According to a new report published by UnivDatos Markets Insights, the Q-Commerce Market is expected to grow at a CAGR of around 47% from 2022-2028. The analysis has been segmented into Type (Groceries, Food, and Others); Service (Startup, Aggregator, and Retailer); Region/Country.
the q-commerce market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the q-commerce market. The q-commerce market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the q-commerce market at the global and regional levels.
The global q-commerce market is anticipated to witness an uptick with the democratization of the internet coupled with growing investment in AI and other advanced technology that monitor demand and adjust inventory in real-time. Quick commerce is closely related to last-mile deliveries which require a constant supply of stock and optimized picking routes so that products can be picked and packed in the shortest possible time. key market players such as Jokr, Getir, and Flink are cropping up at great speed across the globe and help in ensuring the accessibility of essential items and everyday goods at consumer’s doorstep in less than 1 hour of delivery time which is positively influencing the market of quick commerce. Moreover, factors such as soaring urbanization coupled with an upsurge in online purchases during lockdown have escalated the need for q-commerce across the globe. For instance, according to International Telecommunication Union (ITU), 4.9 billion people are using the internet in 2021, which is 63% of the world’s total population. This is an increase of almost 17% since 2019, with almost 800 million people estimated to have come online during that period.
Some of the major players operating in the market include GoPuff, Gorillas, Flink, Getir, Uber Eats, Deliveroo, Instacart, Tesco’s Whoosh, Zomato, and Delivery Hero.
The outbreak of COVID-19 has positively influenced the market size of q-commerce in 2020. Despite the lockdown restriction, the shutdown of manufacturing facilities and various industries. Essential services such as groceries, medicines, and food products can be purchased for limited hours in a day to maintain social distancing. Moreover, with the rising adoption of online shopping customer behavior and purchasing habits have changed for convenience, urbanization, and busy lifestyles have transformed shopping.
The global q-commerce market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on type, the market is classified into food, grocery, pharma, and others. The groceries segment is gaining extensive traction in the q-commerce market and is expected to witness influential growth in the forecasted period as well. During COVID-19, restrictions on movement imposed by the government across the globe restrained the adoption of essential groceries to the consumer. Consumers extensively adopted the services of q-commerce by discovering the smooth buying of groceries from the comfort of their homes which has extensively escalated the adoption of q-commerce in emerging markets.
· On the basis of service, the market is segmented into startups, aggregators, and retailers. Startups cater significant share in the market and are expected to witness considerable growth in the forecasted period as well. Factors such as the growth of recent q-commerce startups in emerging economies owing to their efficient digital payment infrastructure, supportive funding, and effective ecosystem to provide their services and delivery within less than 1 hours working model is accelerating the market outlook. Moreover, recent startups across the globe have upsurged the market growth of q-commerce due to their initial funding, coupled with their delivery models and structured ecosystem that has escalated the market outlook.
Q-Commerce Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
North America held a prominent share of the market and is further expected to grow at an influential growth rate. This is mainly due to the supportive government initiatives, acceleration in the grocery and food delivery market, and growing adoption of e-commerce. Moreover, a strong logistics and digital infrastructure is leading to an increase in the number of people purchasing goods online. For instance, almost 96% of Americans have made at least one online purchase in their life.
The major players targeting the market include
· Uber Eats
· Tesco’s Whoosh
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the q-commerce market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the q-commerce market?
• Which factors are influencing the q-commerce market over the forecast period?
• What are the global challenges, threats, and risks in the q-commerce market?
• Which factors are propelling and restraining the q-commerce market?
• What are the demanding global regions of the q-commerce market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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