According to a new report, published by KBV research, The Global Hyperlocal Service Market size is expected to reach $3,730 billion by 2028, rising at a market growth of 12.3% CAGR during the forecast period.
The Utility Services segment acquired maximum revenue share in the Global Hyperlocal Service Market by Nature in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,660.7 Billion by 2028. It is owing to the fact that utility services are highly important for consumers and people are investing time and money for the convenience offered by hyperlocal services in terms of proving utility services. In addition, people do not have to go anywhere for availing various services, instead they can get them at their home because of hyperlocal services model.
The Food Ordering segment is showcasing a CAGR of 12.6% during (2022 - 2028). Food ordering refers to a service that enable people to order food for delivery or takeout over the internet. Customers can either browse menus of different restaurants from their home pc, mobile device, or tablet app; place an order from those devices when they find one they like; or start giving detailed instructions with particular ingredient requests straight to the restaurant's kitchen staff, who then prepare their meal as per the person placing the order.
The North America market dominated the Global Hyperlocal Service Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,409.7 Billion by 2028. The Europe market is estimated to witness a CAGR of 11.8% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 12.9% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/hyperlocal-services-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Delivery Hero SE, Uber Technologies, Inc., Zomato Media Pvt. Ltd., AskforTask, Inc., Instacart, Just Eat Takeaway.com, Angi Inc., UrbanClap Technologies India Pvt. Ltd., Blinkit (Grofers International Pte Ltd.), and Housekeep Limited
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