The eServices market in Bangladesh has been experiencing significant growth in recent years. Customer preferences have shifted towards digital solutions, leading to an increased demand for online services. This trend is driven by several factors, including the rapid expansion of internet connectivity, the growing popularity of smartphones, and the increasing adoption of digital payment systems.
Customer preferences: In Bangladesh, there is a strong preference for convenience and efficiency when it comes to accessing services. With the widespread availability of affordable smartphones and internet connectivity, customers are increasingly turning to online platforms to meet their needs. This includes services such as e-commerce, online banking, food delivery, ride-hailing, and online entertainment. The convenience of accessing these services from the comfort of their homes or on the go has made them highly popular among consumers.
Trends in the market: One of the key trends in the eServices market in Bangladesh is the rapid growth of e-commerce. Online shopping platforms have gained significant popularity, offering a wide range of products at competitive prices. This trend is driven by the convenience of shopping online, as well as the availability of secure payment options and reliable delivery services. Additionally, the COVID-19 pandemic has further accelerated the adoption of e-commerce, as consumers turned to online shopping to meet their needs while adhering to social distancing measures. Another emerging trend in the eServices market is the rise of digital financial services. Bangladesh has seen a significant increase in the adoption of mobile banking and digital payment solutions. This trend is driven by the government's efforts to promote financial inclusion and the convenience of digital transactions. Mobile banking services allow users to access their accounts, transfer money, pay bills, and make purchases using their smartphones. This has revolutionized the way people manage their finances and conduct transactions in Bangladesh.
Local special circumstances: Bangladesh has a large population with a significant portion of the population being young and tech-savvy. This demographic factor has contributed to the rapid adoption of eServices in the country. The government has also played a crucial role in promoting digital initiatives and creating an enabling environment for eServices to thrive. This includes the development of digital infrastructure, such as the expansion of internet connectivity and the implementation of policies to support the growth of the digital economy.
Underlying macroeconomic factors: The eServices market in Bangladesh is also influenced by underlying macroeconomic factors. The country has been experiencing steady economic growth, which has led to an increase in disposable income and consumer spending. This has created a favorable environment for the growth of eServices, as consumers have more purchasing power to engage in online transactions. Additionally, the government's focus on digital transformation and the promotion of a digital economy has created opportunities for businesses to expand their eService offerings. In conclusion, the eServices market in Bangladesh has been experiencing significant growth due to changing customer preferences, favorable macroeconomic factors, and local special circumstances. The convenience and efficiency offered by online platforms have made them highly popular among consumers. As the country continues to invest in digital infrastructure and promote digital initiatives, the eServices market is expected to further expand 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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