The global hyperlocal services market held a market value of USD 1,344.7 million in 2021 and is expected to grow at a CAGR of 15.8% from 2022 to 2030.
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In hyperlocal deliveries, a courier agent picks up a product from the seller and directly delivers it to the provided customer’s address. In developing countries, the hyperlocal services industry is growing at a significant rate. Developed countries possess established facilities and amenities for the better adoption of hyperlocal deliveries and utility services.
Th rising market strategies, growing urbanization, increase in work population drives the growth rate of the hyperlocal services. Th increase in lifestyle changes and work-oriented population has increased demand for food and grocery ordering services, thus, fueling the growth rate of the industry.
The concern revolving around extra fees, fleet management, rising cut-throat competition from digitalized sites, hinder the growth rate of the market for hyperlocal services. The sites provide top-notch visibility to the sellers, however, the additional fees cannot be born by all the companies, specifically the startups.
Based on region, the global hyperlocal services market has been segmented into North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. The North American industry for hyperlocal services is expected to cross the mark of USD 1,000 million by 2027. Moreover, the Asia Pacific market for hyperlocal services is likely to grow at the highest rate of 16.4% over the anticipated period.
The global hyperlocal services market is segmented based on type and nature. Based on nature, the utility services segment is projected to hold an opportunity of more than USD 1,800 million during 2021 to 2030.
The key players operating in the global hyperlocal services market include Askfortask Inc., Delivery Hero SE, Grofers India Private Limited, Grubhub Inc., Handy Technologies, Inc., Housekeep Limited, Instacart, Just Eat Takeaway.Com N.V., Uber Technologies, Inc. among others. The top four players in the market held near about 8% market share in 2021.
Recent Developments by Market Players in the Global Hyperlocal Services Market
- In July 2022, Delivery Hero SE will be the majority shareholder of Glovo and will hold approximately 94% of shares on a non-diluted basis in the leading multi-category delivery platform. With Glovo’s footprint, Delivery Hero will serve up to 2.2 billion people in 74 countries
- In April 2022, Delivery Hero SE announced the successful completion of the syndication of the USD 825 million term facility (Dollar Term Facility) and the EUR 300 million term facility (Euro Term Facility together with the Dollar Term Facility)
- In February 2022, Grubhub Inc. launched Grubhub Goods. They provide diners nationwide on-demand convenience delivery from over 3,000 Grubhub Goods locations. Such an expansion is a result of a successful pilot in New York, where more than a dozen Grubhub Goods stores were offered in conjunction with 7-Eleven in Manhattan
- Food Ordering
- Grocery Ordering
- Home Utility Service
- Logistic Service Providers
- Goods Delivery
- Utility Services
- The U.S.
- Western Europe
- The UK
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Australia & New Zealand
- South Korea
- Rest of Asia Pacific
Middle East & Africa (MEA)
- Saudi Arabia
- Rest of MEA
- Rest of South America
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