Connect with us

Technology

AI is Redefining the Online On-Demand Food Delivery Market, Set to Grow by USD 559.2 Billion (2024-2028) Due to Restaurant-Aggregator Partnerships – Technavio Report

Published

on

NEW YORK, Sept. 18, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global online on-demand food delivery services market size is estimated to grow by USD 559.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 34.65% during the forecast period. Increasing partnerships between restaurants and online food delivery aggregators is driving market growth, with a trend towards growing prominence of technology and iot devices. However, growing threat from direct delivery services offered by restaurants poses a challenge. Key market players include Alibaba Group Holding Ltd., Bundl Technologies Pvt. Ltd., Curefoods India Pvt. Ltd., Delivery Hero SE, Dominos Pizza Inc., DoorDash Inc., Dunzo Digital Pvt. Ltd., EatSure, Glovoapp23 SL, Grab Holdings Ltd., Grubhub Inc., HelloFood, HungryPanda Ltd., Just Eat Takeaway.com, Meituan Dianping, Movile, Rappi Inc., Talabat, Uber Technologies Inc., and Zomato Media Pvt. Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Online On-Demand Food Delivery Services Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 34.65%

Market growth 2024-2028

USD 559.2 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

25.86

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 71%

Key countries

US, China, UK, Japan, and South Korea

Key companies profiled

Alibaba Group Holding Ltd., Bundl Technologies Pvt. Ltd., Curefoods India Pvt. Ltd., Delivery Hero SE, Dominos Pizza Inc., DoorDash Inc., Dunzo Digital Pvt. Ltd., EatSure, Glovoapp23 SL, Grab Holdings Ltd., Grubhub Inc., HelloFood, HungryPanda Ltd., Just Eat Takeaway.com, Meituan Dianping, Movile, Rappi Inc., Talabat, Uber Technologies Inc., and Zomato Media Pvt. Ltd.

 

Market Driver

Vendors in the global online on-demand food delivery services market are enhancing their businesses through technology investments. This includes expanding customer bases, developing infrastructure, and training personnel. Notably, restaurants and food delivery services are prioritizing cross-platform ordering capabilities for customer convenience. In the US, Dominos Anyware showcases this trend, enabling orders through IoT devices like smart TVs, smartwatches, and connected cars. Technology, particularly IoT, is poised to significantly impact the market during the forecast period. 

The Online On-Demand Food Delivery Services market is experiencing significant growth due to increased smartphone penetration and internet connectivity. AI-driven recommendations, order tracking, and personalized options are trending features. Healthier, sustainable meal options, plant-based foods, organic foods, pet food, grocery, alcohol, and meal delivery are expanding categories. Dark kitchens and virtual kitchens are emerging business models. Uber Eats Japan, Cartken, Mitsubishi Electric, DoorDash, and shipping services are major players. Volume of orders is high in urban markets, driven by millennials and tech giants. Competitive prices, discounts, and customer loyalty programs are key strategies. Venture capital and strategic maneuvers are shaping consolidation. Historic period shows continued growth from 2010s to present, with payment methods evolving from cardboard boxes to online portals. Ready-to-eat food and restaurant-to-customer models are also gaining traction. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

