eServices - Baltics

Baltics

The eServices market in the Baltics is expected to generate a revenue of US$479.90m in 2024.
It is projected to experience a compound annual growth rate (CAGR) of 8.78% from 2024 to 2029, resulting in a market volume of US$731.00m by 2029.
In the year 2025, the Online Food Delivery market is anticipated to witness a revenue growth of 13.5%.
Meanwhile, the Online Food Delivery market is projected to reach a market volume of US$428.20m in 2024.
When comparing global revenue, China is expected to generate the highest revenue in the eServices market, amounting to US$495.50bn in 2024.
The average revenue per user (ARPU) in the Online Food Delivery market is projected to be US$192.60 in 2024.
Additionally, the Online Food Delivery market is expected to have a user base of 2.8m users by 2029.
In terms of user penetration, the Online Food Delivery market is estimated to have a penetration rate of 38.2% in 2024.
In the eServices market in the Baltics, Estonia is leading the way with its advanced digital infrastructure and high level of internet penetration.

Market

Region

Region comparison

Currency

Analyst Opinion

The eServices market in Baltics has been experiencing significant growth in recent years.

Customer preferences: Customers in the Baltics are increasingly turning to eServices for their convenience and efficiency. The rise of smartphones and high-speed internet has made it easier for people to access and use eServices, such as online shopping, digital banking, and e-government services. Customers appreciate the convenience of being able to access these services from anywhere and at any time, without the need to visit physical locations or wait in line. In addition, eServices often offer a wider range of options and customization, allowing customers to find exactly what they are looking for.

Trends in the market: One of the key trends in the eServices market in the Baltics is the growth of e-commerce. Online shopping has become increasingly popular, with customers enjoying the convenience of being able to browse and purchase products from the comfort of their own homes. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping as people avoid physical stores. As a result, many businesses have shifted their focus to online sales and are investing in e-commerce platforms and logistics to meet the growing demand. Another trend in the eServices market is the digitization of government services. The Baltics have been at the forefront of e-government initiatives, with Estonia in particular leading the way. The government has invested heavily in digital infrastructure and services, allowing citizens to access a wide range of government services online, from applying for ID cards to filing taxes. This has not only improved efficiency and reduced bureaucracy, but also increased transparency and trust in the government.

Local special circumstances: The Baltics have a highly educated and tech-savvy population, which has contributed to the rapid adoption of eServices. The region has a high internet penetration rate and a strong digital culture, with many people comfortable using technology in their daily lives. This has created a favorable environment for the development of eServices, as customers are receptive to new digital solutions and willing to embrace change.

Underlying macroeconomic factors: The eServices market in the Baltics has also been supported by favorable macroeconomic conditions. The region has experienced steady economic growth in recent years, which has increased disposable incomes and consumer spending. This has created a larger market for eServices, as customers have more money to spend and are willing to invest in convenience and efficiency. In addition, the governments in the Baltics have been supportive of the digital economy, providing incentives and support for businesses in the eServices sector. In conclusion, the eServices market in the Baltics is experiencing strong growth due to customer preferences for convenience and efficiency, the rise of e-commerce, the digitization of government services, the tech-savvy population, and favorable macroeconomic conditions. As these trends continue to evolve, we can expect further expansion and innovation in the eServices market in the Baltics.

Methodology

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.