Future of Hyperlocal Delivery Apps: Market Growth, Size Forecast, and Key Influencing Factors for 2024

Overview and Scope
The hyperlocal delivery app market consists of revenues earned by entities by providing grocery delivery, food delivery, pharmacy delivery, package delivery, laundry service, and courier service. The market value includes the value of related goods sold by the service provider or included within the service offering. The hyperlocal delivery app market also includes sales of smartphones and tablets, GPS devices, and barcode scanners. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Sizing and Forecast
The hyperlocal delivery app market size has grown exponentially in recent years. It will grow from $1.66 billion in 2023 to $2.09 billion in 2024 at a compound annual growth rate (CAGR) of 25.7%. The growth in the historic period can be attributed to rising demand for hyperlocal delivery apps, rapid urbanization across various regions, localized marketing and personalization, increasing number of smartphone users, and increasing number of people who are ordering food online.

The hyperlocal delivery app market size is expected to see exponential growth in the next few years. It will grow to $5.27 billion in 2028 at a compound annual growth rate (CAGR) of 26.0%. The growth in the forecast period can be attributed to Increasing investments, growing E-commerce ecosystem, ensure fast delivery, changing lifestyle and food habits, and busy lifestyles, increasing smartphone penetration. Major trends in the forecast period include adoption of digital logistics tools, growing popularity of Q-business, increasing smartphone penetration, introduction of product standardization, and digital transformation.

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Segmentation & Regional Insights
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

North America was the largest region in the hyperlocal delivery app market in 2023. The regions covered in the hyperlocal delivery app market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The growing E-commerce ecosystem is expected to propel the growth of the hyperlocal delivery app market going forward. The e-commerce ecosystem refers to the complex and dynamic network of interconnected entities, processes, and technologies that enable online commercial activities. The growing e-commerce ecosystem is attributed to increasing internet penetration, the proliferation of smartphones, advancements in logistics and supply chain management, a shift in consumer purchasing behavior towards online shopping, and the convenience of digital payment options. Hyperlocal delivery apps enhance the e-commerce ecosystem by providing fast and efficient last-mile delivery services, improving customer satisfaction, reducing delivery costs, and supporting local businesses by expanding their reach. For instance, in May 2024, according to the United States Census Bureau, a US-based government agency, the U.S. retail e-commerce sales for the first quarter of 2024 reached $289.2 billion, a 2.1% increase (±0.7%) from the fourth quarter of 2023. Therefore, the growing E-commerce ecosystem is driving the hyperlocal delivery app market.

Key Industry Players
Major companies operating in the hyperlocal delivery app market are 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.

The hyperlocal delivery app market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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