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Hyperlocal Services Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2031

Global Hyperlocal Services Market: By Type (Food Ordering, Grocery Ordering, Home Utility Service, Logistic Service Providers, and Others); Nature (Goods Delivery and Utility Services); and Region—Industry Dynamics, Market Size and Opportunity Forecast until 2031

  • Published On: 14-Feb-2023  |   Format: pdfpowerpointexcel  |  Report ID: AA0522232
    Delivery: 2 to 4 Hours
Hyperlocal Services Market

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Market Size Value in 2022US$ 1,449.6 Mn
Expected Revenue in 2031US$ 5,123.3 Mn
Historic Data2018-2021
Base Year2022
Forecast Period2023-2031
UnitValue (USD Mn)
Segments coveredBy Type, By Nature, By Region
Key Companies                                                                    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., Other Prominent Players
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Hyperlocal services ensure product delivery at a great speed that too from the customer’s very local trusted store.

The service ambit of a hyperlocal business could fall anywhere starting from a few meters to a few kilometers from the location of the business.

The Global Hyperlocal Service Market was valued at US$ 1,449.6 Mn in 2022.

The Global Hyperlocal Service Market is forecasted to expand at a CAGR of 15.9% over the projection period.

The market is majorly driven by factors such as increasing smartphone penetration & digitalization across countries and rising adoption of urban culture & increasing working population.

Rising competition and the problem of determining appropriate geographical location is hindering market growth. 

Increasing small & medium business is providing an emerging opportunity for market expansion.

Home utility services hold the highest share in the Global Hyperlocal Service Market in 2022.

North America dominates the Global Hyperlocal Service Market in 2022.

The Asia Pacific region holds the highest CAGR over the forecast period.

The key players in the Global Hyperlocal Services Market are Berkem, International Flavors & Fragrances, Inc., Kuber Impex Ltd., and Naturex, among others.