Pune, June 01, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, a global Consumer Goods & Services market research firm, has published a competitive intelligence and market research report on the “Hyperlocal Home Utility Services Market“. The Hyperlocal Home Utility Services market size was valued at USD 1.5 Tr in 2022. The total Hyperlocal Home Utility Services Market revenue is expected to grow at a CAGR of 13.4 percent from 2022 to 2029, reaching USD 2.73 Tr during the forecast period.
| Market Size in 2022 | USD 1.5 Tr |
| Market Size in 2029 | USD 2.73 Tr |
| CAGR | 13.4 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 280 |
| No. of Tables | 120 |
| No. of Charts and Figures | 110 |
| Segment Covered | By Type and Nature |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Hyperlocal Home Utility Services Market Scope and Research Methodology
The report includes a detailed analysis of the Hyperlocal Home Utility Services Market covering all the major aspects such as segments, country-wise, and region-wise. For a better understanding of Hyperlocal Home Utility Services Industry penetration, competitive structure, pricing analysis, and demand, an analysis of the market is undertaken at the local, regional, and global levels.
Major companies are mentioned by region, along with their revenue, portfolio, developments, mergers & acquisitions, and strategic alliances, for competitive analysis of the Hyperlocal Home Utility Services Market. Growth potential and business forecast for new market entrants are provided in the Hyperlocal Home Utility Services Market report.
Hyperlocal Home Utility Services Market is segmented based on type and nature to understand the variables and impact on the market growth. A bottom-up approach was used to estimate the Hyperlocal Home Utility Services market size. The primary and secondary methods were used to collect data from the Hyperlocal Home Utility Services market. SWOT analysis was conducted to provide the strengths and weaknesses of the Hyperlocal Home Utility Services market.
Hyperlocal Home Utility Services Market Overview
Hyperlocal Home Utility Services is an on-demand service designed to fulfill the needs of the local area or community. These services are provided through online platforms, and mobile applications in order to connect customers through nearby service providers. Hyperlocal terms are related to the limited geographic area in a city bloc and even in a single building block. The aim of this service is to provide immediate and quick services to the consumers within a given time limit, i.e. in a short response time. Hyperlocal Home Utility Services are mostly provided in the developing region to gain substantial traction.
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Increase the use of smartphones with seamless connectivity of the internet to boost the Hyperlocal Home Utility Services market growth
Use of smartphones is increasing day by day with high and seamless internet connectivity. New businesses are shifting gradually from sales based transactional models due to the popularity of the E-commerce sector. Consumers are having personalized experience on the quality of products with a variety of options available on online platforms. 73 percent of consumers are spending on convenience due to high living standards, which is expected to boost the Hyperlocal Home Utility Services market growth over the forecast period. Consumers are influenced by the on-demand service provider. Hyperlocal Home Utility Services is having strong backend technology support for the multiple operational capabilities.
High Hyperlocal Home Utility Services is expected to restrain the market growth. Trust factor during online shopping with limited digital literacy and digital infrastructure is expected to limit the Hyperlocal Home Utility Services market growth over the forecast period.
North America region to boost the Hyperlocal Home Utility Services market growth
In the North American region, the US and Canada are experiencing vast growth in the Hyperlocal Home Utility Services market due to the high lifestyle of consumers. Presence of a well-established e-commerce sector such as Uber Eats is significantly contributing to the growth of the market. All these factors have created a conducive environment for the service provider to connect consumers with local businesses and other service providers in the region. The region is also having high internet penetration rates with accessibility to online platforms and mobile applications, which helps to boost the Hyperlocal Home Utility Services market growth in the region. Metropolitan cities such as New York, San Francisco, and Toronto are having high living standards with adoption of Hyperlocal Home Utility Services in the region.
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Hyperlocal Home Utility Services Market Segmentation
By Type
- Food Ordering
- Grocery Ordering
- Home Utility Service
- Logistic Service Providers
- Others
Based on Type, the market is segmented into Food Ordering, Grocery Ordering, Home Utility Service, Logistic Service Providers, and Others. The food ordering and Grocery segment dominated the market in 2022 and is expected to continue the dominance over the forecast period. The segment will hold 34.3 percent in 2022. Daily needs of consumers, due to their time-saving benefits, is expected to boost the segment growth in the Hyperlocal Home Utility Services Market.
By Nature
- Goods Delivery
- Utility Services
Based on Nature, the market is segmented based on Goods Delivery, and Utility Services. The goods Delivery segment holds the largest Hyperlocal Home Utility Services Market share in 2022 accounting for 65 percent and is expected to dominate the market over the forecast period. Goods Delivery includes food, groceries, and other items. Fast delivery of goods and consumer satisfaction is expected to boost the segment growth over the forecast period.
Hyperlocal Home Utility Services Market Key Players include
- UrbanClap (now known as Urban Company)
- Housejoy
- Handy
- TaskRabbit
- Helpr
- Zimmber (renamed as Rejuvenate Solutions)
- QuikrServices
- Bro4u
- Mr. Right
- SBricks
- Timesaverz
- BookMyBai
- LocalOye
- Qyk
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Key questions answered in the Hyperlocal Home Utility Services Market are:
- What are Hyperlocal Home Utility Services?
- What was the Hyperlocal Home Utility Services market size in 2021?
- What is the expected Hyperlocal Home Utility Services market size by 2029?
- What is the growth rate of the Hyperlocal Home Utility Services Market?
- Which are the factors expected to drive the Hyperlocal Home Utility Services market growth?
- Which segment dominated the Hyperlocal Home Utility Services market growth?
- What is the demand pattern for the Hyperlocal Home Utility Services market?
- Which region held the largest share in the Hyperlocal Home Utility Services market?
- Who are the key players in the Hyperlocal Home Utility Services market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by type, and nature
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Consumer Goods & Services research firm, has also published the following reports:
Online On-Demand Home Services Market: The total market size is expected to reach USD 8617.6 Bn over the forecast period at a CAGR of 40.5 percent. Growing number of platforms from which a user can stream audio and video information is expected to boost the market growth.
Online Food Delivery Market: The total market size was valued at USD 119.43 Bn in 2021 and the total revenue is expected to grow at 11.2 percent through 2022 to 2029, reaching USD 279.22 Bn. Increasing resorting to internet ordering and other low-cost purchase choices is expected to boost the market growth.
Food E-Commerce Market: The total market was valued at USD 197.2 Mn in 2021 and it is expected to reach USD 865.03 Mn by 2029, at a CAGR of 20.3 percent over the forecast period. The growth of online purchasing with various options is expected to boost the market growth.
Food Delivery Services Market: The total market size was valued at USD 125.47 Bn in 2021 and the total Food Delivery Services revenue is expected to grow at 10.1 percent through 2022 to 2029, reaching USD 270.92 Bn. Increasing number of high-income families, with changing lifestyles is expected to boost the market growth.
Online Home Rental Market: The total market size was valued at USD 15.9 Bn in 2021 and the total revenue is expected to grow at 13.8 percent through 2021 to 2029, reaching USD 44.72 Bn. Increase in demand for rented properties in metropolitan cities is expected to boost the market growth.
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