The eServices market in Armenia is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory. Customer preferences in Armenia are shifting towards digital solutions and online services. With the increasing availability of smartphones and internet access, customers are seeking convenience and efficiency in their daily lives. This has led to a growing demand for eServices such as online shopping, digital payments, and online banking. Customers are drawn to the ease of use and time-saving benefits of these digital platforms. Trends in the eServices market in Armenia are also driving its development. The government has been actively promoting the digitization of various sectors, including healthcare, education, and public services. This has resulted in the emergence of new online platforms and applications that cater to these specific needs. Additionally, the COVID-19 pandemic has accelerated the adoption of eServices as people turned to online solutions to meet their needs while adhering to social distancing measures. This trend is expected to continue even after the pandemic subsides. Local special circumstances in Armenia are also contributing to the growth of the eServices market. The country has a young and tech-savvy population that is eager to embrace new technologies and digital solutions. This demographic factor, combined with a relatively high internet penetration rate, provides a favorable environment for the expansion of eServices. Furthermore, Armenia has a vibrant startup ecosystem, with many innovative companies developing and offering eServices to both domestic and international markets. Underlying macroeconomic factors are also playing a role in the development of the eServices market in Armenia. The government has implemented policies to attract foreign direct investment and promote entrepreneurship, which has led to an increase in the number of startups and the availability of funding for eService ventures. Additionally, the country's strategic location at the crossroads of Europe and Asia positions it as a gateway for eService providers looking to expand into the wider region. In conclusion, the eServices market in Armenia is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As digital solutions become increasingly integrated into everyday life, the eServices market in Armenia is poised for further expansion and innovation.
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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