Platform Delivery - Jamaica

Jamaica

Highlights

The Platform Delivery market in Jamaica is projected to reach a revenue of US$692.90k by 2024.
It is expected to grow at an annual rate of 9.78% (CAGR 2024-2029), resulting in a market volume of US$1.10m by 2029.
The number of users in the Platform Delivery market is also expected to increase, reaching 85.5k users by 2029.
The user penetration rate, which is currently at 2.0% in 2024, is projected to reach 3.0% by 2029.
The average revenue per user (ARPU) is estimated to be US$12.57.
In comparison to other countries, China is expected to generate the highest revenue in the Platform Delivery market, reaching US$166.80bn in 2024.
Furthermore, China has the highest projected user penetration rate of 52.8% in the Platform Delivery market.
Jamaica's platform delivery market is experiencing a surge in demand, fueled by the country's growing e-commerce sector and increasing reliance on online services.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Platform Delivery market in Jamaica has experienced significant growth in recent years, driven by changing consumer preferences and local special circumstances.

Customer preferences: Consumers in Jamaica have increasingly turned to online platforms for their shopping needs, due to the convenience and ease of use offered by these platforms. This has led to a surge in demand for platform delivery services, as consumers seek faster and more efficient delivery of their purchases. Additionally, the COVID-19 pandemic has accelerated the shift towards online shopping, as consumers have been forced to stay at home and avoid in-person shopping.

Trends in the market: One of the key trends in the Platform Delivery market in Jamaica is the emergence of local players, who are competing with global giants such as Amazon and UberEats. These local players are able to offer more tailored services to Jamaican consumers, and are often better equipped to navigate the unique challenges of the Jamaican market. Another trend is the increasing use of technology to improve the delivery process, such as the use of drones and other autonomous vehicles.

Local special circumstances: Jamaica's geography and infrastructure present unique challenges for the Platform Delivery market. The country's mountainous terrain and poor road network can make delivery difficult and expensive, particularly in rural areas. Additionally, Jamaica's high crime rate can make it difficult for delivery drivers to operate safely in certain areas. These challenges have led to the emergence of specialized delivery services in Jamaica, such as motorcycle couriers and "hand-to-hand" delivery.

Underlying macroeconomic factors: Jamaica's economy has been growing steadily in recent years, driven by strong performances in the tourism and construction sectors. This has led to an increase in disposable income for Jamaican consumers, which in turn has fueled demand for online shopping and platform delivery services. Additionally, the Jamaican government has implemented a number of initiatives to support the growth of the digital economy, such as the establishment of a national broadband network and the development of a national e-commerce strategy.

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.