The eServices market in Vietnam has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in Vietnam have shifted towards digitalization and convenience, with an increasing number of consumers opting for online services. This can be attributed to factors such as the rise of smartphone usage, improved internet connectivity, and a growing tech-savvy population. Consumers are now more inclined to use eServices for various activities such as shopping, banking, transportation, and entertainment. Trends in the eServices market in Vietnam indicate a strong focus on mobile applications and platforms. This can be seen in the popularity of e-commerce platforms, ride-hailing apps, and online food delivery services. The convenience and accessibility provided by these mobile applications have contributed to their widespread adoption among Vietnamese consumers. Additionally, the growing popularity of social media platforms has also created opportunities for eServices providers to reach and engage with customers in new ways. Local special circumstances in Vietnam have also played a role in the development of the eServices market. The country has a young and dynamic population, with a high percentage of tech-savvy individuals. This has created a favorable environment for the adoption of eServices, as the younger generation is more open to embracing new technologies and digital solutions. Furthermore, the Vietnamese government has been actively promoting digitalization and e-commerce, which has further accelerated the growth of the eServices market. Underlying macroeconomic factors have also contributed to the growth of the eServices market in Vietnam. The country has experienced rapid economic growth in recent years, leading to an increase in disposable income and consumer spending. This has resulted in a greater demand for convenient and time-saving services, which eServices are able to provide. Additionally, the government's efforts to improve internet infrastructure and expand mobile connectivity have also supported the growth of the eServices market. In conclusion, the eServices market in Vietnam is developing rapidly due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards digitalization and convenience, the focus on mobile applications and platforms, the young and tech-savvy population, and the government's support for digitalization are all contributing to the growth of the eServices market in Vietnam.
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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