ONLINE TAKEAWAY FOOD MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Rise of Internet and Smartphone Penetration

The phenomenal rise of internet connectivity and smartphone usage has transformed how people live, work, and access services. In the past decade alone, internet penetration and mobile data consumption have grown exponentially in both developed as well as developing countries. According to recent reports, over half of the world's population now has an internet connection. Affordable smartphones have found their way into the hands of billions. Mobile apps have made it incredibly simple to browse through restaurant menus, view photos of dishes, read reviews, and place food orders with just a few taps. The convenience of using one's phone from anywhere, anytime for online tasks big and small has made mobile internet an indispensable part of 21st century lives. Foodtech platforms have capitalized on the surge in digital adoption by transitioning their services to mobile-first models. Interactive maps, location tracking, payment integration, and live order status updates have enhanced the overall experience of ordering food online via smartphones. With digital technologies deeply ingrained in everyday activities, online food ordering platforms are certain to benefit from the continued rise of internet and mobile penetration globally.