The eServices market in Benin is experiencing significant growth and development, driven by several key factors.
Customer preferences: Customers in Benin are increasingly embracing eServices for their convenience and efficiency. With the rapid advancement of technology, customers are looking for ways to simplify their daily tasks and save time. eServices provide a convenient platform for accessing various services, such as online shopping, banking, and government services, from the comfort of their homes or offices. Additionally, the younger generation, which is more tech-savvy, is driving the demand for eServices as they are more comfortable using digital platforms for their daily activities.
Trends in the market: One of the key trends in the eServices market in Benin is the growth of e-commerce. Online shopping is gaining popularity among consumers, with an increasing number of retailers and marketplaces offering their products and services online. This trend is driven by the convenience of shopping from home, a wider range of products available online, and the ability to compare prices and read reviews before making a purchase. The e-commerce sector is also benefiting from the growing penetration of smartphones and the expansion of internet connectivity in the country. Another trend in the eServices market is the digitalization of government services. The Beninese government has been actively promoting the digitization of public services to improve efficiency and transparency. This includes services such as online tax filing, e-governance platforms, and digital identity verification. The digitization of government services not only improves the convenience for citizens but also reduces administrative burdens and enhances accountability.
Local special circumstances: One of the unique circumstances in Benin is the high mobile penetration rate. Mobile phones are widely used in the country, even in rural areas. This presents a significant opportunity for the growth of mobile-based eServices, such as mobile banking, mobile payments, and mobile-based applications. The accessibility of mobile phones makes it easier for customers to access eServices, even in areas with limited internet connectivity.
Underlying macroeconomic factors: The eServices market in Benin 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. As consumers have more purchasing power, they are more likely to adopt eServices for their convenience and efficiency. Additionally, the government's focus on digital transformation and the development of the digital economy has created a favorable environment for the growth of eServices in the country. In conclusion, the eServices market in Benin is witnessing significant growth and development, driven by customer preferences for convenience and efficiency. The growth of e-commerce, the digitalization of government services, the high mobile penetration rate, and favorable macroeconomic factors are all contributing to the expansion of the eServices market in Benin. As technology continues to advance and internet connectivity improves, the eServices market is expected to further thrive 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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