 Market Challenges

Several restaurants are taking control of their online food delivery operations to manage branding, quality, safety, and hygiene directly. This shift allows for a more engaged customer relationship and potential cost savings from avoiding third-party delivery service commissions. Additionally, direct orders can lead to shorter delivery times and streamlined payment processes, enhancing brand loyalty. However, this trend may challenge the growth of the global online on-demand food delivery services market, as restaurants handle increasing order volumes themselves.In the historic period of the 21st century, online on-demand food delivery services have revolutionized the way we order and consume ready-to-eat food. The platform connects restaurants to customers through an online portal, enabling seamless ordering and payment methods. Internet penetration and smartphone usage have fueled this growth, with tech giants like Amazon, Uber, and Grubhub leading the charge. Challenges in this market include last-mile connectivity, meal delivery times, and restaurant review. Shipping services must ensure timely delivery using ecommerce delivery solutions and optimizing last-mile connectivity. Virtual kitchens, cloud kitchens, and ghost kitchens have emerged to cater to the increasing demand for online food sales. Millennials, with their preference for convenience and innovation, have driven the market. Servicing personnel, instore merchandising, and order processing systems have become essential components of the business model. Packaged food services, POS systems, and digital menu boards have also become crucial. Food preferences, sales trends, and order processing times are essential factors for restaurants to consider. DemandSage and other aggregators help restaurants manage their online sales and customer preferences. Robot food delivery and cardboard boxes are the latest innovations in the industry, addressing the need for contactless delivery and sustainable packaging. Insurance, furnishing, and meal delivery volumes are other areas of focus for businesses in this sector.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview 

This online on-demand food delivery services market report extensively covers market segmentation by

Business Segment1.1 Order-focused food delivery services1.2 Logistics-focused food delivery servicesType 2.1 Restaurant-to-consumer2.2 Platform-to-consumerGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Order-focused food delivery services- Online on-demand food delivery services have become increasingly popular, offering customers the convenience of ordering meals from their preferred restaurants and having them delivered right to their doorstep. These services use advanced technology to facilitate seamless ordering, real-time tracking, and contactless delivery, making them a reliable solution for busy individuals and families. The market for online food delivery is growing rapidly, with companies investing in expanding their offerings, improving logistics, and enhancing the customer experience. By providing a convenient and efficient solution for meal preparation and delivery, these services have become an essential part of modern life.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Online On-Demand Food Delivery Services Market is a rapidly growing industry that caters to the increasing demand for convenience and flexibility in meal consumption. Virtual kitchens and cloud kitchens have emerged as key players in this market, focusing solely on preparing meals for delivery orders. Millennials, with their preference for technology and convenience, are a significant consumer base. The market utilizes cardboard boxes and insulated bags for delivery, ensuring the food stays fresh during transit. Aggregators and ecommerce delivery platforms facilitate online sales, with last-mile connectivity ensuring timely delivery. Smartphones and mobile devices have become essential tools for order processing and digital menu boards. Robot food delivery and meal delivery times are innovations that aim to further streamline the process. Customer preferences and sales trends shape the menu offerings, while order processing systems and restaurant reviews help maintain quality. Insurance, servicing personnel, and furnishing are other important considerations for players in this market. Food preferences and delivery volumes continue to shape the industry, with virtual restaurants and ghost kitchens gaining popularity in urban markets.

Market Research Overview

The Online On-Demand Food Delivery Services market has seen significant growth in the historic period, driven by the increasing penetration of the internet and smartphone usage. This platform-to-customer model allows ready-to-eat food to be ordered online from restaurants or virtual kitchens and delivered to customers’ doors. Payment methods have evolved, with tech giants integrating e-wallets and other digital payment systems. Urban markets, particularly in developed countries, have seen high demand for food delivery services, with aggregators and e-commerce delivery companies servicing millions of orders per day. Last-mile connectivity and the rise of dark and cloud kitchens have enabled efficient delivery and cost savings. Millennials, with their preference for convenience and technology, have fueled the growth of this market. Meal delivery times, personalized orders, and AI-driven recommendations have become essential features for customer satisfaction. Healthier meal options, sustainable meal options, plant-based foods, and organic foods are also gaining popularity. The market is witnessing consolidation, with strategic maneuvers and venture capital investments shaping the competitive landscape. Companies like Uber Eats Japan, Cartken, and Mitsubishi Electric are making significant strides in the market. The future of food delivery services looks promising, with innovations like robot food delivery and meal aggregators offering restaurant options and competitive prices.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Business SegmentOrder-focused Food Delivery ServicesLogistics-focused Food Delivery ServicesTypeRestaurant-to-consumerPlatform-to-consumerGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/ai-is-redefining-the-online-on-demand-food-delivery-market-set-to-grow-by-usd-559-2-billion-2024-2028-due-to-restaurant-aggregator-partnerships–technavio-report-302252084.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Lexmark Showcases New Printers and Technology Solutions for Retailers at NRF 2025

Published

on

By

NEW YORK, Jan. 12, 2025 /PRNewswire/ — Lexmark, a global imaging and IoT solutions leader, will showcase its cutting-edge, retail-ready printers and solutions at NRF 2025, Retail’s Big Show and Expo, Jan. 12 to 14, at the Jacob K. Javits Center in New York. The Lexmark showcase will be in booth #6321.

