Online Hyperlocal Services Market
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.
Market Dynamics
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
Market Segmentation
Table of Contents
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports
Customize Now
Credibility and Certifications
860519526
9001:2015
27001:2022
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients
