The eServices market in South Africa has been experiencing significant growth in recent years. This can be attributed to several factors, including customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in South Africa have shifted towards digital services, driven by the increasing adoption of smartphones and internet connectivity. Consumers are increasingly seeking convenience and efficiency in their daily lives, and eServices provide a solution to meet these needs. From online shopping to digital banking, customers are embracing the convenience of accessing services from the comfort of their own homes. Trends in the market also contribute to the development of the eServices market in South Africa. The rise of e-commerce platforms has opened up opportunities for businesses to reach a wider customer base and expand their operations. This has led to increased competition in the market, driving innovation and the development of new eServices. Additionally, the COVID-19 pandemic has accelerated the adoption of eServices, as people turned to online platforms for essential goods and services during lockdowns and social distancing measures. Local special circumstances in South Africa further support the growth of the eServices market. The country has a large population, with a significant portion of the population residing in urban areas. This concentration of population makes it easier for businesses to reach a large customer base and scale their operations. Furthermore, South Africa has a well-developed telecommunications infrastructure, with widespread access to mobile networks and internet connectivity. This infrastructure provides a solid foundation for the expansion of eServices across the country. Underlying macroeconomic factors also play a role in the development of the eServices market in South Africa. The country has a growing middle class with increasing disposable income, which fuels consumer spending and drives demand for eServices. Additionally, South Africa has a young and tech-savvy population, who are early adopters of new technologies and are more likely to embrace eServices. In conclusion, the eServices market in South Africa is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As digitalization continues to advance and consumer expectations evolve, the eServices market in South Africa is expected to further expand and diversify 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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