The eServices market in Guatemala has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Guatemala have shifted towards digital services, with a growing demand for online shopping, digital entertainment, and digital financial services. This shift can be attributed to several factors, including increasing internet penetration rates, improved access to smartphones and other mobile devices, and a younger population that is more tech-savvy. Customers are increasingly looking for convenience, efficiency, and cost-effectiveness, which eServices can provide. Trends in the eServices market in Guatemala reflect global trends, but with some local variations. E-commerce has seen significant growth, with more businesses launching online platforms and consumers embracing online shopping. This trend is driven by factors such as the convenience of online shopping, a wider range of products and services available online, and the ability to compare prices and read reviews before making a purchase. Additionally, the COVID-19 pandemic has accelerated the adoption of e-commerce as people turned to online shopping to meet their needs while adhering to social distancing measures. Digital entertainment is another growing segment in the eServices market in Guatemala. Streaming platforms for movies, TV shows, and music have gained popularity, driven by factors such as increasing smartphone usage, affordable data plans, and a desire for on-demand entertainment. The rise of digital entertainment has also been fueled by the availability of local and international content on these platforms. In terms of digital financial services, Guatemala has seen a surge in mobile banking and digital payment solutions. This trend is driven by a combination of factors, including the convenience of mobile banking, the need for contactless payments during the pandemic, and efforts by the government and financial institutions to promote financial inclusion. Local special circumstances in Guatemala, such as a large informal economy and limited access to traditional banking services in rural areas, have also contributed to the growth of the eServices market. E-services provide opportunities for informal businesses to reach a wider customer base and access financial services. Additionally, the government has been implementing initiatives to promote the use of digital services and improve internet connectivity in rural areas, further driving the adoption of eServices. Underlying macroeconomic factors, such as GDP growth, disposable income levels, and government policies, also play a role in the development of the eServices market in Guatemala. As the economy grows and disposable incomes increase, consumers have more purchasing power to spend on eServices. Government policies and initiatives that promote the digital economy, improve infrastructure, and support entrepreneurship also create an enabling environment for the growth of the eServices market. Overall, the eServices market in Guatemala is experiencing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As technology continues to advance and access to digital services becomes more widespread, the eServices market in Guatemala is expected to further expand 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 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)
