eServices - Senegal

Senegal

Revenue in the eServices market is projected to reach €24.03m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.12%, resulting in a projected market volume of €31.64m by 2028.
The Dating Services market is expected to show a revenue growth of 11.3% in 2025.
The Event Tickets market has a projected market volume of €17.10m 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 Event Tickets market is projected to amount to €37.20 in 2024.
In the Dating Services market, the number of users is expected to amount to 1.2m users by 2028.
User penetration in the Dating Services market will be at 4.3% in 2024.

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

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Analyst Opinion

The eServices market in Senegal is experiencing significant growth and development, driven by various factors such as increasing internet penetration, rising smartphone adoption, and the government's push for digital transformation.

Customer preferences: Customers in Senegal are increasingly seeking convenience and efficiency in their daily lives. This has led to a growing demand for eServices that offer online shopping, digital payments, and access to government services. With the rise of smartphone usage, customers are also looking for mobile applications that provide easy access to these services.

Trends in the market: One of the key trends in the eServices market in Senegal is the growth of e-commerce. With the increasing availability of internet access and the rise of online marketplaces, more and more Senegalese consumers are turning to online shopping for their everyday needs. This trend is further fueled by the convenience and competitive pricing offered by e-commerce platforms. Another trend in the market is the adoption of digital payment solutions. Senegal has seen a significant increase in the use of mobile money services, allowing customers to make payments and transfer money using their smartphones. This trend is driven by the convenience and security offered by digital payment solutions, as well as the government's efforts to promote financial inclusion.

Local special circumstances: Senegal has a young and tech-savvy population, which has contributed to the rapid adoption of eServices in the country. The government has also played a crucial role in driving the growth of the eServices market through its digital transformation initiatives. These initiatives include the development of online platforms for government services, such as tax payment and business registration, as well as the promotion of e-commerce and digital payment solutions.

Underlying macroeconomic factors: Senegal's growing economy and stable political environment have created a favorable business climate for eService providers. The country has seen steady economic growth in recent years, which has contributed to the increasing purchasing power of consumers. Additionally, the government's commitment to digital transformation and investment in infrastructure, such as broadband internet, has created an enabling environment for the growth of the eServices market. In conclusion, the eServices market in Senegal is experiencing significant growth and development, driven by increasing internet penetration, rising smartphone adoption, and the government's push for digital transformation. Customers in Senegal are seeking convenience and efficiency, leading to a growing demand for eServices such as e-commerce and digital payments. The country's young and tech-savvy population, along with favorable macroeconomic factors, further contribute to the growth of the market.

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.