The eServices market in Uganda is experiencing significant growth and development, driven by various factors such as increasing internet penetration, rising smartphone adoption, and a growing tech-savvy population.
Customer preferences: In Uganda, customers are increasingly embracing eServices as they offer convenience, efficiency, and cost savings. With the advent of mobile money platforms such as MTN Mobile Money and Airtel Money, customers are now able to access a wide range of eServices such as mobile banking, bill payments, and online shopping. The convenience of being able to access these services from the comfort of their homes or on the go has made eServices highly popular among Ugandan consumers.
Trends in the market: One major trend in the eServices market in Uganda is the rapid growth of e-commerce. Online shopping platforms such as Jumia and Kilimall have gained popularity among Ugandan consumers, offering a wide range of products and services at competitive prices. This trend is fueled by the increasing availability of internet connectivity and the growing trust in online transactions. Another trend in the market is the rise of digital financial services. Mobile money platforms have become a common means of conducting financial transactions in Uganda, with users able to send and receive money, pay bills, and even access credit services. This trend is driven by the convenience and accessibility of mobile money services, particularly in areas where traditional banking services are limited.
Local special circumstances: Uganda has a young and tech-savvy population, which contributes to the growth of the eServices market. The country has a high youth population, with a significant percentage being digitally literate and embracing technology. This demographic factor creates a conducive environment for the adoption of eServices and drives the demand for digital solutions.
Underlying macroeconomic factors: Uganda's economy has been growing steadily over the years, with a positive GDP growth rate. This economic growth has led to increased disposable income and improved living standards, which in turn drives the demand for eServices. As more Ugandans have access to smartphones and the internet, they are able to engage in eServices and take advantage of the benefits they offer. Furthermore, the government of Uganda has been supportive of the digital economy and has implemented policies and initiatives to promote the growth of the eServices sector. This includes investments in infrastructure development, such as the National Backbone Infrastructure (NBI), which aims to provide high-speed internet connectivity across the country. These initiatives create an enabling environment for the eServices market to thrive. In conclusion, the eServices market in Uganda is experiencing significant growth and development, driven by increasing internet penetration, rising smartphone adoption, and a tech-savvy population. Customers in Uganda are embracing eServices for their convenience and efficiency. The market is witnessing trends such as the growth of e-commerce and digital financial services. Uganda's young and tech-savvy population, coupled with the government's support for the digital economy, are key factors contributing 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.
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