In a recently published report, Online hyper-local services Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Online hyper-local services Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Online hyper-local services mainly provide services to customers through online portals, websites, and apps. Online hyper-local services help customer to accesses this service for online purchase, to order food, e-ticket purchasing, for hotel booking, and transportation service among others. Online hyper-local services Market is facing challenges due to the coronavirus pandemic as hotels and restaurants are temporary shutdown and concern for high quality of food by customers. Increasing demand for mobile and internet enabled smart devices, increasing internet penetration, and shifting consumer preference towards on-demand services instead of physical stores and services are the few factors responsible for growth of the market over the forecast period. For instance as per statista, the global smart phone penetration rate was 33.5% in 2016 and has rise by 44.9% in 2020. Moreover, ttechnological advancements and rising dependency on easily accessible apps will create a lucrative demand for the market. Thus, customers demand for quality, verity, availability, and discounts on various product offered by online platform is another driving factor for the market. However, lack of awareness of internet connection and respective apps in many rural areas is the major factor restraining the growth of global Online hyper-local services market during the forecast period.
The regional analysis of global Online hyper-local services market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the fast adoption of new advanced technology in daily life. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Zomato Media Pvt. Ltd (India)
Foodpanda group (Germany)
Uber Technologies Inc (U.S.)
HomeFinder.com, LLC (U.S.)
Tribus Group (Netherland)
Estately Inc. (U.S.)
Swiggy
Delivery Hero
AskForTask
Handy
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End-Use:
Individual Users
Commercial Users
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by Service:
Food Ordering
Grocery Ordering
Home Utility Service
Logistics Service Providers
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Online hyper-local services Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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