| Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 3.59 Trillion | USD 12.73 Trillion | 13.5% | 2024 |
FrequentlyAsked Questions
The hyperlocal business model focuses on selling goods and services to individuals within a specific, limited geographic area, such as a neighborhood or small community. Digital technology, mobile apps, and online platforms connect people with businesses in their area.
Several factors are driving the hyperlocal market, including the growing smartphone and internet penetration, innovation in technology, rising e-commerce, increasing demand for ready-to-eat meals, and others.
The hyperlocal business faces significant challenges due to the lack of standardization and quality control.
Based on the type, the food ordering segment is expected to dominate the hyperlocal market growth during the projected period.
The increasing services launch and rising penetration of smartphones pose a major impact factor for the hyperlocal industry's growth over the projected period.
According to the report, the global hyperlocal market size was worth around USD 3.59 trillion in 2024 and is predicted to grow to around USD 12.73 trillion by 2034.
The global hyperlocal market is expected to grow at a CAGR of 13.5% during the forecast period.
The global hyperlocal industry growth is expected to be driven by the North America region. It is currently the world’s highest revenue-generating market due to the consumer demand for innovative technology and increasing food chain services.
The global hyperlocal market is dominated by players like DoorDash Inc., UberEats, Grubhub, Instacart Inc., Postmates, Swiggy, Zomato, Dunzo, Glovo, GoPuff, Favor (H-E-B Grocery Company), Caviar (Square Inc.), Rappi, Shipt (Target Corporation), and Deliv (Rakuten Group), among others.
The market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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