NEW YORK, Feb. 11, 2022 /PRNewswire/ — The online hyperlocal services market is set to grow by USD 451.64 million between 2019 and 2024, accelerating at a CAGR of over 18% during the forecast period. The report presents a detailed study by the way of synthesis and summation of data from multiple sources. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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Online Hyperlocal Services Market 2020-2024: Vendor Landscape
The online hyperlocal services market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Vendors in the market are focusing on adopting various organic and inorganic growth strategies to remain competitive in the market. Below are some of the dominant players mentioned in the report.
Bundl Technologies Pvt. Ltd.: The company offers online food ordering services.
Delivery Hero SE: The company offers online food ordering services. The company has access to thousands of restaurants, thus enabling to quickly search and order the best food in the area. Customers can pay online and even save their favorite menus.
Handy Technologies Inc.: The company operates its hyperlocal business services through Handyman, which includes services for air conditioner, TV mounting, interior painting, etc. Also, the company offers plumbing, electrical, and cleaning services.
The increasing demand for premium services will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Online Hyperlocal Services Market 2020-2024: Segmentation Analysis
- Individual Users
- Commercial Users
- Online Logistics Services
- Online Food Ordering Services
- Online Grocery Delivery Services
- North America
- South America
By end-user, the market witnessed significant demand for online hyperlocal services from the individual users’ segment in 2021. Similarly, by service, the online logistics services segment generated maximum revenue in the market in 2021. The market growth in these segments will be significant during the forecast period.
In terms of geography, APAC is expected to offer several growth opportunities for market players. The region currently holds 56% of the global market share. The increasing trend of digital marketing and rising consumer engagement on social media platforms are driving the growth of the online hyperlocal services market in APAC. China, India, and Japan are the key markets for online hyperlocal services in APAC. The market growth in the region will be faster than the growth of the market in other regions.
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Online Hyperlocal Services Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist online hyperlocal services market growth during the next five years
- Estimation of the online hyperlocal services market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the online hyperlocal services market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of online hyperlocal services market vendors
Online Hyperlocal Services Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 18%
Market growth 2020-2024
USD 451.64 million
YoY growth (%)
APAC, North America, Europe, South America, and MEA
Performing market contribution
APAC at 56%
Key consumer countries
China, US, India, UK, and Japan
Leading companies, competitive strategies, consumer engagement scope
Airtasker Pty Ltd., Bundl Technologies Pvt. Ltd., Delivery Hero SE, Handy Technologies Inc., Laurel & Wolf, MakeMyTrip Ltd., Maplebear Inc., Nextag.co.uk, Uber Technologies Inc., Urban Co., and Zomato Media Pvt. Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.
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Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Individual users – Market size and forecast 2019-2024
- Commercial users – Market size and forecast 2019-2024
- Market opportunity by End-user
Market Segmentation by Service
- Market segments
- Comparison by Service
- Online logistics services – Market size and forecast 2019-2024
- Online food ordering services – Market size and forecast 2019-2024
- Online grocery delivery services – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by Service
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers – Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Bundl Technologies Pvt. Ltd.
- Delivery Hero SE
- Handy Technologies Inc.
- Laurel & Wolf
- MakeMyTrip Ltd.
- Maplebear Inc.
- Uber Technologies Inc.
- Urban Co.
- Zomato Media Pvt. Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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