The eServices market in Bhutan has witnessed significant growth in recent years, driven by the increasing adoption of digital technologies and the government's efforts to promote a digital economy.
Customer preferences: Customers in Bhutan are increasingly embracing eServices due to their convenience and efficiency. With the rapid expansion of internet connectivity and smartphone penetration in the country, people are becoming more comfortable with using online platforms for various services. This includes online shopping, banking, education, healthcare, and government services. The younger generation, in particular, is driving the demand for eServices as they are more tech-savvy and open to digital solutions.
Trends in the market: One of the key trends in the eServices market in Bhutan is the growth of e-commerce. Online shopping platforms have gained popularity, offering a wide range of products and services to consumers across the country. This trend has been further accelerated by the COVID-19 pandemic, which has led to a surge in online shopping as people prefer to stay home and avoid crowded places. The government has also taken initiatives to promote e-commerce by providing incentives and support to local businesses to establish online platforms. Another significant trend is the digitization of government services. The Bhutanese government has been actively promoting the use of digital platforms for various government services, such as online tax filing, e-governance, and digital payments. This has not only improved the efficiency and transparency of government operations but has also made it easier for citizens to access and avail of government services.
Local special circumstances: Bhutan is a small landlocked country with a scattered population, making it challenging to provide physical infrastructure and services to all parts of the country. The development of eServices has helped overcome these geographical barriers by enabling access to services from anywhere in the country. This has been particularly beneficial for people living in remote areas who previously had limited access to services.
Underlying macroeconomic factors: The growth of the eServices market in Bhutan is also supported by favorable macroeconomic factors. The country has been experiencing steady economic growth, which has led to an increase in disposable income and consumer spending. This, coupled with the government's focus on digital transformation, has created a conducive environment for the development of the eServices sector. In conclusion, the eServices market in Bhutan is witnessing significant growth driven by customer preferences for convenience, the digitization of government services, and favorable macroeconomic factors. The increasing adoption of digital technologies and the government's efforts to promote a digital economy are expected to further drive the growth of the eServices market in Bhutan 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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