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.
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
By Type
- 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
- Others
- Logistic Service Providers
- Pharmaceuticals
- Pet Food and Medicines
- Clothing and Accessories
- Others
By Nature
- Utility Services
- Goods Delivery
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Housekeep Limited
- Grofers India Private Limited
- Instacart
- Just Eat Takeaway N.V.
- Delivery Hero SE
- Zomato Ltd.
- Uber Technologies, Inc.
- Urban Company
- Angi Inc.
- AskforTask Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: HYPERLOCAL SERVICES MARKET, BY NATURE
CHAPTER 5: HYPERLOCAL SERVICES MARKET, BY TYPE
CHAPTER 6: HYPERLOCAL SERVICES MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Hyperlocal Services Market," the hyperlocal services market was valued at $1.5 trillion in 2021, and is estimated to reach $5851.7 billion by 2031, growing at 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.
Growing utility of smartphones and its user base is lucrative opportunities for the new entrants and growing funding for the start-ups through government and big giants are further adding to the growth of the hyperlocal services market. Key players in the market have adopted new product launch, continuous innovation, and acquisition as their key developmental strategies to fulfill the rising demand for hyperlocal services including online food, grocery, furniture, home services, and drugs Jugnoo acquired SubKuchFresh, an online grocery store in 2021, to strengthen hyperlocal services India. Jugnoo is India's 3rd largest ride-hailing company, operating in 50+ cities pan-India.
Improvement in economic conditions is a key factor that contributes toward the growth of the hyperlocal service market. Increase in per capita disposable income enhances spending capacity of consumers, leading to rise in expenditure on food and home services and it also results in improved lifestyle, which in turn, garner the growth of hyperlocal service market. In addition, disposable income in the developing countries of Asia such as India and China have witnessed a significant growth in the past few years, thus, increasing the expenditure on online shopping, which drives the growth of the global market.
The Chinese market is growing manifold on account of rapid increase in purchasing power. Developing markets have experienced a rapid increase in the number of hotel restaurants, retail outlets and that sell variety of frozen foods, including pizza, cakes, bakery, and poultry products. Major fast-food players and hotel chains have heavily invested for the expansion in Asia-Pacific and other developing markets. Furthermore, Latin American markets including Brazil and Argentina are growing rapidly, as consumer expenditure on luxury food items is increasing.
High digital illiteracy rate is expected to hamper the growth of the hyperlocal service market during the forecast period. This is attributed to the fact that digital illiteracy limits internet usage and hampers the sale of smartphones, which negatively impacts the growth of the hyperlocal service market. Limited digital infrastructure facilities to access the internet further acts as a key restraint of the hyperlocal service market. As hyperlocal service are majorly availed through internet enabled smartphone applications. Moreover, limited access to internet and computers, especially in school and colleges leads to rise in digital illiteracy, which, in turn, hampers the growth of the market. For instance, according to Annual Status of Education Report (ASER) 2018, in around 596 government schools of 619 districts, merely 21.3% of the students have access to computers. Thus, all these factors collectively have a negative impact on the overall hyperlocal service market growth during the forecast period.
Changes in food habits and busy lifestyle of consumers have led to an increase in demand for various hyperlocal services such as food delivery, grocery ordering, home utility services, furniture delivery, and drug delivery. For instance, Uber Eats accounted for $4.8 billion in 2020, a 152% growth year over year. As of May 2021, the company controlled over 25% of the food delivery market in the U.S. with the average delivery time of 30 minutes. Therefore, quick delivery and busy lifestyle is driving the market growth altogether. In addition, rapid changes in the supporting factors such as disposable income, consumer preferences, and digitization result in rise in demand for hyperlocal services.
To analysis, the global hyperlocal services market is segmented into type, nature, and region. The study highlights various types of hyperlocal services, which include food ordering, grocery ordering, home utility service, logistic service providers and others. The report provides information about nature of hyperlocal services which include goods delivery and utility services. The study further covers the revenue generated by hyperlocal services across various regions such as 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).
In addition, the report covers strategies adopted by key market players to sustain the competitive environment and increase their market share. Delivery Hero, Just-Eat, Takeaway.com, GrubHub, Grofers, Instacart, Housekeep, Uber Technologies Inc., Handy, AskForTask are some of the major players discussed in the report.
Companies Mentioned
- Housekeep Limited
- Grofers India Private Limited
- Instacart
- Just Eat Takeaway N.V.
- Delivery Hero SE
- Zomato Ltd.
- Uber Technologies, Inc.
- Urban Company
- Angi Inc.
- AskforTask Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 341 |
| Published | February 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 1484.8 billion |
| Forecasted Market Value ( USD | $ 5851.7 billion |
| Compound Annual Growth Rate | 14.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
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