The eServices market in Slovakia is experiencing significant growth and development.
Customer preferences: Customers in Slovakia are increasingly turning to eServices for their convenience and efficiency. With the advancement of technology and the increasing availability of internet access, customers are now able to access a wide range of services online. This includes services such as online shopping, banking, booking travel tickets, and even accessing government services. The convenience of being able to access these services from the comfort of their own homes, at any time of the day, is a major factor driving the growth of the eServices market in Slovakia.
Trends in the market: One of the key trends in the eServices market in Slovakia is the rise of e-commerce. Online shopping has become increasingly popular among Slovakian consumers, with more and more people choosing to purchase products online rather than in physical stores. This trend is driven by factors such as the wide range of products available online, competitive pricing, and the convenience of home delivery. Additionally, the COVID-19 pandemic has further accelerated the growth of e-commerce, as people have been encouraged to stay at home and avoid crowded places. Another trend in the eServices market in Slovakia is the increasing adoption of online banking and financial services. Customers are now able to perform a wide range of banking transactions online, including transferring money, paying bills, and managing their accounts. This trend is driven by the convenience and accessibility of online banking, as well as the increasing trust in online security measures.
Local special circumstances: Slovakia has a relatively high internet penetration rate, with a large portion of the population having access to the internet. This has created a favorable environment for the growth of the eServices market in the country. Additionally, the government of Slovakia has recognized the importance of digitalization and has implemented various initiatives to promote the development of eServices. This includes the introduction of e-government services, which allow citizens to access government services online, such as applying for identity cards or filing tax returns.
Underlying macroeconomic factors: The growth of the eServices market in Slovakia is also influenced by underlying macroeconomic factors. The country has a stable economy and a relatively high GDP per capita, which means that consumers have the purchasing power to access eServices. Additionally, Slovakia is part of the European Union, which has implemented various regulations and initiatives to promote the development of the digital economy. This includes the Digital Single Market strategy, which aims to remove barriers to the digital economy and promote the growth of eServices across Europe. These macroeconomic factors provide a favorable environment for the development of the eServices market in Slovakia.
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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