Africa E-Commerce Market Set to Experience a Massive 26.5% CAGR During 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Africa E-Commerce Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the Africa e-commerce market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the Africa e-commerce market?

The Africa e-commerce market is expected to exhibit a growth rate (CAGR) of 26.5% during 2023-2028.

What is the e-commerce market?

E-commerce refers to the buying and selling of goods and services over the Internet. It involves online transactions, online shopping, electronic funds transfer, supply chain management, and more. The components of E-commerce typically involve a web platform, online catalogs, secure payment gateways, and digital shopping carts. E-commerce eliminates the need for physical presence at brick-and-mortar stores and enables businesses to reach a global audience, while customers can shop and make transactions from the comfort of their own devices.

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What are the industry statistics, future prospects and trends in the Africa e-commerce industry?

The Africa e-commerce market is primarily driven by the growing access to the internet. In line with this, the increasing adoption smartphones and growing mobile apps has made it easier for consumers to shop on the go, which is fueling the market growth. Moreover, advancements in secure, digital payment options are allowing consumers to engage in online transactions with increased confidence thus presenting remunerative growth opportunities for the market. Furthermore, the growing level of digital literacy among the masses is making consumers more comfortable with online transactions which is contributing to the market growth.

Additionally, the changing consumer preferences towards online shopping due to factors like time constraints, cost savings, and a wider variety of product, is acting as another growth-inducing factor. Furthermore, the COVID-19 pandemic accelerated the adoption of online shopping due to lockdowns and social distancing measures, pushing more consumers and businesses to embrace e-commerce, which created a positive outlook for the market. Other factors, including rising expenditure capacities of consumers, enhanced focus on research and development (R&D) activities are supporting the market growth.

Who are the key players operating in the industry?

The report covers the major market players including: 

E-Commerce Companies in Africa:

• 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.

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

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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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