Key regions: China, United States, Europe, Germany, Asia
The eServices market in Latvia has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing availability of digital technology. Customer preferences in Latvia have shifted towards convenience and efficiency, leading to a growing demand for eServices. Consumers are increasingly turning to online platforms and mobile applications to access a wide range of services, including banking, shopping, transportation, and entertainment. This shift is primarily driven by the desire for convenience, as eServices allow customers to access and utilize services from the comfort of their own homes or on-the-go. Additionally, the ability to compare prices and access a wider range of options online has also contributed to the popularity of eServices among Latvian consumers. The trends in the eServices market in Latvia are in line with global trends, as the adoption of digital technology continues to increase worldwide. The proliferation of smartphones and affordable internet access has made it easier for consumers to access eServices, leading to a surge in demand. Furthermore, the COVID-19 pandemic has accelerated the adoption of eServices, as lockdowns and social distancing measures have forced consumers to rely more heavily on digital platforms for their everyday needs. One of the local special circumstances that has contributed to the growth of the eServices market in Latvia is the government's push for digitalization. The Latvian government has been actively promoting the use of eServices as part of its efforts to modernize the country's economy and improve efficiency. Initiatives such as the development of a national eID system and the introduction of digital signatures have made it easier for businesses and individuals to access and utilize eServices. Underlying macroeconomic factors have also played a role in the development of the eServices market in Latvia. The country's strong economic growth and increasing disposable income levels have created a favorable environment for the adoption of eServices. As consumers have more disposable income, they are more likely to spend on convenience and digital services. Additionally, the high internet penetration rate in Latvia has provided a solid foundation for the growth of the eServices market. In conclusion, the eServices market in Latvia is experiencing significant growth due to changing customer preferences, the increasing availability of digital technology, and the government's push for digitalization. These trends are in line with global developments in the eServices market, and are supported by local special circumstances and underlying macroeconomic factors.
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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