Errand Service Market Was USD 17.5 Billion In 2022

Errand Service Market Was USD 17.5 Billion In 2022: Cognitive Market Research


What is an Errand Service?

An errand service is designed to assist individuals and businesses that are unable to carry out their usual tasks. These tasks are divided into corporate, employee, and executive errands, encompassing services like transportation, grocery shopping, pet care, vehicle maintenance, emergency healthcare, and more. Providers of errand services hire individuals from the local area and office settings to fulfill these tasks effectively. The errand service market is expanding due to changing lifestyles and busy schedules. Individuals and businesses seek convenience in outsourcing tasks like grocery shopping, package delivery, and administrative chores. Demands for time-saving solutions, especially in urban areas, drive the market's growth. The rise of online platforms has further facilitated easy access to these services, contributing to their increasing popularity. s, including AI-driven translation tools, increase productivity and widen the market. These developments empower businesses to offer better-tailored solutions and services, which, in turn, contribute to the growth of the Errand service industry.

Grab Holdings, the largest ride-hailing and food delivery company in Southeast Asia, has disclosed a merger with Altimeter Growth Corp, a deal valued at USD 40 billion.

(Source:timesofindia.indiatimes.com/business/international-business/grab-agrees-worlds-biggest-spac-merger-valued-at-40-billion/articleshow/82049803.cms)

Factors Affecting Errand Service Market Growth

  • Growing Demand for Employment Services is Driving the Market

The demand for Employment Services is propelling the growth of the Errand Service Market due to changing work dynamics. Remote work and flexible schedules have led to a need for assistance with tasks that individuals might find challenging to manage alongside their jobs.

Uber Technologies Inc. has successfully acquired Drizly. The collaboration between these entities will involve integrating their respective delivery applications and services. The acquisition was around USD 1.1 billion, comprising about 18.7 million newly issued shares of Uber common stock, along with a cash component.

(Source:investor.uber.com/news-events/news/press-release-details/2021/Cheers-Uber-Completes-Acquisition-of-Drizly/default.aspx)

Errand services offer a solution by helping employees complete essential tasks, such as grocery shopping, cleaning, and package deliveries. As the line between work and personal life blurs, the convenience and time-saving aspects of errand services become crucial, thus driving their increasing popularity.

  • Emerging Promotional Activities Are Driving The Errand Service Market

Emerging promotional activities catalyze the Errand Service Market's growth by raising awareness and enticing new users. Creative marketing campaigns, social media presence, and business partnerships increased visibility. Special offers, loyalty programs, and referral rewards encourage customer engagement.

Eat Takeaway.com, Europe's biggest online food ordering and delivery service, has collaborated with McDonald's to enhance their delivery services.

(Source:www.reuters.com/business/just-eat-takeawaycom-agrees-delivery-partnership-with-mcdonalds-2022-03-22/)

As competition intensifies, companies use promotions to differentiate and attract clients. These efforts tap into the desire for convenience and time-saving solutions, amplifying demand for errand services. As these promotional strategies evolve, they drive the market's expansion and sustain customer interest.

Factors Restraining the Growth of the Errand Service Market

  • High Costs Involved Challenging The Errand Service Market

High costs pose a significant challenge to the Errand Service Market. Providing efficient, reliable services requires adequate compensation for errand runners. Ensuring fair wages while keeping services affordable for users can be a delicate balance. Operational expenses, insurance, and administrative overhead also contribute to cost constraints. Striking the right pricing model is essential to attract customers and maintain profitability. Overcoming these financial hurdles while delivering value-driven services is crucial for companies' sustained growth and competitiveness within the errand service industry.

Impact of COVID–19 on the Errand Service Market

COVID-19 presented significant challenges to the Errand Service market. Lockdowns and social distancing measures limited people's mobility and willingness to outsource tasks. Errand runners faced health risks, impacting service availability. Changing consumer priorities and economic uncertainties led to reduced demand. However, the pandemic also highlighted the importance of contactless services, encouraging innovation and adaptation. The Errand Service market had to navigate these complexities to sustain and evolve during the crisis.

We have various report editions of Errand Service Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of Errand Service Market

The market for errand service has a very active and diverse competitive environment. It comprises various language service providers, from significant multinational corporations to smaller specialized organizations. Due to globalization and technological development, there is fierce competition among businesses to provide cutting-edge solutions and errand service services.

July 2021: Errand360, an innovative logistics startup, has introduced a bicycle-powered delivery service in Nigeria. This platform focuses on catering to users who require swift and brief errand services within their localities and on-demand delivery solutions. The range of services it offers is diverse, and it is currently being initially launched in Lagos during its first phase. Users can conveniently access its services through a mobile app.

