Key regions: China, United States, Europe, Germany, Asia
The eServices market in Eastern Asia is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this growth. Customer preferences in Eastern Asia are shifting towards convenience and efficiency. With busy lifestyles and a high reliance on technology, consumers in this region are increasingly seeking digital solutions for their everyday needs. This includes services such as online shopping, food delivery, ride-hailing, and online gaming. The convenience of being able to access these services from the comfort of their own homes or on-the-go has made them extremely popular among consumers. One of the key trends in the eServices market in Eastern Asia is the rise of mobile payment solutions. With the widespread adoption of smartphones and the increasing popularity of e-commerce, mobile payment platforms have become an integral part of the digital ecosystem. Consumers are now able to make payments for goods and services using their mobile devices, eliminating the need for cash or credit cards. This trend has been further accelerated by the COVID-19 pandemic, as consumers are increasingly opting for contactless payment methods to minimize physical contact. Another trend in the market is the growth of online entertainment services. With more people staying at home due to lockdowns and social distancing measures, the demand for online entertainment has surged. Streaming platforms, online gaming, and virtual events have all seen a significant increase in popularity. This trend is expected to continue as consumers embrace the convenience and variety offered by these digital entertainment options. Local special circumstances in Eastern Asia, such as high population density and limited physical space, have also contributed to the growth of the eServices market. In countries like Japan and South Korea, where space is at a premium, online shopping and delivery services have become essential for consumers who have limited access to physical stores. Similarly, ride-hailing services have gained traction in cities with heavy traffic congestion, providing a more efficient and convenient transportation option for commuters. Underlying macroeconomic factors, such as the region's strong economic growth and increasing internet penetration, have also played a significant role in the development of the eServices market in Eastern Asia. As disposable incomes rise and more people gain access to the internet, the demand for digital services is expected to continue growing. Additionally, government initiatives to promote digitalization and e-commerce have created a favorable environment for the growth of the eServices market. In conclusion, the eServices market in Eastern Asia is experiencing rapid growth and development due to shifting customer preferences, key market trends, local special circumstances, and underlying macroeconomic factors. As technology continues to advance and consumer behaviors evolve, the eServices market in this region is expected to expand further in the coming years.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
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