Platform Delivery - Sri Lanka

Sri Lanka

Highlights

The revenue in the Platform Delivery market of Sri Lanka is projected to reach US$10.51m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 10.16%, resulting in a projected market volume of US$17.05m by 2029.
Furthermore, the number of users in the Sri Lankan Platform Delivery market is expected to amount to 1.4m users by 2029.
The user penetration is projected to be 3.9% in 2024 and is expected to increase to 6.1% by 2029.
The average revenue per user (ARPU) is projected to amount to US$12.21.
In global comparison, China is expected to generate the highest revenue in the Platform Delivery market with US$166.80bn in 2024.
Additionally, China has the highest user penetration rate in the Platform Delivery market, projected to be 52.8%.
Sri Lanka is experiencing a surge in platform delivery services, with increased demand for convenience and contactless delivery options.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for Platform Delivery services has been growing at a steady pace in Sri Lanka. This growth can be attributed to various factors such as changing customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In Sri Lanka, the increasing adoption of e-commerce platforms has led to a surge in demand for Platform Delivery services. Customers are increasingly looking for convenience and quick delivery times, and Platform Delivery services have emerged as a viable solution to meet these demands. Additionally, the COVID-19 pandemic has accelerated the shift towards online shopping, further boosting the demand for Platform Delivery services.

Trends in the market: One of the key trends in the Platform Delivery market in Sri Lanka is the emergence of new players in the market. The market is becoming increasingly competitive, with new players entering the market to capitalize on the growing demand for Platform Delivery services. This has led to a significant increase in the number of service providers, resulting in greater choice for customers.Another trend in the market is the increasing use of technology to improve delivery efficiency. Many service providers are leveraging technology such as GPS tracking and automated dispatch systems to optimize delivery routes and reduce delivery times. This has helped service providers to improve their delivery capabilities and provide a better customer experience.

Local special circumstances: Sri Lanka's island geography presents unique challenges for the Platform Delivery market. The country's road network is not well-developed, and this can make it difficult for service providers to deliver goods quickly and efficiently. Additionally, Sri Lanka's tropical climate can also pose challenges for delivery, particularly during the rainy season.

Underlying macroeconomic factors: Sri Lanka's growing economy has had a positive impact on the Platform Delivery market. The country's GDP has been growing steadily, and this has led to an increase in disposable income levels. As a result, consumers are increasingly willing to spend money on convenience services such as Platform Delivery. Additionally, Sri Lanka's strategic location in South Asia has made it an attractive destination for international e-commerce companies looking to expand their operations in the region. This has further boosted the demand for Platform Delivery services in the country.

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.