The eServices market in Malta has experienced significant growth in recent years, driven by changing customer preferences and advancements in technology.
Customer preferences: Customers in Malta are increasingly seeking convenience and efficiency in their daily lives, which has led to a growing demand for eServices. With the rise of smartphones and internet penetration, consumers are now able to access a wide range of services online, from shopping to banking to entertainment. This shift in customer behavior has created opportunities for businesses to offer their services digitally, allowing customers to access them anytime and anywhere.
Trends in the market: One of the key trends in the eServices market in Malta is the growth of e-commerce. Online shopping has become increasingly popular among Maltese consumers, who are now able to browse and purchase products from both local and international retailers with ease. This trend has been supported by the development of secure online payment systems and the availability of reliable delivery services. As a result, businesses in Malta have been expanding their online presence and investing in e-commerce platforms to cater to the growing demand. Another significant trend in the eServices market is the adoption of digital banking services. Traditional brick-and-mortar banks are facing competition from digital-only banks and fintech companies, which offer convenient and user-friendly banking solutions. Customers in Malta are increasingly embracing digital banking services due to their accessibility, lower fees, and innovative features such as mobile banking apps and instant money transfers. This trend is expected to continue as more customers become comfortable with managing their finances online.
Local special circumstances: The small size of Malta and its high population density have contributed to the rapid adoption of eServices. With limited physical space and a large number of residents, traditional service providers such as banks and government agencies have faced challenges in serving customers efficiently. This has created an opportunity for eServices to fill the gap and provide convenient and streamlined solutions. Additionally, the government of Malta has been actively promoting the use of eServices, recognizing the potential benefits in terms of efficiency, cost savings, and improved customer experience.
Underlying macroeconomic factors: The strong economic growth and high internet penetration rate in Malta have been key drivers of the eServices market. As the economy has expanded, more businesses have invested in digital infrastructure and technologies to meet the growing demand for eServices. Furthermore, the government has implemented policies to support the development of the digital economy, including the establishment of innovation hubs and the provision of financial incentives for tech startups. These factors have created a favorable environment for the growth of the eServices market in Malta. In conclusion, the eServices market in Malta has experienced significant growth due to changing customer preferences, advancements in technology, and supportive macroeconomic factors. As customers increasingly seek convenience and efficiency in their daily lives, businesses in Malta have responded by offering a wide range of eServices, from e-commerce to digital banking. The small size of the country and the government's support for digital transformation have further accelerated the adoption of eServices. With the continued growth of the digital economy, the eServices market in Malta is expected to expand further 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.
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)
