The eServices market in Saudi Arabia has been experiencing significant growth in recent years. Customer preferences have shifted towards digital solutions, leading to an increased demand for eServices across various sectors. This trend can be attributed to several factors, including the convenience and efficiency offered by digital platforms, as well as the government's efforts to promote digitalization and improve access to online services.
Customer preferences: Saudi Arabian customers have shown a growing preference for eServices due to their convenience and efficiency. With the increasing penetration of smartphones and internet connectivity, customers are increasingly relying on digital platforms for their daily needs. This includes services such as online shopping, food delivery, ride-hailing, and online banking. The ease of use and accessibility of these services have made them popular among consumers, who appreciate the convenience of accessing services from the comfort of their homes or on the go.
Trends in the market: The eServices market in Saudi Arabia has witnessed several key trends in recent years. One notable trend is the rapid growth of e-commerce. Online shopping platforms have gained popularity among consumers, who now have access to a wide range of products and services at their fingertips. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increased reliance on online shopping due to social distancing measures and lockdowns. Another significant trend in the eServices market is the rise of food delivery services. Saudi Arabian consumers have embraced online food delivery platforms, which offer a wide variety of cuisines and the convenience of doorstep delivery. This trend has been fueled by the increasing urbanization and changing lifestyles, where people are seeking convenient and time-saving solutions for their daily meals.
Local special circumstances: Saudi Arabia has a young and tech-savvy population, which has played a crucial role in driving the growth of the eServices market. The country has one of the highest smartphone penetration rates in the Middle East, with a large percentage of the population actively using mobile apps for various purposes. This tech-savvy population has been quick to adopt eServices and has contributed to the rapid growth of the market.
Underlying macroeconomic factors: The Saudi Arabian government has been actively promoting digitalization and eServices as part of its Vision 2030 initiative. This initiative aims to diversify the country's economy and reduce its dependence on oil by promoting sectors such as technology and innovation. As part of this vision, the government has implemented various reforms and initiatives to support the growth of the eServices market. This includes the establishment of regulatory frameworks, the development of digital infrastructure, and the promotion of entrepreneurship and innovation. In conclusion, the eServices market in Saudi Arabia has been experiencing significant growth due to changing customer preferences, government initiatives, and underlying macroeconomic factors. The convenience and efficiency offered by digital platforms have made eServices popular among consumers, leading to the rapid growth of sectors such as e-commerce and food delivery. With the government's continued support and the increasing adoption of digital technologies, the eServices market in Saudi Arabia is expected to continue its upward trajectory 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)
