PUBLISHER: The Business Research Company | PRODUCT CODE: 1650451
PUBLISHER: The Business Research Company | PRODUCT CODE: 1650451
Hyperlocal services involve the delivery of goods and services utilizing various modes of transportation, including bikes, cars, and cabs. These services aim to deliver products and services to customers from nearby offline stores within a limited timeframe. Hyperlocal services facilitate changes in specified locations, product filtering, and order tracking.
The primary types of hyperlocal services include food orders, grocery orders, household utilities, logistics service providers, and other categories. Food orders entail requests for the preparation, supply, or delivery of food or related products. The nature of hyperlocal services revolves around goods delivery and utility services, with a revenue model encompassing subscription, advertisement, sponsorship, and other revenue streams. Devices commonly used for accessing hyperlocal services include smartphones, smart TVs, projectors, monitors, laptops, desktops, tablets, and other devices utilized by both individual and commercial users.
The hyperlocal services market research report is one of a series of new reports from The Business Research Company that provides hyperlocal services market statistics, including hyperlocal services industry global market size, regional shares, competitors with a hyperlocal services market share, detailed hyperlocal services market segments, market trends and opportunities, and any further data you may need to thrive in the hyperlocal services industry. This hyperlocal services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hyperlocal services market size has grown rapidly in recent years. It will grow from $2896.35 billion in 2024 to $3367.9 billion in 2025 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to increased urbanization, growing demand for convenience and time-saving services, increased disposable income, rising trend of e-commerce, proliferation of smartphones and mobile apps, growing demand for on-demand services.
The hyperlocal services market size is expected to see rapid growth in the next few years. It will grow to $6004.97 billion in 2029 at a compound annual growth rate (CAGR) of 15.6%. The growth in the forecast period can be attributed to rise of the gig economy and freelance workforce, advances in geolocation and mapping technologies, rise of contactless and cashless transactions in hyperlocal services, rising trend of localization, increasing popularity of online shopping. Major trends in the forecast period include advancements in technology, adoption of blockchain technology for secure transactions, integration of artificial intelligence in service delivery platforms, integration of augmented reality (AR) for enhanced user experiences, increased focus on community engagement and local partnerships.
The rising funding for e-commerce businesses has significantly driven the hyperlocal services market in the historical period. This increase in funding is attributed to e-commerce platforms adopting hyperlocal services to enable faster delivery of goods and services, thereby reducing delivery times. For instance, in August 2024, data published by the United States Census Bureau, a US government agency, revealed that e-commerce sales reached $282.3 billion during this period, reflecting a 5.3% increase compared to the first quarter of 2023. Additionally, e-commerce sales accounted for 16% of total retail sales in the second quarter of 2024.
The future growth of the hyperlocal service market is anticipated to be fueled by the widespread adoption of smartphones. Smartphones, equipped with built-in computers and additional functionalities, enhance hyperlocal services by providing GPS data for precise location tracking, enabling real-time interactions and transactions, delivering personalized recommendations, and establishing an efficient channel for local businesses to connect with potential customers. For example, as of February 2023, mobile connections in the UK reached 71. 8 million, indicating a 3. 8% increase from the previous year. It is projected that by 2025, around 95% of the UK's population, or approximately 65 million individuals, will own smartphones. Thus, the surge in smartphone adoption is a driving force for the growth of the hyperlocal service market.
Major companies in the hyperlocal services market are concentrating on developing innovative solutions to enhance convenience and speed in service delivery, broaden their service offerings, and improve customer experience. Hyperlocal delivery services involve providing goods and services to customers from local businesses within a very short distance, typically just a few miles or even blocks away. For example, in October 2023, Zomato, an India-based food delivery company, launched its hyperlocal delivery service called Xtreme, which aims to leverage its extensive delivery fleet of over 300,000 executives for intracity deliveries. This service is designed to accommodate both small and large merchants, enabling them to ship small parcels, such as documents, groceries, and cosmetics, weighing up to 10 kg.
Major companies in the hyperlocal service market are strategically focusing on introducing quick delivery services to gain a competitive advantage. Quick delivery services in hyperlocal services involve the rapid delivery of products or services within a limited radius, often within hours or even minutes. In September 2022, United Parcel Service (UPS), a US-based shipping company, launched a hyperlocal delivery service named Hyperlocal. This service offers swift next-day delivery to specific customers within metropolitan areas, focusing on markets where UPS has a distribution center or similar facilities within a 100-mile radius of the delivery destination. It caters to both consumers and businesses, allowing them to order various products, including groceries, food, pharmaceuticals, and everyday household items.
In March 2022, Zomato, an India-based food delivery company, acquired a 16. 66% stake in Mukunda Foods Private Limited for $5 million. This strategic acquisition is expected to enhance Zomato's quick commerce business and strengthen its position in the Indian commerce market. Mukunda Foods Private Limited specializes in kitchen automation and robotics, providing services to scale up kitchen operations in the food industry.
Major companies operating in the hyperlocal services market include Delivery Hero SE, AskforTask Inc., Blink Commerce Private Limited, Grubhub Inc., Handy Technologies Inc., Housekeep Limited, Maplebear Inc., Just Eat Limited, Uber Technologies Inc., Airtasker Pty Ltd., Bundl Technologies Private Limited, Foodpanda GmbH, Porch Group Inc., ANI Technologies Private Limited, UrbanClap Technologies India Pvt. Ltd., Mechlae Tech Mobility Solutions Private Limited, Wishbee World Private Limited, Cloudify Technologies Private Limited, Wefast India Private Limited, DC Foodiebay Online Services Private Limited, Grab Holdings Ltd., PT Aplikasi Karya Anak Bangsa, DoorDash Inc., Target Corporation, Rappi Inc., Favor Delivery LLC
North America was the largest region in the hyperlocal services market share in 2024. The regions covered in the hyperlocal services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the hyperlocal services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The hyperlocal services market includes revenues earned by entities by providing services such as order-focused delivery service, full-service on-demand delivery. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Hyperlocal Services Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hyperlocal services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hyperlocal services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hyperlocal services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.