Africa E-Commerce Market Size, Industry Analysis, Growth Opportunities, and Forecast - 2028

The latest report by IMARC Group, titled "Africa E-Commerce Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the global visual effects (VFX) market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

Market Size, CAGR and Froecast Value: 2023-2028

The Africa e-commerce market size reached US$ 241.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 567.6 Billion by 2028, exhibiting a growth rate (CAGR) of 15.3% during 2023-2028.

E-commerce or electronic commerce is the process of buying and selling goods and services through the internet. It also allows the transfer of money as well as data to complete the transaction. E-commerce platforms are increasingly used by firms and individuals to execute businesses online. Books, music, plane tickets, stock investing, and online banking are common products and services available through e-commerce. In Africa, the increasing demand for smartphones, tablets, computers and laptops has led to the emergence of e-commerce platforms. These mediums act as a digital version of mail-order shopping catalogs, making every imaginable product and service available to consumers.

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Market Trends and Growth Drivers:

The Africa e-commerce market is primarily driven by the growing penetration of the internet and smart devices. Besides this, improved internet connectivity across Africa due to rapid urbanization has also encouraged consumers to shift their preference from physical brick-and-mortar shops to e-commerce. It enables a business to continue without the need for a physical presence. In addition to this, the spread of the coronavirus disease (COVID-19) pandemic across the region escalated the demand for e-commerce platforms as governments of various countries have imposed strict lockdown and social distancing measures to combat the spread of the virus.

Furthermore, the decreasing overhead operational costs and improving efficiency provided by e-commerce solutions are expected to bolster the market growth in the coming years.

Some of the Top Key Players Operating in the Market are Given Below:

• 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.

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What is included in market segmentation?

The report has segmented the market into the following categories:

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

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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.