Rise in standard of living in the developing countries, high internet penetration, and surge in mobile and smartphone usages are the prime key factors behind the growth of the global food delivery mobile application market. However, lack of high-speed connectivity in emerging countries and uncertainty of enterprises in developing their own application hamper the market growth. On the contrary, increase in investment on digitalization and growing collaborations of various restaurants with application developers are expected to create lucrative opportunities in the near future. According to the report, the global food delivery mobile application market accounted for $3.12 billion in 2016 and is estimated to garner $16.61 billion by 2023, registering a CAGR of 27.9% through 2023.
Global food delivery mobile application market is divided on the basis of deployment platform, end user, and geography. Based on the deployment platform the market is segmented into Android, iOS, and others. The Android segment dominated the market in terms of revenue, contributing more than two-thirds of the total market, owing to increased usage of Android smartphones and other IoE devices. However, the iOS segment is estimated to register the fastest CAGR of 29.2% during the forecast period.
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On the basis of end user, the market is divided into food delivery market place and restaurants and others. The food delivery market place segment is expected to manifest the fastest CAGR of 28% during the forecast period. However, the segment contributed the largest share in 2017, holding more than four-fifths of the total market. This is attributed to increasing in global reach of vendors, high internet penetration in developing countries.
Based on geography, the market is analyzed in various regions such as North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific region held the largest share in 2017, contributing nearly half of the market, owing to rise in adoption and number of food delivery apps. Moreover, the market is projected to portray the fastest CAGR of 29.8% during the forecast period.
Global food delivery mobile application market report includes an in-depth analysis of the market players such as Cognizant, Apple Inc., Microsoft Corporation, IBM Corporation, CA, Inc., SAP SE, Mendix, Google Inc., SAP SE, Red Hat, Inc., and Zoho Corporation Pvt. Ltd.
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