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The Platform Delivery market in Singapore has been witnessing significant growth in recent years, driven by various factors such as changing customer preferences, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in Singapore are increasingly adopting digital platforms for their day-to-day activities, including food delivery, grocery shopping, and transportation. This shift in consumer behavior has led to a surge in demand for platform delivery services in the country. Customers are looking for convenience, speed, and reliability when it comes to delivery services, which has prompted companies to innovate and offer new services to meet these evolving needs.
Trends in the market: The Platform Delivery market in Singapore is highly competitive, with both local and international players vying for market share. There has been a trend towards consolidation in the market, with larger players acquiring smaller ones to gain a competitive advantage. Companies are also investing heavily in technology to improve their delivery capabilities and enhance the customer experience. Another trend in the market is the emergence of niche delivery services, such as alcohol delivery and pet food delivery, which cater to specific customer needs.
Local special circumstances: Singapore is a small island nation with a high population density, which presents unique challenges for delivery companies. The government has implemented various regulations to manage traffic congestion and reduce carbon emissions, which has a direct impact on the delivery industry. Companies are required to comply with strict regulations related to vehicle emissions and delivery timings, which can affect their operations and profitability.
Underlying macroeconomic factors: The Singaporean economy has been growing steadily in recent years, driven by strong exports and investment. This has led to an increase in consumer spending, which has in turn fueled demand for delivery services. The government has also been supportive of the technology sector, with initiatives such as the Smart Nation program aimed at promoting the adoption of digital technologies across the country. These factors have created a favorable environment for the growth of the Platform Delivery market in Singapore.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)