Market Insights eCommerce Online Food Delivery Meal Delivery

Platform Delivery - Iceland

Iceland

The Platform Delivery market in Iceland is projected to reach a revenue of US$4.24m in 2024.
This revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.60%, resulting in a projected market volume of US$4.59m by 2029.
Additionally, the number of users in the Platform Delivery market is expected to amount to 40.1k users by 2029.
In Iceland, the user penetration is projected to be 9.8% in 2024 and is expected to increase to 10.3% by 2029.
Moreover, the average revenue per user (ARPU) is expected to be US$114.50.
In global comparison, China is anticipated to generate the most revenue in the Platform Delivery market, reaching US$165,200.00m in 2024.
Furthermore, China is expected to have the highest user penetration rate in the Platform Delivery market, with a projected rate of 52.8%.
Iceland's platform delivery market is thriving, with a strong emphasis on efficient and sustainable logistics solutions to meet the unique challenges of the country's rugged terrain and remote locations.

Market

Region

Region comparison

Currency

Analyst Opinion

The Platform Delivery market in Iceland has been growing steadily in recent years, driven by a combination of customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In line with global trends, customers in Iceland are increasingly looking for convenient, fast, and reliable delivery options for their online purchases. This has led to a rise in demand for platform delivery services, which offer a range of delivery options and can often provide faster and more flexible delivery than traditional postal services.

Trends in the market: One trend that has emerged in the Platform Delivery market in Iceland is the rise of local delivery startups, which are offering innovative and tailored delivery solutions to customers. These companies are often able to provide faster and more flexible delivery options than larger, more established players, and are also able to cater to niche markets and specific customer needs.Another trend in the market is the increasing importance of sustainability and environmental concerns. Customers in Iceland are increasingly looking for delivery options that are environmentally friendly, and many platform delivery companies are responding by offering more sustainable delivery options, such as electric vehicles and bike couriers.

Local special circumstances: One of the key factors driving the growth of the Platform Delivery market in Iceland is the country's unique geography and population distribution. With a relatively small population spread out over a large area, traditional postal services can struggle to provide fast and reliable delivery to all areas of the country. Platform delivery services, on the other hand, are often able to provide more efficient and cost-effective delivery solutions, particularly in more remote areas.

Underlying macroeconomic factors: The growth of the Platform Delivery market in Iceland is also being driven by broader macroeconomic factors, such as the increasing digitization of the economy and the rise of e-commerce. As more and more businesses move online, the demand for efficient and reliable delivery services is only set to increase. Additionally, the COVID-19 pandemic has accelerated the shift towards online shopping and home delivery, further boosting demand for platform delivery services.Overall, the Platform Delivery market in Iceland is set to continue its growth trajectory in the coming years, driven by a combination of customer preferences, local special circumstances, and underlying macroeconomic factors. As the market evolves, we can expect to see continued innovation and competition, as well as a growing focus on sustainability and environmental concerns.

Methodology

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.