IMARC Group has recently released a new research study titled “Africa E-Commerce Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028“, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What is the expected growth rate of the Africa e-commerce market during 2023-2028?
The Africa e-commerce market is expected to exhibit a growth rate (CAGR) of 26.5% during 2023-2028.
Industry Outlook:
E-commerce, or electronic commerce, is the purchasing and marketing of goods and services online across various business models, including business-to-business (B2B), business-to-consumer (B2C), and consumer to consumer (C2C). It includes activities such as online banking, ticket booking, auctions, payment gateways, and customer support. E-commerce offers numerous benefits, including offering discounts, lowering inventory costs, providing hassle-free delivery of goods and services, and increasing profit margins. One of the most substantial advantages of e-commerce is its ability to provide a global reach, allowing sellers to connect with customers from all around the world. Moreover, e-commerce facilitates direct communication between parties, enabling faster transactions and improving overall business efficiency.
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What are the trends in the Africa e-commerce industry?
In Africa, the increasing demand for online shopping due to rapid penetration of the internet and smartphones represents one of the primary factors bolstering the Africa e-commerce market growth. This is further influenced by the growing presence of international companies in the region. Additionally, the COVID-19 pandemic significantly shifted consumer preferences from traditional brick-and-mortar retail stores to online shopping to maintain social distancing, which, in turn, is accelerating the market growth.
Apart from this, the integration of e-commerce platforms with advanced technologies, such as predictive analytics, artificial intelligence (AI), and cloud computing, to improve business efficiency, minimize operational costs, and facilitate better decision-making, is creating a positive outlook for the Africa e-commerce market.
Africa E-Commerce Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the Africa e-commerce market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Companies Covered:
- Alibaba Group (NYSE: BABA)
- Amazon.com, Inc
- Avito Holding AB
- Bidorbuy.com Inc
- DHL International GmbH
- DealDey Ltd.
- eBay Inc. (NASDAQ: EBAY)
- GumTree.com Limited
- Jiji Press Ltd.
- Jumia Technologies AG
- Konga Online Shopping Ltd.
- Naspers Ltd.
- OLX Group.
Report Segmentation:
The report has segmented the Africa e-commerce market on the basis of business model, mode of payment, service type, product type and country.
Breakup by Business Model:
- B2C
- B2B
- C2C
- Others
Breakup by Mode of Payment:
- Payment Cards
- Online Banking
- E-Wallets
- Cash-On-Delivery
- Others
Breakup by Service Type:
- Financial
- Digital Content
- Travel and Leisure
- E-Tailing
- Others
Breakup by Product Type:
- Groceries
- Clothing and Accessories
- Mobiles and Electronics
- Health and Personal Care
- Others
Breakup by Country:
- South Africa
- Nigeria
- Egypt
- Morocco
- Kenya
- Others
Explore Full Report Description At: https://www.imarcgroup.com/africa-e-commerce-market
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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