The eServices market in Australia has experienced significant growth in recent years, driven by changing customer preferences and advancements in technology.
Customer preferences: Customers in Australia have shown a strong preference for convenience and efficiency when it comes to accessing services. The rise of smartphones and the increasing availability of high-speed internet have made it easier for customers to access eServices on the go. This has led to a growing demand for online shopping, digital entertainment, and online banking services. Additionally, customers are increasingly looking for personalized and tailored experiences, which has led to the growth of eServices that offer personalized recommendations and targeted advertising.
Trends in the market: One of the key trends in the eServices market in Australia is the growth of the e-commerce sector. With the convenience of online shopping, customers are increasingly turning to e-commerce platforms to purchase a wide range of products. This trend has been further accelerated by the COVID-19 pandemic, which has led to a surge in online shopping as customers avoid physical stores. As a result, e-commerce platforms have seen significant growth in Australia, with both local and international players entering the market. Another trend in the eServices market is the increasing adoption of digital entertainment services. With the rise of streaming platforms and the availability of high-speed internet, customers in Australia are increasingly turning to digital entertainment options such as streaming movies, TV shows, and music. This trend has been further fueled by the increasing availability of affordable streaming services and the growing popularity of original content.
Local special circumstances: Australia's geography and population distribution present unique challenges and opportunities for the eServices market. The vast size of the country and the relatively small population density in certain areas make it more difficult for traditional brick-and-mortar businesses to reach customers. This has created opportunities for eServices providers to fill the gap and offer their services to customers who may not have easy access to physical stores.
Underlying macroeconomic factors: Australia has a strong economy and a high level of internet penetration, which has contributed to the growth of the eServices market. The country has a high standard of living, which has led to a higher disposable income for many Australians. This, combined with the convenience and efficiency offered by eServices, has made them an attractive option for customers. In conclusion, the eServices market in Australia has experienced significant growth due to changing customer preferences, advancements in technology, and underlying macroeconomic factors. The rise of e-commerce and digital entertainment services, driven by customer demand for convenience and personalized experiences, has been key drivers of this growth. Additionally, Australia's unique geography and population distribution have created opportunities for eServices providers to cater to customers who may not have easy access to physical stores.
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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