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.

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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.
Increasing competition among key players to enhance their consumer base has led to significant investments in promotional campaigns and marketing strategies, and this is anticipated to fuel growth of the market
Significant discounts on signing in on a multiple platforms and continuous changes in product pricing to attract large consumer base are among the key strategies for the new market entrants in this industry space. This in turn has led to increased competition among the global and local industry participants, compelling the participants to introduce frequent discounts and competitive product pricing for better consumer retention. Affordable costs and efficient delivery of services are expected to be among the major factors that are expected to propel the global online hyperlocal services 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

Detailed Segmentation:

• Global Online Hyperlocal Services Market, By End Use:
◦ Individual Users
◦ Commercial Users
• Global Online Hyperlocal Services Market, By Service:
◦ Food Ordering
◦ Grocery Ordering
◦ Home Utility Service
◦ Logistics Service Providers
◦ Others

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Some of the players in the global online hyperlocal services market 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.

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