“Lexmark kicks off the year with a bang by showcasing our latest 9-Series family of A3 printers and MFPs at NRF for the first time,” said Tim Speller, Lexmark’s head of retail and manufacturing. “These sophisticated devices will usher in a new era of opportunity for retailers to maximize operational efficiency while increasing sales.”

Here’s what will be on display in Lexmark booth #6321:

New Lexmark 9-Series printers and MFPs are designed for challenging retail environments

Built by evolving Lexmark’s renowned A4 technology, the 9-Series delivers versatility, simplicity and sustainability. These solutions are easy to use and manage – perfect for any retail salesfloor or back office.

Key highlights of 9-Series:

Versatile and easy to use. The 9-Series offers a broad range of media size support (A6 to SRA3), high-volume duty cycles, a common set of modular paper-handling options, finishing capabilities and professional color features including PANTONE® calibration.Simple and easy to manage. The 9-Series’ intuitive interface streamlines workflows by providing simple instructions and prompts. For routine maintenance, toner cartridges can be replaced with one hand, easily understood visual cues are displayed, and serviceable areas are easy to access and identify.Sustainable and easy to feel good about. The 9-Series’ total post-consumer recycled (PCR) content is 56% by weight for all base-model MFPs and 73% by weight for the line’s base-model printer, based on IEEE calculation procedures. *Built to last. The 9-Series is designed and built to last seven years or more. Having few components helps reduce the likelihood of technical failure while also minimizing the service time required for repairs and maintenance. Experienced technicians can perform most common service actions, even highly complex tasks, in less than 15 minutes, according to Lexmark testing.

Lexmark Engagement Automation Platform (LEAP) helps retailers drive sales and foot traffic with hyper-local social media ads

LEAP automates one-to-one promotions that drive footfall to local stores. Store leaders can trigger hyper-personalized sale posts and boost ads based on individual store inventory conditions through loyalty program apps and social media platforms like Facebook and Instagram. With advanced analytics and reporting capabilities, LEAP provides the insights needed to measure success and make data-driven decisions.

Key highlights of LEAP:

Engagement: To engage shoppers, center promotions around customer buying patterns with an engagement automation platform that posts localized content – such as store-specific offers, events and locally grown produce initiatives.

Automation: Schedule and manage automatic localization and delivery of corporate promotional messaging with an engagement automation platform to reach consumers through social media with hyper-local content around each store or audience region.

Loyalty: Attract local customers with an engagement automation platform that sends store- and corporate-initiated offers to geo-fenced social media apps like Facebook and Instagram and loyalty program applications.

Supporting resources

Learn more about Lexmark’s booth at NRF 2025.

Read Lexmark’s NRF blog.

Schedule a booth meeting with our retail experts during NRF 2025.

Get more details about the Lexmark 9-Series.

Get more details about the Lexmark Engagement Automation Platform (LEAP).

Watch a video about LEAP.

Get the details on NRF 2025.

Follow us on LinkedIn for live NRF updates.

About Lexmark

Lexmark creates cloud-enabled imaging and IoT technologies that help customers worldwide quickly realize business outcomes. Through a powerful combination of proven technologies and deep industry expertise, Lexmark accelerates business transformation, turning information into insights, data into decisions, and analytics into action.

Lexmark and the Lexmark logo are trademarks of Lexmark International, Inc., registered in the United States and/or other countries. All other trademarks are property of their respective owners.

