LONDON--(BUSINESS WIRE)--The online on-demand food delivery services market size is expected to post a CAGR over 15% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The growing consumer demand for convenient food ordering is one of the major reasons for the growth of the market. Consumers increasingly prefer to order food through online food delivery applications owing to the rapid global penetration of e-commerce and Internet-enabled devices. The shift from conventional on-premises dining to ordering online is also attributed to factors such as convenience, low costs, and the availability of a large variety of dishes online.
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As per Technavio, the rising popularity of social media in online on-demand food delivery will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Online On-Demand Food Delivery Services Market: Rising Popularity of Social Media in Online On-Demand Food Delivery
Social media is increasingly being leveraged by vendors as a key channel for marketing and promotional activities. Established vendors in the market have an active social media presence through which they promote their online delivery services, food, and restaurants. Moreover, social media provides a key avenue for vendors to connect and engage directly with their customers. Thus, the rising popularity of social media is expected to boost the growth of the market during the forecast period.
“Apart from the rising popularity of social media, other factors such as the increasing emphasis on cybersecurity measures, and the growing prominence of technology and IoT devices will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Online On-Demand Food Delivery Services Market: Segmentation Analysis
This market research report segments the online on-demand food delivery services market by business model (order-focused food delivery services, and logistics-focused food delivery services) and geographical regions (North America, APAC, Europe, MEA, and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America respectively. The growth of the online on-demand food delivery services market share in APAC can be attributed to several factors such as increased investments by vendors to improve the efficiency of logistics and rising consumer willingness to spend on food delivery services.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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