Global Hyperlocal Services Market is valued at approximately USD 1970.08 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 14.9% over the forecast period 2022-2029. Hyperlocal Services are a type of service that is offered within a limited geographic area in which sellers deliver products and services in minimum time period. Hyperlocal services comprised of delivery of products and services including utility and logistics services and delivery of products such as groceries. Food etc. The increasing smartphone penetration and growing expansion of e-commerce industry as well as strategic initiatives from leading market players are key factors accelerating the market growth.

The increasing penetration of smartphones and high-speed internet services is contributing to the growth of the Global Hyperlocal Services Market. For instance, according to Statista - as of 2022, revenue in the global Smartphones segment is estimated at USD 450 billion, and the market is expected to grow annually by 2.87% in the 2022-2027 period to grow to USD 518.4 billion by end of 2027. Moreover, as per Statista - in 2021, global retail e-commerce sales were estimated at USD 5.2 trillion, and this figure is projected to grow by 56 percent over the coming period to grow to USD 8.1 trillion by 2026. Also, growing urbanization in developing regions and increasing trend of business digitalization would create a lucrative growth prospectus for the market over the forecast period. However, increasing competition and additional fees charged by hyperlocal Marketplaces stifle market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Hyperlocal Services Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the increasing penetration of high-speed internet services and presence of leading market players in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising digitization across the industries and increasing adoption of smartphones coupled with rising emergence of hyper delivery platforms in the region.

Major market players included in this report are:

AskforTask Inc.

Delivery Hero Se

Grofers India Private Limited

Housekeep Limited

Instacart

Just Eat Takeaway.Com N.V.,

Uber Technologies

Angi Inc

Urban Company

Zomato Limited

Recent Developments in the Market:

In July 2020, Walmart backed Flipkart announced the launch of its hyperlocal delivery services in India. Initially, this service would be rolled out in Bangaluru and later out would be extended to other cities of the country.
Global Hyperlocal Services Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: Nature, Type, Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Nature

Goods Delivery

Utility Services

By Type

Food Ordering

Grocery Ordering

Home Utility Service

Logistic Service Providers

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

RoLA

Rest of the World