According to Future Market Insights (FMI), the hyperlocal delivery apps market is expected to witness growth at a CAGR of around 22.6% over the forecast period (2022-2032). The report states that the market is expected to reach the valuation of ~US$ 1,155.2 Mn by end of 2022.
As per Future Market Insights, surge in demand for digitalization and fast penetration of smartphones with internet connectivity to drive the growth of hyperlocal delivery apps market in the coming years.
Rising advancements in SaaS in the delivery operations for performance improvements, end-to- visibility with cost effectiveness is expected to drive the hyperlocal delivery apps market and present attractive growth possibilities for hyperlocal delivery apps software and platform vendors.
Moreover, advancements in logistics infrastructure, improved lifestyle with changing customer preferences for short delivery timelines is expected to drive the market growth. The increasing requirements for fresh produce, standardized products with on-demand services is surging the hyperlocal delivery apps market.
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Key Takeaways: Hyperlocal Delivery Apps Market
- By type, the mobile-based hyperlocal delivery applications segment is anticipated to grow at a robust CAGR of 6% through 2032.
- By industry, the retail & CPG segment is anticipated to increase at a CAGR of 3% between 2022 & 2032.
- North America is dominating hyperlocal delivery apps market followed by Europe region in 2022.
- South Asia & Pacific is estimated to be the fastest growing region in the global hyperlocal delivery apps market during the forecast period.
- The U.S. hyperlocal delivery apps market is expected to progress at a CAGR of around 7% through 2032.
- In India, hyperlocal delivery apps market is expected to grow by 2X during the forecast period.
- Hyperlocal delivery apps market in China is estimated to witness the absolute opportunity of US$ 903.1 Mn in the forecast period.
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Rising Demand for Faster Delivery Fulfilments to Drive Hyperlocal Delivery Apps Market
Growing expectations of quick and instant deliveries have been a tipping point in e-commerce industry. Increasing online purchases with quick delivery timelines is fuelling the growth of hyperlocal delivery applications.
Furthermore, surging investments in logistics and supply chain management for adapting to changing demand and supply dynamics, e-commerce fulfilment and volatile economy is increasing demand the market demand.
Moreover, efficient management of the increasing broad scope of supply chain management which includes demand forecasting, production scheduling warehouse & center distribution management fuels the investments in supply chain industry driving the market growth of hyperlocal delivery apps.
More Valuable Insights on Hyperlocal Delivery Apps Market
Future Market Insight’s report on the hyperlocal delivery apps industry research is segmented into three major sections – type (mobile-based hyperlocal delivery apps, web-based hyperlocal delivery apps), industry (retail & CPG, medical & healthcare, food & beverages, courier express & parcel and others) and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the hyperlocal delivery apps demand outlook.
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About Electronics, Semiconductor and ICT Division at Future Market Insights
Expert analysis, strategic recommendations and actionable insights- the electronics, semiconductors, and ICT team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, & ICT, of which 100+ reports are specifically on solutions, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductors, and ICT industry.
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