Global Hyperlocal Services Market to Reach US$ 7.0 Billion by 2032, Stimulated by Increasing Adoption of Smartphones

December 28, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “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. Hyperlocal services comprise a wide range of offerings, such as food delivery, grocery shopping, home repairs, and transportation. They leverage technology and mobile applications to connect users with local service providers, providing convenience and efficiency in everyday life. They offer quick and on-demand solutions, making them an integral part of the fast-paced urban lifestyle. They allow users to customize their orders or services, catering to the diverse preferences of individuals. As they assist in improving operational efficiency, the demand for hyperlocal services is rising worldwide.

Global Hyperlocal Services Market Trends:

Presently, the increasing focus on eco-friendly delivery methods and sustainable practices to reduce the carbon footprint represents one of the primary factors strengthening the growth of the market. Additionally, the rising adoption of smartphones and mobile apps among the masses across the globe is contributing to the market growth. Apart from this, the growing demand for hyperlocal services among people with busy lifestyles to manage everyday tasks efficiently is positively influencing the market. In addition, the increasing usage of hyperlocal services on account of the improved internet connectivity worldwide is propelling the market growth. Besides this, the rising adoption of hyperlocal services, as they enable companies to sell their products and services effectively, is supporting the market growth. Furthermore, the growing demand for hyperlocal services, as they maintain transparency and provide enhanced satisfaction to people, is offering a positive market outlook. Looking forward, the market value is projected to reach US$ 7.0 Billion by 2032, expanding at a CAGR of 11.07% during 2024-2032.

Market Summary:

  • Based on the nature, good delivery exhibits a clear dominance in the market, followed by utility services.
  • On the basis of the type, the market has been classified into food ordering, grocery ordering, home utility service, logistic service providers, and others. At present, home utility service holds the largest market share.
  • Based on the application, the market has been bifurcated into individual users and commercial users.
  • Region-wise, the market has been segmented into North America (United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America enjoys the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being Airtasker Pty. Ltd, Blink Commerce Private Limited, Delivery Hero SE, HelloFresh SE, Instacart, Just Eat N.V., Olo Inc., Swiggy, Uber Technologies Inc., UrbanClap Technologies India Pvt. Ltd. and Zomato Limited.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Nature, Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Airtasker Pty. Ltd, Blink Commerce Private Limited, Delivery Hero SE, HelloFresh SE, Instacart, Just Eat N.V., Olo Inc., Swiggy, Uber Technologies Inc., UrbanClap Technologies India Pvt. Ltd. and Zomato Limited.
Customization Scope 10% Free Customization
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Global Hyperlocal Services Market to Reach US$ 7.0 Billion by 2032, Stimulated by Increasing Adoption of Smartphones
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