The eServices market in Brazil has been experiencing significant growth in recent years, driven by the increasing adoption of digital technologies and the growing demand for online services.
Customer preferences: Brazilian consumers are increasingly turning to eServices for their convenience and accessibility. With the rise of smartphones and internet penetration, customers are now able to access a wide range of services at their fingertips. This has led to a shift in customer preferences towards online platforms for various services such as e-commerce, online banking, food delivery, and ride-hailing.
Trends in the market: One of the key trends in the eServices market in Brazil is the rapid growth of e-commerce. With the convenience of online shopping and the availability of a wide range of products, more and more consumers are opting to make their purchases online. This trend is further fueled by the increasing number of online marketplaces and the expansion of logistics networks, which have made it easier for businesses to sell their products online and deliver them to customers across the country. Another trend in the market is the rise of digital banking and financial services. Brazil has seen a significant increase in the number of people using digital banking platforms and mobile payment solutions. This trend is driven by the convenience and ease of use of these services, as well as the increasing trust in online security measures. As a result, traditional brick-and-mortar banks are facing increasing competition from digital-only banks and fintech companies.
Local special circumstances: Brazil has a large population and a growing middle class, which provides a significant consumer base for eServices. Additionally, the country has a relatively young population, with a high percentage of internet users and smartphone owners. This makes Brazil an attractive market for eService providers, as there is a large potential customer base that is already digitally savvy.
Underlying macroeconomic factors: The growth of the eServices market in Brazil is also influenced by underlying macroeconomic factors. The country has been experiencing economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has created a favorable environment for the adoption of eServices, as consumers have more purchasing power and are more willing to spend on online services. Furthermore, the COVID-19 pandemic has accelerated the adoption of eServices in Brazil. With lockdown measures and social distancing restrictions in place, consumers have turned to online platforms for their shopping, banking, and other service needs. This has further boosted the growth of the eServices market in the country. In conclusion, the eServices market in Brazil is experiencing significant growth due to customer preferences for convenience and accessibility, as well as the increasing adoption of digital technologies. The rise of e-commerce and digital banking are key trends in the market, driven by the convenience and ease of use of these services. Brazil's large population, growing middle class, and favorable macroeconomic factors contribute to the growth of the eServices market 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 segment. 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)
