Hyperlocal Services Market
Hyperlocal Services Market Scrutinized in New Research Along With World's Top Player Analysis
Hyperlocal Services Market Scrutinized in New Research Along With World's Top Player Analysis
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<strong>Hyperlocal</strong> <strong>Services</strong> <strong>Market</strong> to Record Overwhelming<br />
Hike in Revenues by 2026<br />
<strong>Hyperlocal</strong> services <strong>Market</strong> study provides key insights about market<br />
drivers, restraints, opportunities, new product launches or approval,<br />
regional outlook, and competitive strategies adopted by the leading<br />
players.<br />
<strong>Hyperlocal</strong> services refers to online business models that provide various products and facilities<br />
that rely on the platform of smartphones with GPS technology. The offerings include food<br />
delivery from restaurants, grocery from superstores or hypermarkets, logistic services, and<br />
home utility services such as electrical repairing, plumbing, carpentry, laundry, and personal<br />
tutors.<br />
Download PDF To explore detail study @<br />
https://www.coherentmarketinsights.com/insight/request-pdf/625<br />
Increased adoption of smartphones featuring internet connectivity is the prominent factor<br />
driving the industry growth<br />
According to GSM Association Intelligence report in October 2016, around 44% of the total<br />
smartphone users, had subscribed to internet connectivity which is projected to account for<br />
around 60% by 2020. Moreover, hyperlocal services market participants are increasingly<br />
enhancing search options and application support for better consumer experience. Proliferation<br />
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<br />
for transactions. These factors are expected to provide strong industry growth prospects<br />
through the forecast period.<br />
Large discounts on first purchase and competitive product offering costs are expected to<br />
present potential growth landscape<br />
The hyper local services market is characterized by the presence of large number of local players<br />
venturing for better business growth prospects. Moreover, some competitors have entered into<br />
significant private ventures offering capital investments to the start-ups for enhancing their<br />
presence through marketing and promotional activities for acquiring large consumer base. This<br />
has led to increased competition among the global and local players in the industry, in turn<br />
leading to frequent major discounts and competitive pricing strategies for consumer retention.<br />
Large savings on purchases and increased consumer convenience owing to easy accessibility to<br />
resources is expected to present solid growth prospects for hyperlocal services market.<br />
Grocery and food delivery segment dominated the global hyperlocal services market share<br />
Grocery and food delivery segment participants perform the aggregation of local restaurants<br />
and superstores through smartphone applications and provide products on demand. This helps<br />
participants gain the trust of the local shops through online shopping. Moreover, owing to<br />
presence of large untapped potential consumer base and almost everyday requirements of<br />
foods and groceries will drive growth of these market segments.<br />
Expansion of product offerings to rural and remote locations is expected present consistent<br />
challenge over the forecast period<br />
Catering to customers with best product quality with access to marginal profits is major<br />
challenge hindering the market growth. Increasing consumer base and business activity may<br />
also lead decline of the product quality that can result in loss of consumer retention. Industry is<br />
characterized with large number of global and local choices available in the industry, causing<br />
increased consumer volatility. Moreover, customer catering potential of these hyperlocal<br />
service market is limited to urban regions only. These factors are expected to consistently<br />
challenge the business growth of the players.
Browse More About the <strong>Market</strong> Study @<br />
https://www.coherentmarketinsights.com/ongoing-insight/hyperlocal-services-market-625<br />
Developed economies such as the U.S. and countries in Western Europe have witnessed major<br />
adoption of hyperlocal services and are leading the market in terms of revenue and consumer<br />
base. However, with the increasing proliferation of mobile devices in emerging economies such<br />
as China, India, Indonesia, and Brazil is expected to offer significant growth opportunities for<br />
market players over the forecast period.<br />
Industry is characterized by the presence of large number of players acquiring small hyperlocal<br />
services market shares. This is expected to continue over the forecast period, however, few<br />
industry participants have gained competitive edge over other participants. These participants<br />
include GrubHub, Just-Eat, Swiggy, Delivery Hero, Foodpanda group, BOXC, Shipster, and<br />
HelloFresh Group.<br />
About Coherent <strong>Market</strong> Insights:<br />
Coherent <strong>Market</strong> Insights is a prominent market research and consulting firm offering actionready<br />
syndicated research reports, custom market analysis, consulting services, and competitive<br />
analysis through various recommendations related to emerging market trends, technologies,<br />
and potential absolute dollar opportunity.<br />
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Coherent <strong>Market</strong> Insights<br />
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#3200<br />
Seattle, WA 98154<br />
Tel: +1-206-701-6702<br />
Email: sales@coherentmarketinsights.com
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