Portand, OR, June 08, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global hyperlocal services market was estimated at $1,714.60 billion in 2020 and is expected to hit $5,188.60 billion by 2030, registering a CAGR of 14.9% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Proliferation of smartphones, growing urbanization, changing consumer preference, and improving lifestyle drive the growth of the global hyperlocal services market. Furthermore, people, nowadays, prefer online platforms for shopping owing to the benefits associated including doorstep delivery, convenience, discounts, combo offers, and cost-effectiveness, which has created lucrative opportunities in the industry.
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Covid-19 scenario-
- When there was a significant decrease in the food delivery service market size in 2020, in developing economies such as China and India, and in some countries like the United States, the impact of lockdown was found to be advantageous for the food and grocery delivery services.
- That’s how the pandemic has had a mixed impact on the global hyperlocal services market.
The global hyperlocal services market is analyzed across nature, type, and region. Based on nature, the utility services segment accounted for the major share in 2020, holding nearly three-fifths of the global market. The goods delivery segment, however, would exhibit the fastest CAGR of 15.6% throughout the forecast period.
Based on type, the home utility service segment generated the highest share in 2020, accounting for more than two-fifths of the global market. The grocery ordering segment, on the other hand,would portray the fastest CAGR of 17.5% from 2021 to 2030.
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Based on region, the market across North America held the lion’s share in 2020, garnering nearly half of the global market. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 16.1% by the end of 2030. The other provinces studied in the report include Europe and LAMEA.
The key market players analyzed in the global hyperlocal services market report include Delivery Hero, Just-Eat, Takeaway.com, Ask For Task (U.S.), GrubHub, Grofers (Locodel Solutions Pvt. Ltd), Uber Technologies Inc., Instacart, Housekeep, and Handy. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