* PCR content measured in accordance with IEEE Std 1680.2a™ – 2017 Standard for Environmental Assessment of Imaging Equipment – Amendment 1 — which is the standard used by EPEAT.

View original content to download multimedia:https://www.prnewswire.com/news-releases/lexmark-showcases-new-printers-and-technology-solutions-for-retailers-at-nrf-2025-302348628.html

SOURCE Lexmark

Continue Reading

Technology

Pricer and Focal Systems Announce Strategic Collaboration to Drive the Next Step in Physical Store Digitalization

Published

on

By

Pricer, a global leader in digital shelf-edge solutions, and Focal Systems, a leader in shelf-edge AI, today announced a strategic collaboration to accelerate the digitization and optimization of the physical store for retailers worldwide.

STOCKHOLM, Jan. 12, 2025 /PRNewswire/ — This collaboration brings together Pricer’s innovations in dynamic pricing and shelf-edge communication with Focal Systems’ advanced computer vision and product availability solutions to maximize shopper satisfaction while optimizing retail operations.

As a pioneer in enabling dynamic pricing and digitizing shelf-edge shopper communication, Pricer has led the first step of the retail digitalization journey. Focal Systems has pioneered the application of computer vision to digitizing what products are available on-shelf or not in near real-time. Together, Pricer and Focal Systems will empower retailers to improve labor efficiency, reduce out-of-stocks, increase sales, and enhance shopper satisfaction like never before.

Enhancing the Shelf Edge Through Collaboration

By integrating Focal Systems’ AI-powered shelf vision cameras with Pricer’s leading electronic shelf label (ESL) platform, retailers will benefit from:

Real-Time Shelf Insights: Automated detection and alerting of out-of-stock or low items powering rapid replenishment and increased shopper satisfactionDynamic Task Automation: Streamlined workflows and prioritized tasks to improve operational efficiency for store staff.Patented Innovation: Camera-based out of stock detection and communication, flashing ESLs, alternate location communication.Seamless Integration: Standardized API connections that deliver out-of-the-box value, offering synchronized ESL flashes, messaging updates, and shelf-edge intelligence.

Together, Pricer and Focal Systems demonstrate that the combined offerings deliver measurable value for the retailers by enabling a fully digitalized shelf-edge ecosystem.

Strategic Collaboration for the Future of Retail

“We are proud to combine our leadership in ESL technology with Focal Systems’ AI-powered shelf vision,” said Chris Chalkitis, CDO at Pricer. “Both companies share a belief in the digitalization of the physical store. Pricer has been a pioneer in dynamic pricing and shelf-edge communication. With Focal Systems, we take the next step, digitizing what’s on the shelf – and what’s not – to drive greater efficiency and performance for retailers.”

Focal Systems’ AI technology transforms retail operations through real-time shelf monitoring and replenishment task optimization.

“Partnering with Pricer, a global leader with groundbreaking ESL technology and innovation, creates tremendous value for retailers,” said Kevin H. Johnson, CEO at Focal Systems. “Together, we deliver an integrated, data-driven solution that reduces operational complexity, automates workflows, and enhances the in-store experience. We look forward to demonstrating this powerful collaboration to retailers and their customers.”

Showcasing the Future at NRF 2025

The collaboration will officially debut at the National Retail Federation (NRF) Big Show in January 2025, where Pricer and Focal Systems will showcase the integrated solution at Pricer’s booth. This marks the beginning of an exciting journey to redefine the shelf edge and set new standards for retail innovation.

For further information, please contact:
Chris Chalkitis, Chief Digital Officer, +46 70 4849812
Finn Wikander, Chief Product Officer, +46 705 233077
info@pricer.com

About Pricer

Pricer is a leading global provider of digital shelf-edge solutions, helping retailers optimize pricing, improve operational efficiency, and enhance the customer experience. With patented innovations like camera-based product identification by ESL, Pricer continues to set the standard for dynamic, intelligent shelf-edge solutions. For more information, visit www.pricer.com.

