According to the report, the global food delivery mobile application market generated $6.75 billion in 2020, and is expected to reach $62.83 billion by 2030, witnessing a CAGR of 25% from 2021 to 2030.
High internet penetration, rise in adoption of smartphones, changes in lifestyle in developing countries, and advantages such as cost savings, high return on investments (ROI), high profit margins, and high customer retention drive the growth of the global food delivery mobile application market. However, lack of high-speed connectivity in developing and underdeveloped countries and uncertainty of enterprises in developing their own applications restrain the market growth. On the other hand, increase in investments in digitalization and rise in alliances and collaborations of application developers with various restaurants present new opportunities in the coming years.
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The Android segment to continue its leadership status throughout the forecast period
Based on deployment platform, the Android segment accounted for the highest market share in 2020, accounting for around half of the global food delivery mobile application market, and is estimated to continue its leadership status in terms of revenue throughout the forecast period. This is due to larger base of android users as compared to other types of operating systems. However, the iOS segment is expected to witness the highest CAGR of 26.5% from 2021 to 2030, owing to the global digitization, accessible designer tools, cross-device development, and monetization.
The food delivery market place segment to maintain its lead position during the forecast period
Based on end user, the food delivery market place segment contributed to the highest market share in 2020, holding more than four-fifths of the global food delivery mobile application industry, and is projected to maintain its lead position during the forecast period. This is attributed to no additional costs to consumers and ability of aggregators to achieve high-profit margins with the asset-light model. However, the restaurants & others segment is expected to manifest the fastest CAGR of 27.5% from 2021 to 2030, owing to rise in popularity of digital services among businesses and customers.
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Asia-Pacific, followed by North America, to maintain its dominance by 2030
Based on region, Asia-Pacific, followed by North America, accounted for the highest market share in terms of revenue in 2020, contributing to more than two-fifths of the global food delivery mobile application market, and is expected to maintain its dominance by 2030. This is attributed to presence of many global and domestic food service players including Zomato, Foodpanda, Waimai Baidu, and others and rise in penetration of smartphones. The report also analyzes regions including Europe and LAMEA.
Leading Market Players
- Apple Inc.
- CA, Inc. (Broadcom)
- Google Inc.
- IBM Corporation
- Microsoft Corporation
- Red Hat, Inc.
- SAP SE
- Zoho Corporation Pvt. Ltd.
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KEY FINDINGS OF THE STUDY –
- By deployment platform, the android segment accounted for the largest food delivery mobile application market share in 2020.
- Region wise, Asia-Pacific generated the highest revenue in 2020.
- On the basis of end user, the food delivery market place accounted for the largest food delivery mobile application market forecast.
In the midst of the global COVID-19 outbreak, the advantages of online food delivery (FD) were obvious as it facilitated consumer access to prepared meals and enabled food providers to keep operating. However, following the recovery from the COVID-19 pandemic, the food industry is expected to grow in the next coming years. Various firms globally have implemented a work-from-home culture for their staff, resulting in rise in demand for ready to eat food, which is expected to increase growth in the food delivery mobile application industry.
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