering, Grocery Ordering, Home Utility Service, Logistic Service Providers, Others), and Nature (Goods Delivery and Utility Services): Global Opportunity Analysis and Industry Forecast, 2021–2027
New York, Sept. 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hyperlocal Services Market by Type, and Nature : Global Opportunity Analysis and Industry Forecast, 2021–2027" - https://www.reportlinker.com/p05955115/?utm_source=GNW
The hyperlocal service market size was valued at $1,324.2 billion in 2019, and is estimated to reach $3,634.3 billion by 2027, registering a CAGR of 17.9% from 2021 to 2027.
Hyperlocal service companies provide delivery of a goods and utility services to consumers, goods delivery including groceries, food, medicines, personal items and others, and utility services includes plumbing, home cleaning, lawn care, electrical and drainage. All these goods and services are provided through network of boys from business or individuals in local areas. Hyperlocal services platforms help restaurants, hotel, fast food outlets, fruit or vegetable, seafood, meat and other retailers to effectively engage & manage their business without worrying about delivery.
Easy associability to the internet, smartphones proliferation has been primarily boosting the demand for hyperlocal services. Busy lifestyle and increased women working age population further boost the growth of the online food and grocery ordering market, which in turn fuel the growth of the hyperlocal services market.
E-commerce and M-commerce platforms are increasing adopting and acquiring the hyperlocal services in order to reduce delivery cost and time. Growth in e-commerce business creates extensive demand for the hyperlocal services. For instance, according to India Brand Equity Foundation, The Indian e-commerce market is expected to grow to $200 billion by 2026 from $38.5 billion as of 2017.
Hyperlocal utility services are expected to gain major traction in developing countries during the forecast period; this is majorly attributed to growing disposable income, high working age population, and high inclination to have comfort providing services which creates demand for the various utility services including home services, logistic, and personal tuitions services. Home utility services include home cleaning, home remolding, roofing, lawn care, personal care, electrical, and appliance repair. These home utility services are in huge demand in developed countries owing to lack of time and domestic help but in developing countries its demand is significantly growing during the forecast period.
The report segments the hyperlocal service market on the basis of type, nature and region On the basis of type, the market is segmented into food ordering, grocery ordering, home utility service, logistic service providers and others. On the basis of nature, it is segmented into goods delivery, and utility services. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The major players operating in the market are Delivery Hero, Just-Eat, Takeaway.com, GrubHub, Grofers, Instacart, Housekeep, Uber Technologies Inc., Handy and AskForTask
KEY BENEFITS FOR STAKEHOLDERS
• The study provides an in-depth analysis of the global hyperlocal service market, with current and future trends to elucidate the imminent investment pockets in the market.
• Current and future trends are outlined in the report to determine the overall market attractiveness and single out profitable trends to gain a stronger foothold in the market.
• The report provides information regarding drivers, restraints, and opportunities with impact analysis.
• A quantitative analysis of the current market and estimation for the same from 2019 to 2027 is provided to showcase the financial competency of the market.
• Porter’s five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
• Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
• Competitive intelligence highlights business practices followed by leading market players across various regions.
KEY MARKET SEGMENTS
• By Form
o Internet Radio
• By Revenue Model
• By Device
o Smart TVs, Projectors & Monitors.
o Laptop, Desktops & Tablets
• By Region
o North America
- Rest Of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
Read the full report: https://www.reportlinker.com/p05955115/?utm_source=GNW
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