About Focal Systems

Focal Systems is a leading provider of AI-powered computer vision solutions, helping retailers automate operations and optimize product availability through real-time shelf monitoring. Its advanced technology delivers actionable insights that drive efficiency and profitability. For more information, visit www.focal.systems.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/pricer/r/pricer-and-focal-systems-announce-strategic-collaboration-to-drive-the-next-step-in-physical-store-d,c4090287

The following files are available for download:

View original content:https://www.prnewswire.com/news-releases/pricer-and-focal-systems-announce-strategic-collaboration-to-drive-the-next-step-in-physical-store-digitalization-302348632.html

SOURCE PRICER

Continue Reading

Technology

Blue Owl Capital Expands Tennis Player Sponsorship to All Grand Slam Tournaments in 2025

Published

on

By

Blue Owl to place logo patches on dozens of athletes competing across the Australian Open,
French Open, Wimbledon, and US Open

Jordan Thompson named as Blue Owl’s dedicated athlete ambassador for the Australian Open

NEW YORK, Jan. 12, 2025 /PRNewswire/ — Blue Owl Capital Inc. (“Blue Owl”) (NYSE: OWL), a leading alternative asset manager, announced today a marquee sponsorship agreement to expand their presence at all Grand Slam tournaments in 2025 and become the exclusive financial services partner for professional tennis’ Player Patch Program.

Blue Owl’s logo will be featured on the shirt of select players competing across men’s singles, women’s singles, mixed doubles, men’s doubles and women’s doubles competitions at this year’s Australian Open, French Open, Wimbledon, and US Open tournaments. In addition to Blue Owl’s presence on the courts, the firm will be featured in iconic Melbourne transit hubs, social media and digital media during the Australian Open in an effort to raise brand awareness within the country and the broader APAC market.

Blue Owl Chief Marketing Officer Suzanne Escousse said, “Just as Blue Owl is redefining alternative investing, we are supporting established and emerging professional players who are redefining the game of tennis. Tennis is a truly worldwide sport requiring peak performance in critical, high-pressure moments. This is the same ethos that underpins Blue Owl and allows us to focus on delivering results for our international client base. Following the success of our involvement with the Patch Program at the 2024 US Open, and given Blue Owl’s established presence within the country, Australia is the perfect place to kick off our presence across Grand Slam tournaments.”

Blue Owl has also partnered with Australian tennis professional Jordan Thompson, who will serve as the firm’s Athlete Ambassador at the 2025 Australian Open – January 12-26 in Melbourne. Most recently, Thompson won the men’s doubles at the 2024 US Open, where he was wearing a Blue Owl patch, and was a men’s doubles finalist at Wimbledon in 2024. He has also registered victories over several top-10-ranked opponents in singles competitions and previously represented Australia at the Olympics and the Davis Cup. Thompson will be one of several competitors wearing Blue Owl’s logo throughout the tournament.

Jordan Thompson said: “Blue Owl is focused on delivering excellence for its clients, which makes it a great fit for a partnership with professional tennis players. Support from firms like Blue Owl is tremendously beneficial for players who are preparing for career-defining events, especially the four Grand Slams. Our shared core values, including striving for success in every step of our journeys, whether that be in the financial services industry or competing as a professional athlete, is a perfect match. Alongside my coaches, my doubles teammate(s) and tennis fans, Blue Owl will play a key role for me here in Melbourne at the 2025 Australian Open.”

About Blue Owl

Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives.

With $235 billion in assets under management as of September 30, 2024, we invest across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Estate. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.

Together with over 1,050 experienced professionals, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com.

Media Contact

Nick Theccanat
Principal, Corporate Communications & Government Affairs
Nick.Theccanat@blueowl.com

View original content:https://www.prnewswire.com/news-releases/blue-owl-capital-expands-tennis-player-sponsorship-to-all-grand-slam-tournaments-in-2025-302348626.html

SOURCE Blue Owl Capital

Continue Reading

Trending