Hyperlocal Services Market to Record Overwhelming
Hike in Revenues by 2026
Hyperlocal services Market study provides key insights about market
drivers, restraints, opportunities, new product launches or approval,
regional outlook, and competitive strategies adopted by the leading
players.
Hyperlocal services refers to online business models that provide various products and facilities
that rely on the platform of smartphones with GPS technology. The offerings include food
delivery from restaurants, grocery from superstores or hypermarkets, logistic services, and
home utility services such as electrical repairing, plumbing, carpentry, laundry, and personal
tutors.
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Increased adoption of smartphones featuring internet connectivity is the prominent factor
driving the industry growth
According to GSM Association Intelligence report in October 2016, around 44% of the total
smartphone users, had subscribed to internet connectivity which is projected to account for
around 60% by 2020. Moreover, hyperlocal services market participants are increasingly
enhancing search options and application support for better consumer experience. Proliferation
of improved and secured mobile payment gateways such as, Android Pay, Apple Pay, PayPal,