The eServices market in Zambia has been experiencing significant growth in recent years.
Customer preferences: Zambian consumers are increasingly embracing eServices due to the convenience and efficiency they offer. With the rapid advancement of technology and the increasing availability of internet connectivity, more people in Zambia are gaining access to digital platforms and are becoming comfortable with using eServices for various purposes. This includes online shopping, digital payments, and accessing government services online.
Trends in the market: One of the key trends in the eServices market in Zambia is the rise of e-commerce. Online shopping platforms have gained popularity among consumers who are looking for a wider range of products and the convenience of shopping from their own homes. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increased preference for contactless shopping. As a result, more businesses in Zambia are establishing online presence and expanding their e-commerce capabilities. Another trend in the eServices market is the growth of digital payments. Mobile money services have gained traction in Zambia, with the majority of the population using mobile phones for financial transactions. This has led to the emergence of digital payment platforms that allow users to make payments, transfer money, and even access credit services through their mobile devices. This trend is driven by the convenience and accessibility of digital payments, as well as the increasing number of partnerships between financial institutions and mobile network operators.
Local special circumstances: One of the factors contributing to the growth of the eServices market in Zambia is the government's commitment to digital transformation. The Zambian government has recognized the potential of eServices in improving efficiency, transparency, and accessibility of public services. As a result, they have implemented various initiatives to promote the adoption of eServices, such as the introduction of online platforms for tax filing, business registration, and land registration. These initiatives have not only facilitated the delivery of public services but have also created opportunities for private sector investment in the eServices market.
Underlying macroeconomic factors: Zambia's growing middle class and increasing urbanization are key macroeconomic factors driving the development of the eServices market. As more people move to urban areas and experience rising disposable incomes, there is a greater demand for convenient and efficient services. EServices provide a solution to meet this demand by offering a wide range of services that can be accessed from anywhere with an internet connection. Additionally, the government's investment in improving internet infrastructure and connectivity has also played a significant role in enabling the growth of the eServices market in Zambia. In conclusion, the eServices market in Zambia is experiencing growth due to customer preferences for convenience and efficiency, the rise of e-commerce and digital payments, the government's commitment to digital transformation, and underlying macroeconomic factors such as a growing middle class and increasing urbanization. As technology continues to advance and internet connectivity becomes more accessible, it is expected that the eServices market in Zambia will continue to expand 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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