Platform Delivery - Panama

Panama

Highlights

The Platform Delivery market in Panama is projected to reach a revenue of US$3.60m in 2024.
This is expected to show an annual growth rate (CAGR 2024-2029) of 3.2%, resulting in a projected market volume of US$7.35m by 2029.
In Panama's Platform Delivery market, the number of users is expected to reach 263.6k users by 2029.
The user penetration rate is estimated to be 3.2% in 2024 and is projected to increase to 5.5% by 2029.
The average revenue per user (ARPU) is expected to amount to US$24.60.
In a global comparison, China is anticipated to generate the highest revenue in the Platform Delivery market, with US$166.80bn in 2024.
China also has the highest projected user penetration rate of 52.8%.
Panama's platform delivery market is flourishing, driven by the country's strategic location for global logistics and its growing e-commerce industry.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Platform Delivery market in Panama has been experiencing significant growth in recent years.

Customer preferences: Panama is a young and tech-savvy country where consumers are increasingly relying on technology for their daily needs. As a result, there is a growing demand for platform delivery services in the country. Consumers are looking for convenience and speed when it comes to food and grocery delivery, and platform delivery services are meeting this demand.

Trends in the market: One of the key trends in the platform delivery market in Panama is the entry of new players. Several international platform delivery companies have entered the market in recent years, leading to increased competition. This has resulted in improved services and lower prices for consumers. Another trend is the expansion of platform delivery services beyond food and grocery delivery. Many companies are now offering delivery services for a wide range of products, including electronics, clothing, and household items.

Local special circumstances: Panama's unique geography has presented challenges for platform delivery companies. The country's narrow streets and congested traffic can make it difficult for delivery drivers to navigate. Additionally, the country's rainy season can cause delays and disruptions to delivery schedules. However, many platform delivery companies have adapted to these challenges by investing in technology and logistics to optimize their operations.

Underlying macroeconomic factors: Panama's strong economic growth and increasing urbanization have contributed to the growth of the platform delivery market. The country's growing middle class has more disposable income and is willing to pay for convenience. Additionally, the COVID-19 pandemic has accelerated the adoption of platform delivery services as more consumers are staying at home and relying on delivery for their daily needs. As a result, the platform delivery market in Panama is expected to continue its growth trajectory 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. 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.