Market Challenges And Opportunities

Expansion of product offerings to rural and remote locations is expected present consistent challenge over the forecast period

Catering to customers with best product quality with access to marginal profits is major challenge hindering the market growth. Increasing consumer base and business activity may also lead decline of the product quality that can result in loss of consumer retention. Industry is characterized with large number of global and local choices available in the industry, causing increased consumer volatility. Moreover, customer catering potential of these hyperlocal service market is limited to urban regions only. These factors are expected to consistently challenge the business growth of the players.

Developed economies such as the U.S. and countries in Western Europe have witnessed major adoption of hyperlocal services and are leading the market in terms of revenue and consumer base. However, with the increasing proliferation of mobile devices in emerging economies such as China, India, Indonesia, and Brazil is expected to offer significant growth opportunities for market players over the forecast period.