Hyperlocal Services Market Share Growing Rapidly with Development, Recent Trends, Revenue and Forecast to 2018 - 2026

                                                                          
Hyperlocal services are those that are provided within a specific geographic area where sellers can deliver a product or service in a short period of time.

           Hyperlocal Services Market


Hyperlocal services are those that are provided within a specific geographic area where sellers can deliver a product or service in a short period of time. Delivery of goods and services are included in hyperlocal services; for example, delivery of goods includes food, groceries, drugs, furniture, and electronic items. The hyperlocal service model is distinguished by the fact that the entire supply chain is located relatively close to both the buyer and seller.

The proliferation of smartphones, growing urbanisation, changing consumer preferences, and improved lifestyles have been driving the growth of the Hyperlocal Services Market and will continue to do so during the forecast period. This is primarily due to increased funding for e-commerce businesses and the growing trend of business digitalization. Furthermore, many e-commerce behemoths are adopting and acquiring hyperlocal businesses in order to reduce transportation costs and significantly shorten delivery times.

Participants in the grocery and food delivery segment aggregate local restaurants and superstores via smartphone applications and provide products on demand. This assists participants in gaining trust in local shops through online shopping. Furthermore, the presence of a large untapped potential consumer base as well as almost daily food and grocery requirements will drive growth in these market segments.


Market Segmentation:

By Nature
  • Goods Delivery
  • Utility Services

By Type
  • Food Orderin
  • Grocery Ordering
  • Home Utility Service
  • Logistic Service Providers
  • Others
Industry is characterized by the presence of large number of players acquiring small hyperlocal services market shares. This is expected to continue over the forecast period, however, few industry participants have gained competitive edge over other participants. These participants include GrubHub, Just-Eat, Swiggy, Delivery Hero, Foodpanda group, BOXC, Shipster, and HelloFresh Group.

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