Hyperlocal Services Market By Nature (Goods Delivery, Utility Services), By Type (Food Ordering, Grocery Ordering, Home Utility Service, Logistic Service Providers, Pharmaceuticals, Pet Food and Medicines, Clothing and Accessories, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global hyperlocal service market was valued at $1,484.8 billion in 2021, and is projected to reach $5,851.7 billion by 2031, registering a CAGR of 14.4% from 2022 to 2031.
Hyperlocal businesses are the one where one wants to build a local ecosystem that enables customers to buy anything from their neighborhood stores. Hyperlocal ecommerce businesses will deliver food, medicine, consumer goods, and services to you. A special characteristic of this is that their entire supply chain is located close to the buyer as well as the seller. As this service solve the problem of matching immediate demand with the nearest available supply in the most optimized manner.
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 accessibility to the internet, smartphones proliferation has been primarily boosting the demand for hyperlocal services. Growing working population and rising income levels are propelling the online food and grocery delivery market. Furthermore, owing to increase in cases of COVID-19, some of the leading players such as McDonald’s Corporation, Domino’s Pizza Inc. and Zomato, have introduced contactless delivery services.
This is expected to boost the demand for the hyperlocal services market. E-commerce and M-commerce platforms are increasing adopting and acquiring the hyperlocal services 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.
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(Interior Design, Furniture Installation Services, Home Painting Services, Plumbing Services, Electronic Appliance Repair and Maintenance, Kitchen Cleaning and Maintenance, Car Cleaning Services, Carpet Sofa and Curtain Cleaning, Home Cleaning, Pest Control Services, Beauty and spa services, Salon Services, Pet care services, Childcare services, Waste Disposal, Professional Photographers, Yoga and Fitness and Others), logistic service providers, Pharmaceuticals, Pet Food and Medicines, Clothing and Accessories and others.
Based on 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
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hyperlocal services market analysis from 2021 to 2031 to identify the prevailing hyperlocal services market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hyperlocal services market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global hyperlocal services market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
- Food Ordering
- Grocery Ordering
- Home Utility Service
- Sub Type
- Interior Design
- Furniture Installation Services
- Home Painting Services
- Plumbing Services
- Electronic Appliance Repair and Maintenance
- Kitchen Cleaning and Maintenance
- Car Cleaning Services
- Carpet Sofa and Curtain Cleaning
- Home Cleaning
- Pest Control Services
- Beauty and spa services
- Salon Services
- Pet care services
- Childcare services
- Waste Disposal
- Professional Photographers
- Yoga and Fitness
- Logistic Service Providers
- Pet Food and Medicines
- Clothing and Accessories
- Utility Services
- Goods Delivery
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
- Key Market Players
- Housekeep Limited
- Grofers India Private Limited
- Just Eat Takeaway N.V.
- Delivery Hero SE
- Zomato Ltd.
- Uber Technologies, Inc.
- Urban Company
- Angi Inc.
- AskforTask Inc.