Hyperlocal services Market

Hyperlocal Services Market Global Industry Insights, Trends, Outlook, an
d Opportunity Analysis, 2017–2025
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REPORT DESCRIPTION
Hyperlocal services refers to online business models that provide various products and facilities that rely on the platform of
smartphones with GPS technology. The offerings include food delivery from restaurants, grocery from superstores or
hypermarkets, logistic services, and home utility services such as electrical repairing, plumbing, carpentry, laundry, and
personal tutors.
Increased adoption of smartphones featuring internet connectivity is the prominent factor driving the industry growth
According to GSM Association Intelligence report in October 2016, around 44% of the total smartphone users, had
subscribed to internet connectivity which is projected to account for around 60% by 2020. Moreover, hyperlocal services
market participants are increasingly enhancing search options and application support for better consumer experience.
Proliferation of improved and secured mobile payment gateways such as, Android Pay, Apple Pay, PayPal, etc. has led to
significant increase in consumer confidence for the application of mobile platform for transactions. These factors are
expected to provide strong industry growth prospects through the forecast period.
Hyperlocal services Market Taxonomy
On the basis of service offerings, the global hyperlocal services market is classified into:
●
●
●
Grocery and food delivery services
Home utility services
Logistics
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REPORT DESCRIPTION
Large discounts on first purchase and competitive product offering costs are expected to present potential growth
landscape
The hyper local services market is characterized by the presence of large number of local players venturing for better
business growth prospects. Moreover, some competitors have entered into significant private ventures offering capital
investments to the start-ups for enhancing their presence through marketing and promotional activities for acquiring large
consumer base. This has led to increased competition among the global and local players in the industry, in turn leading to
frequent major discounts and competitive pricing strategies for consumer retention. Large savings on purchases and
increased consumer convenience owing to easy accessibility to resources is expected to present solid growth prospects for
hyperlocal services market.
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Grocery and food delivery segment dominated the global hyperlocal services market share
Grocery and food delivery segment participants perform the aggregation of local restaurants and superstores through
smartphone applications and provide products on demand. This helps participants gain the trust of the local shops through
online shopping. Moreover, owing to presence of large untapped potential consumer base and almost everyday requirements
of foods and groceries will drive growth of these market segments.
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Expansion of product offerings to rural and remote locations is expected present consistent challenge over the
forecast period
Catering to customers with best product quality with access to marginal profits is major challenge hindering the market
growth. Increasing consumer base and business activity may also lead decline of the product quality that can result in loss of
consumer retention. Industry is characterized with large number of global and local choices available in the industry, causing
increased consumer volatility. Moreover, customer catering potential of these hyperlocal service market is limited to urban
regions only. These factors are expected to consistently challenge the business growth of the players.
Developed economies such as the U.S. and countries in Western Europe have witnessed major adoption of hyperlocal
services and are leading the market in terms of revenue and consumer base. However, with the increasing proliferation of
mobile devices in emerging economies such as China, India, Indonesia, and Brazil is expected to offer significant growth
opportunities for market players over the forecast period.
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Industry is characterized by the presence of large number of players acquiring small hyperlocal services market shares. This
is expected to continue over the forecast period, however, few industry participants have gained competitive edge over other
participants. These participants include GrubHub, Just-Eat, Swiggy, Delivery Hero, Foodpanda group, BOXC, Shipster, and
HelloFresh Group.
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Large savings on purchases and increased consumer convenience owing to easy accessibility to resources is expected to present solid growth prospects for hyperlocal services market.

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