The online hyperlocal services market is projected to witness exponential growth exhibiting a CAGR of 32.6% over the forecast period, Online hyperlocal services refer to the online businesses that utilize online applications on smartphone or websites and GPS technology to cater to the service requirements of well-defined regional population or community. These businesses include an extensive range of services and product delivery as part of its offerings, which includes food, groceries, concierge, logistics, automobile, home services, beauty services, networking, and laundry services. End consumers range from individual to commercial and enterprise consumers that require on-demand services or immediate solutions to their needs.
According to Internet World Stats (IWS) update in June 2017, internet penetration rate was pegged at 51.7% by percentage of global population, which witnessed an increase of 976.4% in the period of 2000 to 2017. According to Zenith’s Mobile Advertising Forecasts in 2017, global smartphone penetration reached 63% in 2017 is expected to reach 66% in 2018 in the 52 key economies across the globe. High proliferation of mobile and internet enabled smart devices, growing internet penetration, and shifting inclination of consumers from physical stores and services to on-demand services is expected to be the major factor leveraging the global online hyperlocal services market growth. However, intense competition among the players, primarily owing to large number of new entrants and highly fragmented industry space has in turn led to significantly low profit margins. For instance, cab aggregator industry space in India is affiliated by the presence of players that include Ola, Uber, Meru, EasyCab, Tab Cab, mGaadi, Scoot, GO4Cabs, Jugnoo, and mGaadi. These factors are expected to hinder the market growth over the forecast period.
Key features of the study:
This report provides in-depth analysis of online hyperlocal services, market size (US$ Million), and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017– 2025), considering 2016 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
It profiles leading players in the global online hyperlocal services market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, online hyperlocal services market capital, key developments, strategies, and future plans
Companies covered as a part of this study include Delivery Hero AG, Instacart, Uber Technologies, Rocket Internet SE, Ibibogroup (redBus, goibibo, and ryde), Airtasker, ANI Technologies, AskForTask, Laurel & Wolf, PriceGrabber.com, Swiggy, and Taskbob
Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, product up-gradation, market expansion, and marketing tactics
The global online hyperlocal services market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the global online hyperlocal services market