The rise of online services
Encompassed in the eServices market are online education, event ticket purchases, online gambling, and dating service segments. Globally, there were approximately two billion eService users that were contributing to the market’s growing revenue, which reached over 295 billion U.S. dollars in 2022. The eServices user base is forecast to reach 2.7 billion by 2027, with revenue growing to nearly 470 billion U.S. dollars. Notably, the United States is the most popular country for eServices users, where the estimated revenue for 2023 was about 130 billion U.S. dollars.Online gambling is the segment that generates the most revenue of all eServices, and also boasts an impressive market size despite some fluctuations over the past decade. Dating services also account for a significant portion of eServices revenue. Platforms such as Bumble, Tinder, and Hinge dominate the global online dating market, and offer users looking for the perfect match a variety of paid features via their mobile apps.
Media and hobby e-commerce
While there are plenty of reasons to purchase things like event tickets, pay for online classes, or subscribe to a dating platform’s exclusive features, there is also nothing quite like enjoying the latest film from one of many online streaming services, paying and playing online games, and enjoying ad-free listening from music service subscriptions. As of 2023, there were over 232 million paying Netflix subscribers, although a number of Netflix users seemed likely to cancel their subscription if the streaming provider begins to charge extra for account sharing.Many consumers seeking entertainment look to TV and movie streaming, but music is also another form of entertainment that is commonly accessed via online transactions. The number of music streaming subscribers globally has reached over 616 million, with users choosing from a wide variety of platforms that include, but are not limited to, Spotify, Apple Music, Deezer, and Anghami. In addition to music, entertainment is also often found by way of hobby-related activities, from skateboarding to more sedentary activities such as video or board games. E-commerce can easily play a role in providing consumers with everything they could need to have a good time. Toys, hobby, and DIY e-commerce is set to reach a revenue of over 1 trillion U.S. dollars by 2026. Additionally, in 2022, a study revealed that globally, more consumers shop for toys, games, and books online rather than offline.
