DUBAI, United Arab Emirates, Aug. 02, 2022 (GLOBE NEWSWIRE) -- The global hyperlocal delivery app market is predicted to reach a valuation of around US$ 8,856.6 Mn in 2032, with sales growing at a stellar CAGR of 22.6% for the assessment period of 2022 to 2032. Hyperlocal delivery app market is likely to reach an estimated value of US$ 1,155.2 Mn by the end of 2022. The market currently accounts for around 25% of the market share of the e-commerce platform. Elevated demand for speedy delivery applications with enhanced efficiency and minimal investment requirement is promoting the adoption of hyperlocal delivery apps in the delivery process.
Integration of advanced technological tools like artificial intelligence provides benefits like on-time delivery, optimized efficiency, and cost reduction resulting in fast turnaround times. This boosts the adoption rates of hyperlocal delivery apps. The incorporation of blockchain, too, ensures an accurate and hassle-free delivery process as it removes the hassles arising from hyperlocal logistics.
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Digitalization is transforming various industry verticals all over the world. It enables organizations to connect, communicate, and engage better with consumers as well as other businesses. The rapid adoption of digitalization by different e-commerce verticals to improve their supply chain interaction is expected to augment the demand for hyperlocal delivery apps in the global market. Moreover, the adoption of digitalization will attract tech-savvy, convenience-seeking Gen-Z consumers. This will bode well for the hyperlocal delivery apps market.
“Hyperlocal delivery models aid in expanding the consumer base, support local businesses, removes the need for online stores, and offers delivery management from a single dashboard. These benefits, rising from the adoption of hyperlocal online delivery apps are likely to supplement the sales of hyperlocal delivery apps in the global market for the forecast period,” says an FMI analyst.
Key Takeaways:
- Elimination of hindrances like warehousing, long-distance transportation, and logistic fragments to boost market possibilities.
- Incorporation of AI and Blockchain to optimize app efficiency.
- South Asia and Pacific to become the fastest growing hyperlocal delivery app market.
- China is expected to present lucrative market opportunities over the forecast period.
- Technological improvements to promote market growth in the U.S.
- Dawn of q-commerce deliveries to drive sales in hyperlocal delivery apps market
- Mobile-based hyperlocal delivery apps to account for US$ 5,943.1 Mn opportunity by 2032.
- Food service sector to bolster the hyperlocal delivery apps market over the assessment period with a 21.6% CAGR.
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Competitive Landscape
Clickpost, Jungleworks, Fareye, Bringg, Shippo, Loginext, Shipstation, Anchanto, Stamps, Skedulo, and others are some of the major players in the hyperlocal delivery app market that are profiled in the full version of the report.
Major hyperlocal delivery app market players are concentrating on integrating new and improved capabilities in their product portfolio with the help of collaborations and partnerships with other market players. Vendors of the hyperlocal delivery apps market are also concentrating on the growth and development of current product offerings for retaining a strong position in the competitive landscape.
More Insights into the Hyperlocal Delivery Apps Market Report
In its latest report, FMI offers an unbiased analysis of the global hyperlocal delivery app market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022 to 2032. To understand the global market potential, growth, and capacity, the market is segmented based on type (web-based hyperlocal delivery app, mobile-based hyperlocal delivery app), industry (retail & CPG, medical & healthcare, food & beverages, courier express & parcel, others), and region.
According to the latest FMI reports, based on regional growth, North America is expected to present significant growth driven by the U.S. market. The heightened demand for hyperlocal delivery apps in the U.S. is predicted to account for nearly 82.6% of North America market share in 2022. Growing technological advancements are fueling the rising adoption rates of hyperlocal delivery apps in the regional market. Another factor promoting the demand is the immense presence of market players, quick adoption of technological innovations, and advancements in connected technologies. Consequently, the integration of logistics management platforms is leveraging AI and ML to enable fast deliveries with intelligent order allocation. All these factors promote regional market growth.
East Asia is expected to continue its lead in the global market by remaining one of the most lucrative markets during the forecast period. According to the study by FMI, the hyperlocal delivery apps market in China is predicted to grow by 9.6X during the forecast period. This is due to the growing e-commerce penetration with increasing demand for fast and affordable utility services. Furthermore, favorable government initiatives to wire rural areas, the presence of major e-commerce giants, and the need for prompt services will stimulate growth in the market.
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According to FMI, the hyperlocal delivery apps market in India is likely to grow by 14.2X during the assessment period. Over the past five years, India has been experiencing rapid economic growth which contributes to the massive urban transformation in the country. Additionally, increasing disposable incomes, technological advancements and a rise in aspirational values of customers are also contributing factors to the booming hyperlocal delivery apps market. Again, rising investments in supply chain logistics for changing consumer behavior, mobility restrictions, and supply-demand dynamics promote the growth of e-commerce and q-commerce deliveries which in turn fosters regional market growth for hyperlocal delivery apps.
According to the latest research by FMI, based on type, the mobile-based hyperlocal delivery apps segment is expected to register an absolute market opportunity of US$ 5,943.1 Mn by the end of 2032. Rising adoption of smartphones will drive the growth of the hyperlocal delivery apps market. Growing mobile-based applications have simplified order management, improved delivery communication, uncomplicated record keeping, fast deliveries, and accessibility. All of these are factors promoting the market growth of this segment.
On the basis of industry, the food & beverage segment is expected to grow with a prolific CAGR of 21.6% during the assessment period. The pandemic has led to the speedy adoption for quick access to day-to-day essentials such as food and beverages. The pandemic highlighted the importance of well-networked packed foods at the right temperatures with stringent hygiene and safety protocol. Furthermore, the need for lightning-fast deliveries through direct sourcing from vendors is driving the demand for hyperlocal food deliveries. The introduction of attractive, user-friendly food delivery applications with technology-enabled driver networks has pushed the food and beverage industry segment towards growth in the hyperlocal delivery apps market.
Hyperlocal Delivery Apps Market by Category
By Type:
- Web-based hyperlocal delivery apps
- Mobile-based hyperlocal delivery apps
By Industry:
- Retail & CPG
- Medical & Healthcare
- Food & Beverages
- Courier Express & Parcel
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Hyperlocal Delivery Apps Innovation / Development Trends
4. Pricing Analysis
4.1. Types of Pricing Models
4.2. Global Average Pricing Analysis Benchmark
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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