eServices

The projected revenue in the eServices market in Nigeria is set to reach US$2.99bn in 2024.
It is expected to experience an annual growth rate (CAGR 2024-2029) of 15.00%, resulting in a projected market volume of US$6.02bn by 2029.
In the 0.0 market, a revenue growth of 0.0 is anticipated in 2025.0.
The 0.0 market in Nigeria is projected to reach a market volume of 0.0 in 2024.
When compared globally, China is expected to generate the highest revenue, amounting to US$495.50bn in 2024.
The average revenue per user (ARPU) in the 0.0 market in Nigeria is projected to amount to 0.0 in 2024.
Meanwhile, the number of users in the 0.0 market is expected to reach 0.0 by 2029.
As for user penetration in the 0.0 market, it is set to be at 0.0 in Nigeria in 2024.
Nigeria's eServices market is experiencing rapid growth due to increasing internet penetration and a tech-savvy population.

Definition:

eServices refer to the delivery of services through electronic means, typically via the internet. eServices offer the convenience of conducting transactions and accessing information online and have become increasingly popular in recent years due to the growth of internet accessibility and the increasing use of digital devices. The eServices market continues to expand as consumers seek efficient and convenient ways to access and purchase various services.

The definition of eServices does not include media content acquired online (see: Digital Media) or the online sale of physical goods (see: eCommerce). Furthermore, no business-to-business segments are included, and neither are revenues from software downloads and services, or price/product comparison site commission fees.

Structure:

eServices includes the event ticketing market, which covers the sale of tickets for sporting events, music concerts, and cinema showings. The dating services market includes online dating platforms, matchmaking services, and casual dating sites. The online education market encompasses the provision of university education, online learning platforms, and professional certification programs. Lastly, the online gambling market which covers online sports betting, online casinos, and online lotteries.

Additional Information

Data includes revenue figures in Gross Merchandise Value (GMV), Users, average revenue per user (ARPU), and user penetration rate. User and revenue figures represent B2C services.

Online booked and digitally issued event tickets for sports events, music events, and cinemas such as Ticketmaster, StubHub, or CTS eventim
Online dating services, including matchmaking, online dating, and casual datings such as Tinder, Bumble, or Badoo
Online Education, including universities, platforms and professional certificates such as Udem, Coursera, or EdX

Offline booking by telephone or through agencies
Online ticket reservations without direct checkout process

The eServices market in Nigeria is experiencing significant growth and development, driven by increasing customer preferences for convenience and efficiency in accessing services. This trend is supported by local special circumstances and underlying macroeconomic factors that are conducive to the growth of the eServices market. Customer preferences in Nigeria are shifting towards digital platforms and online services. With a growing tech-savvy population and increasing smartphone penetration, customers are seeking convenient and efficient ways to access services. This includes online shopping, food delivery, ride-hailing, and digital financial services. The convenience of accessing these services from the comfort of their homes or on-the-go is a major driver of the eServices market in Nigeria. Trends in the eServices market in Nigeria are closely aligned with global and regional trends. The rise of e-commerce platforms and online marketplaces has transformed the retail landscape, allowing customers to shop for a wide range of products and have them delivered to their doorstep. Similarly, the popularity of ride-hailing services has revolutionized the transportation industry, providing customers with a convenient and reliable way to get around. These trends are evident in Nigeria, where e-commerce platforms and ride-hailing services have gained significant traction. Local special circumstances in Nigeria contribute to the growth of the eServices market. The country has a large youth population, which is more inclined towards adopting digital technologies and embracing online services. Additionally, the urbanization rate in Nigeria is increasing, leading to higher demand for services that can be accessed digitally. The combination of a young population and urbanization creates a favorable environment for the development of the eServices market in Nigeria. Underlying macroeconomic factors also play a role in the growth of the eServices market in Nigeria. The country has witnessed steady economic growth in recent years, which has resulted in an expanding middle class with higher disposable incomes. This has led to increased consumer spending and a greater demand for convenient and efficient services. Furthermore, the government of Nigeria has been supportive of the digital economy, implementing policies and initiatives to promote e-commerce and digital services. These factors contribute to the overall growth and development of the eServices market in Nigeria. In conclusion, the eServices market in Nigeria is witnessing significant growth and development, driven by customer preferences for convenience and efficiency. The rise of digital platforms and online services is transforming various industries, including retail, transportation, and financial services. Local special circumstances, such as a young population and urbanization, further contribute to the growth of the eServices market. Additionally, underlying macroeconomic factors, such as economic growth and government support, create a conducive environment for the development of the eServices market in Nigeria.

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.

This report presents a comprehensive analysis and additional information on the Ecommerce market, in a PDF format.