Platform Delivery - Cyprus

Cyprus

Highlights

The Platform Delivery market in Cyprus is projected to reach a revenue of US$2.67m by 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 8.94%, resulting in a projected market volume of US$4.10m by 2029.
Furthermore, the number of users in the Platform Delivery market is projected to reach 94.2k users by 2029.
The user penetration rate, which is currently at 4.9% in 2024, is expected to increase to 7.2% by 2029.
The average revenue per user (ARPU) is anticipated to amount to US$42.99.
In comparison to other countries, China is expected to generate the most revenue in the Platform Delivery market, with an estimated revenue of US$166.80bn in 2024.
Additionally, China holds the highest user penetration rate in the Platform Delivery market, projected to be 52.8%.
Cyprus is experiencing a growing trend in platform delivery services, with a focus on efficiency and convenience.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Platform Delivery market in Cyprus has been experiencing steady growth in recent years.

Customer preferences: With the rise of e-commerce and the increasing demand for convenience, customers in Cyprus are increasingly turning to Platform Delivery services to have their purchases delivered directly to their doorstep. This trend is particularly evident among younger generations who are more tech-savvy and comfortable with using mobile apps and online platforms to order goods and services.

Trends in the market: One of the key trends in the Platform Delivery market in Cyprus is the increasing competition among service providers. As more players enter the market, customers are benefiting from greater choice and more competitive pricing. In addition, there is a growing trend towards the use of electric vehicles for delivery, which is seen as a more environmentally friendly and sustainable option.

Local special circumstances: Cyprus is a small island nation with a relatively small population, which presents both opportunities and challenges for Platform Delivery providers. On the one hand, the small size of the country means that delivery distances are relatively short, which can help to reduce costs and increase efficiency. On the other hand, the relatively small market size means that there is limited room for growth, which can make it difficult for new entrants to establish themselves.

Underlying macroeconomic factors: The growth of the Platform Delivery market in Cyprus is closely tied to broader macroeconomic trends, such as the increasing popularity of e-commerce and the growing importance of the service sector in the economy. In addition, the government has been actively promoting the development of the digital economy, which has helped to create a favorable environment for Platform Delivery providers. Overall, the Platform Delivery market in Cyprus is expected to continue to grow in the coming years, driven by changing customer preferences and broader macroeconomic trends.

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. 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.