Hyperlocal Services MarketSize and Trends

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, etc. has led to significant increase in consumer confidence for the application of mobile platform for transactions. These factors are expected to provide strong industry growth prospects through the forecast period.