India's hyperlocal market is expected to reach 2,306 crore by 2020
According to market research firm, Ken Research in its latest publication on “India Hyperlocal Market Outlook to 2020 - Driven by Rising Startups Firms and Fluctuating Investments”, the India Hyperlocal market will grow at a considerable CAGR rate thus exceeding INR 2,306 crore by 2020. Increasing urbanisation, personalisation of affinities along with ability of curating products that appeal to the aesthetic sensibilities or aspirational desires of the person will lead to the rise in the Hyperlocal market in India.
The report provides a comprehensive analysis of segments such as Logistics, Food, Groceries, Horizontal and Health Hyperlocal space in India. The report covers various aspects such as market size of India hyperlocal market, segmentation on the basis of regions, orders and revenue, by time of delivery, trends and developments, pre-requisites to enter the market and success and failure case studies of various Hyperlocal companies in the country. The report also provides future analysis of overall hyperlocal market of India and its segments. The report is useful for Hyperlocal vendors, investors and funding institutions, E-commerce companies and new players venturing in the market.
The Hyperlocal market in India has largely been driven by rising number of startups and “on-demand delivery preference” of the consumers. Collaboration with merchants and customers through a flexible application acts a business model for Hyperlocal firms in India. Hyperlocal firms in India are largely backed by technology and have been able to connect several local retailers with consumers in the Hyperlocal space. The market has witnessed significant competition in terms of emergence of various firms such as Grofers, Pepper Tap, 1 mg, Local Oye, Roadrunnr, Shadowfax and others in different hyperlocal business verticals. The Hyperlocal market in India has witnessed a significant growth in the year 2015 on account of rising number of startup firms in the country and enhanced investments fueled by higher usage of smartphone. The surge in growth has majorly been witnessed through growth in technology, urban population, better logistic services and large scale public investments. The India Hyperlocal market revenues have grown at growth rate of 41 percent as compared to 2014.
