Food Delivery Mobile Application Market

High internet penetration and an increase in the adoption of smartphones boost the growth of the global food delivery mobile application market.

PORTLAND, PORTLAND, OR, UNITED STATES, June 19, 2023/EINPresswire.com/ -- According to the report, the global food delivery mobile application industry 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.

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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, the lack of high-speed connectivity in developing and underdeveloped countries and the uncertainty of enterprises in developing their own applications restrain market growth. On the other hand, an increase in investments in digitalization and the rise in alliances and collaborations of application developers with various restaurants present new opportunities in the coming years.

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Based on the 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 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 global digitization, accessible designer tools, cross-device development, and monetization.

Based on end users, the food delivery marketplace 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 the 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 the rise in the popularity of digital services among businesses and customers.

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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 the presence of many global and domestic food service players including Zomato, Foodpanda, Waimai Baidu, and others and the rise in the penetration of smartphones. The report also analyzes regions including Europe and LAMEA.

The key players that operate in the food delivery mobile application industry are Apple Inc., CA, Inc. (Broadcom), Cognizant, Google Inc., IBM Corporation, Mendix, Microsoft Corporation, Red Hat, Inc., SAP SE, and Zoho Corporation Pvt. Ltd.

Covid-19 Scenario:

• During the pandemic, the demand for food delivery increased considerably to avoid visiting restaurants, cafes, and hotels to avoid the possibility of cross-transmission. This led to a rise in the usage of food delivery mobile applications.

• Rise in the adoption of technology and surge in initiatives to consolidate the entire food delivery ecosystem in developing countries of Asia-Pacific raised the demand for food delivery mobile applications.

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