eServices - Southern Africa

Southern Africa

The eServices market in Southern Africa is expected to achieve a revenue of US$3,189.00m by the year 2024.
This market is projected to display an annual growth rate (CAGR 2024-2029) of 9.75%, leading to a market volume estimate of US$5,077.00m by 2029.
In 2025, the Online Food Delivery market withSouthern_Africa is anticipated to experience a revenue growth rate of 13.4%.
Furthermore, the Online Food Delivery market in the region is projected to reach a market volume of US$2,661.00m by 2024.
When comparing globally, China is expected to generate the highest revenue, with an estimated US$495.50bn in 2024.
In the Online Food Delivery market, the average revenue per user (ARPU) is projected to be US$121.60 in 2024.
Additionally, the number of users in the Online Food Delivery market is anticipated to reach 29.2m users by 2029.
Lastly, the user penetration rate in the Online Food Delivery market is forecasted to be 31.2% in 2024.
In Southern Africa, the eServices market is experiencing significant growth driven by increased internet penetration and a growing digital economy.

Market

Region

Region comparison

Currency

Analyst Opinion

The eServices market in Southern Africa is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trend. Customer preferences in Southern Africa are increasingly shifting towards digital services. With the widespread adoption of smartphones and internet connectivity, customers are looking for convenient and efficient ways to access various services. This includes e-commerce, online banking, digital entertainment, and online learning. Customers are also demanding personalized and tailored experiences, as well as secure and reliable platforms. Trends in the market reflect the growing demand for eServices in Southern Africa. E-commerce platforms are seeing a surge in popularity, with more and more people choosing to shop online for a wide range of products. This trend is driven by factors such as convenience, competitive pricing, and a wider variety of options. Online banking is also on the rise, as customers seek to manage their finances digitally and avoid physical branches. Furthermore, the demand for digital entertainment, such as streaming services and online gaming, is increasing as people spend more time at home. Local special circumstances in Southern Africa are also contributing to the development of the eServices market. The region has a relatively young population, with a high percentage of tech-savvy millennials and Gen Z individuals. This demographic is more likely to embrace digital technologies and engage with eServices. Additionally, the COVID-19 pandemic has accelerated the adoption of eServices, as people have had to rely on digital platforms for various needs, such as shopping, banking, and entertainment. Underlying macroeconomic factors further support the growth of the eServices market in Southern Africa. The region has witnessed significant improvements in internet infrastructure and connectivity in recent years. This has increased access to digital services and allowed more people to participate in the online economy. Additionally, governments and businesses are investing in digital transformation initiatives, which are driving innovation and creating new opportunities in the eServices sector. Overall, the eServices market in Southern Africa is experiencing rapid growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As more people embrace digital technologies and demand convenient and personalized experiences, the eServices market is expected to continue expanding in the region.

Methodology

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.