The eServices market in Central America is experiencing significant growth and development.
Customer preferences: Customers in Central America are increasingly embracing eServices due to their convenience and accessibility. With the rapid advancement of technology, customers are now able to access a wide range of services online, from shopping to banking to entertainment. This shift in customer preferences is driven by the desire for convenience and time-saving solutions. Additionally, the younger generation, which is more tech-savvy, is also a key driver of the growing demand for eServices.
Trends in the market: One of the major trends in the eServices market in Central America is the rise of e-commerce. Online shopping has become increasingly popular, with more and more customers opting to make purchases online rather than visiting physical stores. This trend is driven by factors such as the availability of a wider range of products, competitive pricing, and the convenience of doorstep delivery. As a result, e-commerce platforms and online retailers are experiencing significant growth in the region. Another trend in the eServices market is the increasing adoption of mobile banking and payment solutions. With the widespread use of smartphones, customers are now able to perform banking transactions and make payments using mobile apps. This trend is driven by the convenience and security offered by mobile banking, as well as the growing acceptance of digital payments in the region. As a result, mobile banking and payment providers are expanding their services and reaching a larger customer base.
Local special circumstances: Central America has a large unbanked population, meaning that a significant portion of the population does not have access to traditional banking services. This presents a unique opportunity for eServices providers to tap into this underserved market. By offering innovative solutions such as mobile banking and digital wallets, eServices providers can reach a wider customer base and provide financial services to those who previously had limited access.
Underlying macroeconomic factors: The growing eServices market in Central America is also influenced by underlying macroeconomic factors. The region has seen steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has created a favorable environment for the development of the eServices market, as customers have more purchasing power and are willing to spend on online services. Furthermore, the improving internet infrastructure and connectivity in Central America have also contributed to the growth of the eServices market. As more people gain access to the internet, the potential customer base for eServices providers expands. This, combined with the increasing availability of affordable smartphones, has created a conducive environment for the growth of the eServices market in the region. In conclusion, the eServices market in Central America is experiencing significant growth and development, driven by customer preferences for convenience and accessibility. The rise of e-commerce and mobile banking, as well as the unique opportunity presented by the unbanked population, are key trends in the market. The underlying macroeconomic factors, such as economic growth and improving internet infrastructure, are also contributing to the growth of the eServices market in the region.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
