The eServices market in Iraq has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: In line with global trends, customers in Iraq are increasingly turning to eServices for convenience and efficiency. With the rapid proliferation of smartphones and internet connectivity, consumers are embracing digital platforms for a wide range of services, including e-commerce, online banking, and digital entertainment. This shift in customer preferences is fueled by the desire for instant access to products and services, as well as the convenience of conducting transactions from the comfort of their homes.
Trends in the market: One notable trend in the eServices market in Iraq is the rise of online shopping. As more retailers establish their online presence and offer reliable delivery services, consumers are embracing the convenience of shopping from their smartphones or computers. This trend is further accelerated by the COVID-19 pandemic, which has led to increased adoption of online shopping as a safer alternative to physical stores. Another emerging trend in the market is the growth of digital financial services. With a large unbanked population in Iraq, digital banking and mobile payment solutions are gaining traction as convenient and accessible alternatives to traditional banking services. This trend is supported by the government's efforts to promote financial inclusion and the development of a digital economy.
Local special circumstances: Iraq has a young and tech-savvy population, with a high percentage of smartphone users. This demographic factor contributes to the rapid adoption of eServices in the country. Additionally, the government has been actively promoting digital transformation and investing in infrastructure to improve internet connectivity and expand access to digital services. These efforts create a favorable environment for the growth of the eServices market in Iraq.
Underlying macroeconomic factors: The eServices market in Iraq is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has increased disposable income and purchasing power. This economic stability provides a conducive environment for the growth of e-commerce and other digital services. Furthermore, the COVID-19 pandemic has accelerated the digital transformation in Iraq, as businesses and consumers adapt to the new normal. The lockdown measures and social distancing restrictions have forced many businesses to shift their operations online, leading to increased demand for eServices. In conclusion, the eServices market in Iraq is witnessing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The convenience and efficiency offered by digital platforms, coupled with government support and favorable economic conditions, are driving the adoption of eServices in the country. As Iraq continues to invest in digital infrastructure and promote digital transformation, 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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