The global hyperlocal delivery app market is predicted to reach a valuation of around US$ 8,856.6 Million in 2032, with sales growing at a stellar CAGR of 22.6% for the assessment period of 2022 to 2032. Hyperlocal delivery app market is likely to reach an estimated value of US$ 1,155.2 Million by the end of 2022. The market currently accounts for around 25% of the market share of the e-commerce platform.
Elevated demand for speedy delivery applications with enhanced efficiency and minimal investment requirement is promoting the adoption of hyperlocal delivery apps in the delivery process.
Integration of advanced technological tools like artificial intelligence provides benefits like on-time delivery, optimized efficiency, and cost reduction resulting in fast turnaround times. This boosts the adoption rates of hyperlocal delivery apps. The incorporation of blockchain, too, ensures an accurate and hassle-free delivery process as it removes the hassles arising from hyperlocal logistics.
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Digitalization is transforming various industry verticals all over the world. It enables organizations to connect, communicate, and engage better with consumers as well as other businesses. The rapid adoption of digitalization by different e-commerce verticals to improve their supply chain interaction is expected to augment the demand for hyperlocal delivery apps in the global market.
Moreover, the adoption of digitalization will attract tech-savvy, convenience-seeking Gen-Z consumers. This will bode well for the hyperlocal delivery apps market.
“Hyperlocal delivery models aid in expanding the consumer base, support local businesses, removes the need for online stores, and offers delivery management from a single dashboard. These benefits, rising from the adoption of hyperlocal online delivery apps are likely to supplement the sales of hyperlocal delivery apps in the global market for the forecast period,” says an FMI analyst.
Key Takeaways:
- Elimination of hindrances like warehousing, long-distance transportation, and logistic fragments to boost market possibilities.
- Incorporation of AI and Blockchain to optimize app efficiency.
- South Asia and Pacific to become the fastest growing hyperlocal delivery app market.
- China is expected to present lucrative market opportunities over the forecast period.
- Technological improvements to promote market growth in the U.S.
- Dawn of q-commerce deliveries to drive sales in hyperlocal delivery apps market
- Mobile-based hyperlocal delivery apps to account for US$ 5,943.1 Mn opportunity by 2032.
- Food service sector to bolster the hyperlocal delivery apps market over the assessment period with a 21.6% CAGR.
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Competitive Landscape
Clickpost, Jungleworks, Fareye, Bringg, Shippo, Loginext, Shipstation, Anchanto, Stamps, Skedulo, and others are some of the major players in the hyperlocal delivery app market that are profiled in the full version of the report.
Major hyperlocal delivery app market players are concentrating on integrating new and improved capabilities in their product portfolio with the help of collaborations and partnerships with other market players. Vendors of the hyperlocal delivery apps market are also concentrating on the growth and development of current product offerings for retaining a strong position in the competitive landscape.
More Insights into the Hyperlocal Delivery Apps Market Report
In its latest report, FMI offers an unbiased analysis of the global hyperlocal delivery app market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022 to 2032. To understand the global market potential, growth, and capacity, the market is segmented based on type (web-based hyperlocal delivery app, mobile-based hyperlocal delivery app), industry (retail & CPG, medical & healthcare, food & beverages, courier express & parcel, others), and region.
According to the latest FMI reports, based on regional growth, North America is expected to present significant growth driven by the U.S. market. The heightened demand for hyperlocal delivery apps in the U.S. is predicted to account for nearly 82.6% of North America market share in 2022. Growing technological advancements are fueling the rising adoption rates of hyperlocal delivery apps in the regional market.
Another factor promoting the demand is the immense presence of market players, quick adoption of technological innovations, and advancements in connected technologies. Consequently, the integration of logistics management platforms is leveraging AI and ML to enable fast deliveries with intelligent order allocation. All these factors promote regional market growth.
East Asia is expected to continue its lead in the global market by remaining one of the most lucrative markets during the forecast period. According to the study by FMI, the hyperlocal delivery apps market in China is predicted to grow by 9.6X during the forecast period. This is due to the growing e-commerce penetration with increasing demand for fast and affordable utility services.
Furthermore, favorable government initiatives to wire rural areas, the presence of major e-commerce giants, and the need for prompt services will stimulate growth in the market.
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Hyperlocal Delivery Apps Market by Category
By Type:
- Web-based hyperlocal delivery apps
- Mobile-based hyperlocal delivery apps
By Industry:
- Retail & CPG
- Medical & Healthcare
- Food & Beverages
- Courier Express & Parcel
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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