The eServices market in Bosnia and Herzegovina is experiencing rapid development and growth. Customer preferences are shifting towards online services, and this trend is being driven by several factors.
Customer preferences: Customers in Bosnia and Herzegovina are increasingly turning to eServices for their convenience and efficiency. The younger generation, in particular, is tech-savvy and prefers to access services online. This preference is also influenced by the increasing availability of internet connectivity and the widespread use of smartphones.
Trends in the market: One of the key trends in the eServices market in Bosnia and Herzegovina is the rise of e-commerce. Online shopping has become increasingly popular, with consumers enjoying the convenience of browsing and purchasing 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 seek to minimize physical contact. Another trend in the eServices market is the growth of online banking and financial services. Customers are now able to perform a wide range of banking transactions online, including transferring funds, paying bills, and applying for loans. This shift towards online banking is driven by the desire for convenience and the increasing trust in online security measures.
Local special circumstances: Bosnia and Herzegovina has a relatively high internet penetration rate, with a significant portion of the population having access to the internet. This has created a favorable environment for the growth of the eServices market, as more people are able to access and utilize online services. Furthermore, the government of Bosnia and Herzegovina has been actively promoting the development of the digital economy. Initiatives such as the Digital Transformation Strategy and the establishment of digital innovation hubs have created a supportive ecosystem for eServices providers. These efforts have also helped to increase awareness and adoption of online services among the population.
Underlying macroeconomic factors: The eServices market in Bosnia and Herzegovina is also influenced by broader macroeconomic factors. The country has experienced steady economic growth in recent years, which has contributed to an increase in disposable income. As a result, consumers have more purchasing power and are more willing to spend on online services. Additionally, the COVID-19 pandemic has accelerated the adoption of eServices in Bosnia and Herzegovina. Lockdown measures and social distancing restrictions have limited physical interactions, leading to an increased reliance on online platforms for various services. This has further fueled the growth of the eServices market in the country. In conclusion, the eServices market in Bosnia and Herzegovina is witnessing significant growth and development. Customer preferences are shifting towards online services, driven by convenience, increasing internet penetration, and government initiatives. The rise of e-commerce and online banking are key trends in the market, while the COVID-19 pandemic has further accelerated the adoption of eServices.
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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