Hyperlocal Services Market Report by Nature (Goods Delivery, Utility Services), Type (Food Ordering, Grocery Ordering, Home Utility Service, Logistic Service Providers, and Others), Application (Individual Users, Commercial Users), and Region 2024-2032

Hyperlocal Services Market Report by Nature (Goods Delivery, Utility Services), Type (Food Ordering, Grocery Ordering, Home Utility Service, Logistic Service Providers, and Others), Application (Individual Users, Commercial Users), and Region 2024-2032

The global hyperlocal services market size reached US$ 2.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.0 Billion by 2032, exhibiting a growth rate (CAGR) of 11.07% during 2024-2032.

Hyperlocal services refer to facilities that are provided within a limited geographical area. It involves the operation of a courier agent picking up products from a seller and then delivering them directly to the customer's address. It is widely used for delivering food and beverages, drugs, personal items, and electronic gadgets, and home utility services, including plumbing, electrical repair, carpentry, laundry, and personal tutors. Hyperlocal services assist retailers, restaurants, and hotels in engaging and managing their businesses effectively. It also helps increase operational transparency and provide efficient and effortless deliveries in minimum time.

Hyperlocal Services Market Trends:

The rapid proliferation of smartphones, coupled with significant growth in the e-commerce industry, is one of the key factors driving the market growth. Hyperlocal services are widely accessed through e-commerce platforms or businesses for the fast delivery of goods and services. In addition, the increasing investment in e-commerce businesses is boosting the adoption of hyperlocal services, which, in turn, is acting as another growth-inducing factor. Furthermore, the widespread adoption of hyperlocal services due to hectic schedules and work-from-home (WFH) culture, changing consumer lifestyles, and rapid urbanization are favoring the market growth. Additionally, recent technological advancements in the logistics and automotive sectors through the adoption of automation, augmented reality (AR), artificial intelligence (AI), data collection, and visibility to reduce costs and provide a faster and seamless delivery experience are creating a positive outlook for the market. Moreover, the rapidly changing consumer preference towards online platforms that enhance the convenience and offer doorstep delivery, discounts, and combo deals is providing an impetus to market the growth. Other factors, including increasing investments in start-up businesses, rising adoption of farm-to-home concept for acquiring fresh produce, and standardization of animal by-products (ABPs), are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global hyperlocal services market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on nature, type and application.

Breakup by Nature:

• Goods Delivery
• Utility Services

Breakup by Type:

• Food Ordering
• Grocery Ordering
• Home Utility Service
• Logistic Service Providers
• Others

Breakup by Application:

• ndividual Users
• Commercial Users

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Airtasker Pty. Ltd, Blink Commerce Private Limited, Delivery Hero SE, HelloFresh SE, Instacart, Just Eat Takeaway.com N.V., Olo Inc., Swiggy, Uber Technologies Inc., UrbanClap Technologies India Pvt. Ltd. and Zomato Limited.

Key Questions Answered in This Report

1. How big is the global hyperlocal services market?

2. What is the expected growth rate of the global hyperlocal services market during 2024-2032?

3. What are the key factors driving the global hyperlocal services market?

4. What has been the impact of COVID-19 on the global hyperlocal services market?

5. What is the breakup of the global hyperlocal services market based on the nature?

6. What is the breakup of the global hyperlocal services market based on the type?

7. What are the key regions in the global hyperlocal services market?

8. Who are the key players/companies in the global hyperlocal services market?