Global Hyperlocal Services Market is estimated to be US$ 5628.0 Billion by 2029 with a CAGR of 15.7%

Global Hyperlocal Services Market, By Service Type (Food Ordering, Grocery Ordering, Home Utility Services, and Logistics Service Providers), By End-user (Individual Users and Commercial Users)
NEW YORK - Dec. 14, 2021 - PRLog -- The increasing interest of industry giants such as Google Inc. and Amazon Inc. in the online hyperlocal and home services market is projected to further intensify the competition which in turn would drive the possibility of market consolidation over the forecast period.

Competitive Landscape:

The prominent player operating in the global hyperlocal services market includes Delivery Hero AG, Instacart, Housekeep, Rocket Internet SE, Uber Technologies Inc., Porch, Handy, Swapbox Inc., Airtasker, and AskForTask.

Key Highlights:
  • In March 2020, As the spread of COVID-19 continues to develop across the world, leading delivery platform Delivery Hero SE is reinforcing safety measures to protect the health of its customers, partners, and employees. Delivery Hero has launched no-contact delivery and cashless payments for orders across risk zone markets, minimizing the potential transmission of COVID-19.
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Key Market Insights from the report:

The global hyperlocal services market accounted for US$ 1512.1 billion in 2020 and is estimated to be US$ 5628.0 billion by 2029 and is anticipated to register a CAGR of 15.7%. The market report has been segmented on the basis of service type, end-user, and region.
  • By service type, grocery and food delivery segment contributors perform the aggregation of superstores and local restaurants via smartphone applications and provide products on demand. Additionally, due to the presence of largely untapped potential consumer base and almost everyday requirements of foods and groceries will boost the growth of these market segments.
  • By end-user, the target market is segmented into individual users and commercial users.
  • By region, the market in North America is projected to lead the global hyperlocal services market in terms of revenue in the coming years, due to increasing consumer preference towards adoption of e-businesses, improved Internet infrastructure, and rising adoption of internet-enabled devices across various countries in the region.

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