The hyperlocal delivery app market has grown exponentially, with its size increasing from $1.66 billion in 2023 to $2.09 billion in 2024, achieving a CAGR of 25.7%. This growth is driven by rapid urbanization, increased smartphone usage, and the expanding e-commerce ecosystem. The market is anticipated to reach $5.27 billion by 2028, at a CAGR of 26.0%. Major trends include the adoption of digital logistics tools and the growing popularity of localized marketing.
Major Driver In The Hyperlocal Delivery App Market
The expanding e-commerce ecosystem is anticipated to drive growth in the hyperlocal delivery app market. This ecosystem, which encompasses interconnected entities and technologies that enable online commerce, is being fueled by increased internet access, smartphone usage, logistics advancements, and a shift in consumer behavior toward online shopping. Hyperlocal delivery apps enhance e-commerce by providing efficient last-mile delivery services. The U.S. Census Bureau reported that retail e-commerce sales for Q1 2024 reached $289.2 billion, reflecting a 2.1% increase from Q4 2023. Therefore, the growing e-commerce ecosystem is advancing the hyperlocal delivery app market.
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Hyperlocal Delivery App Market Competitive Landscape
Uber Technologies Inc., Delivery Hero SE, DoorDash Inc, Just Eat Takeaway.com, Glovo, Instacart, Deliveroo, Swiggy, Zomato Ltd., Grubhub, Zepto, Jungleworks, Postmates Inc., GoBrands Inc, DUNZO, FarEye Technologies Inc., Skedulo Holdings Inc., Bringg, Favor Delivery, Shipstation, LogiNext Solutions, Blink Commerce Private Limited, Clickpost, Rappi Inc., Stamps.com Inc.
Key Hyperlocal Delivery App Market Trend
The hyperlocal delivery app market is evolving with route optimization algorithms that enhance delivery efficiency and reduce operational costs. LocoNav launched an innovative route optimization feature in April 2022, enabling fleet managers to determine the most efficient delivery routes by analyzing real-time traffic and weather conditions. This technology not only cuts fuel costs but also boosts customer satisfaction by ensuring quicker deliveries.
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Hyperlocal Delivery App Market Segmentation
The hyperlocal delivery app market covered in this report is segmented –
1) By Type: Web-Based Hyperlocal Delivery Apps, Mobile-Based Hyperlocal Delivery Apps, Other Types
2) By Industry: Retail And Consumer Packaged Goods (CPG), Medical And Healthcare, Food And Beverages, Courier Express And Parcel, Other Industries
3) By Application: Banking, Financial Services and Insurance (BFSI), Government, Information Technology (IT) And Telecommunication (Telecom), Healthcare, Energy And Utilities, Manufacturing, Other Applications
By Geography:The regions covered in the hyperlocal delivery app market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the hyperlocal delivery app market in 2023.
The Hyperlocal Delivery App Global Market Report 2024 furnishes information about the global hyperlocal delivery app market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