(Source:media.getfundedafrica.com/2021/07/28/logistics-startup-errand360-launches-its-delivery-services-in-nigeria/)

November 2019: Almost Anything Inc. has revealed the launch of its application, which aims to offer prompt, thorough on-demand delivery and errand services. The app is accessible for free download on the Apple App Store and Google Play Store. This introduction is strategically timed, coinciding with the upcoming bustling holiday period.

(Source:www.prnewswire.com/news-releases/almost-anything-inc-launches-new-errand-app-300961650.html)

Top Companies Market Share in Errand Service Industry: (In no particular order of Rank)

  • TaskRabbit
  • Caring Senior Service
  • Best Friend Errand
  • Errand Plus
  • Run Around Errand Service
  • Allow Me Errand Service
  • DaDa
  • Ipaotui
  • SF-Cityrush
  • Harmony Caregiving
  • Almost Anything Inc.
  • Errand360
  • DoorDash Inc.
  • Oak Business Consultant LLC
  • Uber Technologies Inc
  • NaborForce
  • Postmates
  • Instacart
  • Roadie
  • Confidential Data
  • Access The Paid Version
  • Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Errand Service Market Analysis

Global Errand Service Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Errand Service Industry growth. Errand Service market has been segmented with the help of its Type, Application Booking Medium, and others. Errand Service market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.

By Type, the Pickup segment is Dominating the Errand Service Market

The pickup type has secured the largest market share in the Errand Service Market due to its versatility and convenience. Users appreciate the ability to have items collected from various locations, including groceries, packages, and prescriptions. This model aligns with the growing preference for contactless and on-demand services, especially during the COVID-19 pandemic. The pickup type allows users to delegate tasks efficiently, making it the preferred choice for various errands and contributing to its dominant market share.

"Deliver Goods" is experiencing the highest Compound Annual Growth Rate (CAGR) in the Errand Service Market's forecast period due to changing consumer behavior and the rise of e-commerce. The increasing demand for timely and efficient delivery of groceries, parcels, and products has amplified the need for such services. The convenience of having goods delivered directly to doorsteps aligns with the evolving preference for contactless transactions. As online shopping and delivery culture continue to surge, "Deliver Goods" is forecasted for rapid expansion.

  • Pickup
  • Appointment
  • Deliver Goods
  • Others

By Application, the Town Application segment Dominated the Errand Service Market

Due to its localized approach, the "Town Application" prevails in the Errand Service Market. It caters to the needs of residents within a specific geographic area, offering hyper-localized services like grocery pickup, prescription delivery, and household chores. This targeted focus enhances efficiency and reduces travel times, appealing to users seeking quick and convenient solutions. The "Town Application" model captures a significant market share as people increasingly prioritize localized services for everyday tasks.

Due to its untapped potential, the rural application is projected to experience the highest Compound Annual Growth Rate (CAGR) in the Errand Service Market forecast period. Rural areas often have limited access to convenient services, making errand services a valuable solution for residents. As digital platforms extend their reach to these areas and awareness grows, the demand for tasks like grocery delivery, pharmacy runs, and other essentials become increasingly pronounced, driving the rapid growth of the rural application segment.

  • Town
  • Rural

Errand Service Booking Medium Segment Analysis

  • App
  • Web-based
  • Telephonic

The North America Errand Service Market holds the Largest Share

The North American region commands the largest share of the Errand Service Market due to its developed economies, urbanization, and tech-savvy population. Busy lifestyles, longer working hours, and the desire for convenience drive the demand for errand services. High internet penetration and smartphone usage facilitate easy access to such services. Moreover, the region's well-established gig economy and the presence of major players contribute to its dominance. These factors collectively position North America as a key market for errand services.

The United States Captured the Largest Market of Errand Service in North America

Due to several factors, the United States has captured the largest market share in the Errand Service Market during the forecast period. The country's significant population, widespread urbanization, and busy lifestyles create a demand for time-saving solutions like errand services. High disposable income levels and the adoption of digital platforms contribute to the popularity of such services. The presence of established companies, along with innovative startups, further drives market growth. These factors combined make the United States a dominant global errand service market player.

Asia Pacific Errand Service Market to Witness the Highest Growth in the Coming Years

The Asia Pacific region is poised for rapid growth in the Errand Service market due to changing lifestyles, urbanization, and increased technology adoption. As cities expand and commute times rise, the demand for convenient solutions like errand services escalates. Growing disposable income and a digitally engaged population further fuel adoption of errand service market in this region. Additionally, the region's diverse economies and varying levels of access to traditional services present a ripe opportunity for innovative solutions, contributing to the projected rapid growth.

The current report Scope analyzes Errand Service Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

  • North America (United States, Canada, Mexico)
  • Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
  • Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
  • South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
  • Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)