eServices - Nigeria

Nigeria

Revenue in the eServices market is projected to reach €874.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.18%, resulting in a projected market volume of €1,154.00m by 2028.
The Online Education market is expected to show a revenue growth of 10.6% in 2025.
The Online Gambling market has a projected market volume of €588.40m in 2024.
In global comparison, most revenue will be generated in the United States (€137,100.00m in 2024).
The average revenue per user (ARPU) in the Online Gambling market is projected to amount to €314.20 in 2024.
In the Online Education market, the number of users is expected to amount to 7.0m users by 2028.
User penetration in the Online Education market will be at 2.5% in 2024.

Key regions: China, United States, Europe, Germany, Asia

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The eServices market in Nigeria is experiencing significant growth and development, driven by increasing customer preferences for convenience and efficiency in accessing services. This trend is supported by local special circumstances and underlying macroeconomic factors that are conducive to the growth of the eServices market. Customer preferences in Nigeria are shifting towards digital platforms and online services. With a growing tech-savvy population and increasing smartphone penetration, customers are seeking convenient and efficient ways to access services. This includes online shopping, food delivery, ride-hailing, and digital financial services. The convenience of accessing these services from the comfort of their homes or on-the-go is a major driver of the eServices market in Nigeria. Trends in the eServices market in Nigeria are closely aligned with global and regional trends. The rise of e-commerce platforms and online marketplaces has transformed the retail landscape, allowing customers to shop for a wide range of products and have them delivered to their doorstep. Similarly, the popularity of ride-hailing services has revolutionized the transportation industry, providing customers with a convenient and reliable way to get around. These trends are evident in Nigeria, where e-commerce platforms and ride-hailing services have gained significant traction. Local special circumstances in Nigeria contribute to the growth of the eServices market. The country has a large youth population, which is more inclined towards adopting digital technologies and embracing online services. Additionally, the urbanization rate in Nigeria is increasing, leading to higher demand for services that can be accessed digitally. The combination of a young population and urbanization creates a favorable environment for the development of the eServices market in Nigeria. Underlying macroeconomic factors also play a role in the growth of the eServices market in Nigeria. The country has witnessed steady economic growth in recent years, which has resulted in an expanding middle class with higher disposable incomes. This has led to increased consumer spending and a greater demand for convenient and efficient services. Furthermore, the government of Nigeria has been supportive of the digital economy, implementing policies and initiatives to promote e-commerce and digital services. These factors contribute to the overall growth and development of the eServices market in Nigeria. In conclusion, the eServices market in Nigeria is witnessing significant growth and development, driven by customer preferences for convenience and efficiency. The rise of digital platforms and online services is transforming various industries, including retail, transportation, and financial services. Local special circumstances, such as a young population and urbanization, further contribute to the growth of the eServices market. Additionally, underlying macroeconomic factors, such as economic growth and government support, create a conducive environment for the development of the eServices market in Nigeria.

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.