The global online on-demand food delivery services market is expected to post a CAGR of more than 15% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The rapid penetration of internet-enabled devices and the availability of a large variety of online dishes is encouraging consumers to order food online. In addition, online food delivery applications offer various discounts and payment modes such as online payment and cash-on-delivery. This enables consumers to choose multiple dishes from different restaurants. Many such benefits offered by food delivery applications are increasing the convenience for consumers, which is driving market growth.
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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.
Global Online On-Demand Food Delivery Services Market: Rising Popularity of Social Media
Established players are expanding their presence by promoting their online delivery services, food, and restaurants through social media platforms. This includes images of food menus and promotional codes. Social media helps restaurants and online food delivery companies to connect and engage directly with the customers. Several vendors are collaborating with social media websites to expand their consumer base. This trend is expected to positively influence the growth of the global online on-demand food delivery services market during the forecast period.
"Increasing emphasis on cybersecurity measures and 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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Global Online On-Demand Food Delivery Services Market: Segmentation Analysis
This market report segments the global online on-demand food delivery services market by business model (order-focused food delivery services and logistics focused food delivery services) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the increasing investments in delivery-only kitchens in the region.
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Some of the key topics covered in the report include:
Five Forces Analysis
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