Market Insights Technology Software Enterprise Software

eCommerce Software - Bosnia and Herzegovina

Bosnia and Herzegovina

Revenue in the eCommerce Software market is projected to reach US$2.04m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.53%, resulting in a market volume of US$2.53m by 2028.
The average Spend per Employee in the eCommerce Software market is projected to reach US$1.61 in 2024.
In global comparison, most revenue will be generated in the United States (US$4,127.00m in 2024).

Key regions: United States, Japan, Germany, Australia, France

Market

Region

Region comparison

Currency

Analyst Opinion

The eCommerce Software market in Bosnia and Herzegovina is experiencing significant growth in recent years, driven by the increasing adoption of digital technologies and changing consumer behavior.

Customer preferences: Bosnian consumers are increasingly turning to online shopping, with the convenience and accessibility of eCommerce platforms being major drivers of this trend. In particular, younger generations are more likely to shop online, with mobile devices becoming the preferred method of accessing eCommerce platforms.

Trends in the market: The eCommerce Software market in Bosnia and Herzegovina is becoming increasingly competitive, with a growing number of domestic and international players entering the market. As a result, there is a greater focus on innovation and differentiation, with companies offering more personalized and tailored experiences to customers.

Local special circumstances: Bosnia and Herzegovina is a relatively small market, which presents both challenges and opportunities for eCommerce companies. On the one hand, the limited size of the market means that companies need to be highly targeted in their approach. On the other hand, the relatively low level of competition means that there is significant potential for growth and expansion.

Underlying macroeconomic factors: The growth of the eCommerce Software market in Bosnia and Herzegovina is being driven by a number of macroeconomic factors, including the increasing availability of high-speed internet and mobile devices, as well as rising levels of disposable income. Additionally, the country's relatively low labor costs and favorable business environment are attracting a growing number of eCommerce companies to the market.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.