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The Latin America, Middle East and Africa Hyperlocal Service Market would witness market growth of 15.8% CAGR during the forecast period (2022-2028).
Nowadays, there are markets that enable goods delivery within 24 hours, which is commendable, but a hyperlocal marketplace may do the same thing in less than an hour (s). The buyer is attracted not only by the timeliness, but also by the fact that the products are delivered from their trusted and well-known stores.
Retailers benefit from hyperlocal delivery methods because they create a win-win situation. They can register their company on the appropriate platforms and have access to new opportunities. They don't have to spend money on developing and maintaining a separate app. The delivery will also be handled by the aggregators' delivery partners. As a result, it is simpler for offline retailers to expand their business with less effort. Customers are, without a doubt, the biggest winners in this strategy. They can weigh the pros and cons of several solutions and make an informed conclusion. A reliable distribution system is also required by the system. When someone can run all of these errands on their smartphone, life gets a lot easier.
With the introduction of new technologies, foreign brands, and the growing popularity of medium-scale eCommerce platforms in the Middle East, the regional logistics sector is rising. While traditional shipping solutions are a proven and true technique of bringing a product to a customer's doorstep, hyperlocal delivery services are the newest trend.
The growing usage of technology in the UAE, as well as the advent of many eCommerce platforms, has resulted in a surge in demand for speedier delivery services. More customers want their products delivered as rapidly as they can pick them up in a shop, and more products on the market appeal to customers in such a way that fast delivery becomes a commercial opportunity. In this situation, a hyperlocal delivery service company can assist eCommerce businesses in reaching consumers in high-demand areas and meeting that need.
The Brazil market dominated the LAMEA Hyperlocal Service Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $60.2 Billion by 2028. The Argentina market is poised to grow at a CAGR of 16.4% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 15.5% during (2022 - 2028).
Based on Nature, the market is segmented into Utility Services and Goods Delivery. Based on Type, the market is segmented into Home Utility Service, Food Ordering, Grocery Ordering, Logistic Service Providers, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Delivery Hero SE, Uber Technologies, Inc., Zomato Media Pvt. Ltd., AskforTask, Inc., Instacart, Just Eat Takeaway.com, Angi Inc., UrbanClap Technologies India Pvt. Ltd., Blinkit (Grofers International Pte Ltd.), and Housekeep Limited
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