Global IT Spending in Food Delivery Marketplace 2015-2019
About food delivery marketplace in IT spending
Food delivery marketplace is an innovative business that has emerged from on-demand economy. On-demand economy is defined as a new economic activity created and facilitated by tech companies, using digital technology. This economy is growing at a significant pace, and is causing a paradigm shift in the way consumers transact and procure goods. Food delivery marketplace has gained popularity among the urban population as it offers hassle free service at the consumer’s convenience. Customers can order their food online by using this service, choosing from a variety of restaurants and cuisines. Customers can pay online or via COD.Food delivery companies such as Delivery Hero, Foodpanda, TinyOwl are increasingly gaining traction among investors. Technavio expects investor funding in the food delivery market to multiply 10 times over the next 3 to 5 years. Investments in IT by these companies are predominantly for acquiring commercial off-the-shelf-technology such as hardware, software, and storage and security solutions. These investments are aimed at helping food delivery companies keep pace with their growing customer base, and to drive revenue growth by helping them understand their customers’ needs and offer customized services. Big data analytical tools enable food delivery companies analyze data such as customers’ history and preferences, which in turn allows them to offer customized services. Also, the use of predictive analytical tools improves inventory management at restaurants.
Technavio's analysts forecast the global food delivery marketplace in IT spending to grow at a CAGR of 37% over the period 2014-2019.
Covered in this report
This report covers the present scenario and the growth prospects of the global food delivery marketplace in IT spending for the period 2015-2019. To calculate the market size, the report takes into account the IT spending by food delivery companies. The food delivery marketplace players considered in the report are of two types:-
Technavio Announces the Publication of its Research Report – Global IT Spending in Food Delivery Marketplace 2015-2019
Technavio recognizes the following companies as the key players in the Global IT Spending in Food Delivery Marketplace: IBM, HP, Microsoft and Netsuite
Other Prominent Vendors in the market are: Citrus Pay, Infosys, MapmyIndia, Paypal, PayU, TCS, and Zaakpay.
Commenting on the report, an analyst from Technavio’s team said: “Market players are collaborating with cab aggregators for final delivery. The persistent growth of the food delivery market requires collaboration as the market is highly dependent on its fleet. Delivery time is a critical differentiator in this market. Collaborations exist among food aggregators, cab aggregators, and hotels. We expect these tie-ups to expand significantly during the forecast period.”
According to the report, online ordering of food has risen in popularity with the proliferation of smartphones. Mobile apps have made it convenient to order food online. Consequently, the focus is on developing or even acquiring mobile apps. Thus, several players are shifting their focus from web to mobile app for business generation.
Further, the report states that secured payment gateways are essential for online food orders. These gateways allow customers to pay through credit cards, debit cards, and net banking. However, customers may be hesitant about sharing their account details online fearing security issues. Therefore, payment gateways have to be secure and encrypted to prevent misuse of sensitive information such as credit card data.
IBM, HP, Microsoft, Netsuite, Citrus Pay, Infosys, MapmyIndia, Paypal, PayU, TCS, Zaakpay.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook