The quick commerce global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Quick Commerce Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The quick commerce market size has grown exponentially in recent years. It will grow from $83.31 billion in 2023 to $104.10 billion in 2024 at a compound annual growth rate (CAGR) of 25.0%. The growth in the historic period can be attributed to urbanization, changing lifestyles, transportation infrastructure, e-commerce growth, and demographic changes.
The quick commerce market size is expected to see exponential growth in the next few years. It will grow to $254.99 billion in 2028 at a compound annual growth rate (CAGR) of 25.1%. The growth in the forecast period can be attributed to sustainability concerns, regulatory landscape, consumer expectations, health and safety concerns, and market consolidation. Major trends in the forecast period include hyper-personalization, the rise of social commerce, augmented reality (AR) shopping, sustainable practices, and voice commerce.
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Scope Of Quick Commerce Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Quick Commerce Market Overview
Market Drivers –
The expansion of the e-commerce industry and online shopping is expected to propel the growth of the quick commerce market going forward. The e-commerce industry includes the buying and selling of goods and services over the Internet, while online shopping refers to the act of purchasing products or services through websites or mobile applications. The e-commerce industry and online shopping are expanding because of increased internet and mobile device penetration, advancements in technology, improved logistics and delivery services, and the convenience of shopping from home. Quick Commerce offers rapid on-demand delivery of online goods and services to consumers, enhancing convenience and meeting immediate needs. For instance, in May 2021, according to the United States Department of Commerce, a US-based government agency, e-commerce sales in the US reached $215.0 billion in the first quarter of 2021, which is an increase of 7.7% (±0.5%) compared to the fourth quarter of 2020. Therefore, the expansion of the e-commerce industry and online shopping is driving the growth of the quick commerce market.
Market Trends –
Major companies operating in the quick commerce market are developing innovative platforms, such as real-time quick commerce advertising solutions, to enhance customer engagement and gain a competitive edge in the market. Real-time quick commerce advertising solutions are self-service platforms enabling FMCG companies to use real-time bidding to promote products on on-demand delivery apps. For instance, in October 2022, Delivery Hero SE, a Germany-based online food ordering company, partnered with CitrusAd, an Australia-based self-serve e-commerce ad-serving platform, to launch new Self-Service Quick Commerce Advertising Solutions. This partnership allows FMCG companies to use advanced AdTech tools to promote their products. Through its on-demand delivery apps, Delivery Hero now offers real-time bidding capabilities, enabling brands to select different buying models, such as cost-per-click, and monitor results in real-time.
The quick commerce market covered in this report is segmented –
1) By Product: Food And Groceries, Stationery, Personal Care Items, Medicines, Small Electronics And Accessories, Clothing, Household Products, Others Products
2) By Technology: Application Based Operation, Website Based Operation, Hybrid Operation
3) By Payment Mode: Cash On Delivery, Online
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Regional Insights –
North America was the largest region in the quick commerce market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the quick commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the quick commerce market are Delivery Hero SE, DoorDash Inc., Gopuff, Maplebear Inc., Swiggy, Grab Holdings Inc., Getir, Shipt Inc., Postmates Inc., Missfresh Inc., Flink SE, ZeptoExpress Sdn Bhd, Lalamove LLC, FreshDirect LLC, Jokr Inc., Dunzo Digital Private Limited , Zapp Ltd., Blink Commerce Private Limited, Gorillas Technologies GmbH , GoJek, Rappi S.A.S, Weezy Technologies Limited
Table of Contents
1. Executive Summary
2. Quick Commerce Market characterstics
3. Quick Commerce Market Trends And Strategies
4. Quick Commerce Market – Macro Economic Scenario
5. Global Quick Commerce Market Size And Growth
…..
32. Global Quick Commerce Market Competitive Benchmarking
33. Global Quick Commerce Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Quick Commerce Market
35. Quick Commerce Market Future Outlook and Potential Analysis
36. Appendix
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