Africa E-Commerce Market is Expected to Touch a Market Size of US$ 72 Billion by 2030, Report by RationalStat

Africa E-Commerce market is expected to reach US$ 72 billion by 2030, with an annual growth rate of more than 20% , according to market report by RationalStat

WILMINGTON, DELAWARE, UNITED STATES, October 19, 2023 /EINPresswire.com/ -- Africa E-Commerce Market value is estimated at US$ 20.1 billion in 2023 and is expected to grow at a significant CAGR of over 20% over the forecast period of 2023-2030, according to the latest market report by RationalStat

Market Definition, Market Scope, and Report Overview

The Africa e-commerce market is expected to grow significantly in the coming years, driven by the increasing demand for e-commerce solutions across the region and the increasing adoption of technology. Companies operating in the market are focusing on expanding their product offerings, improving their technology and analytics capabilities, and increasing their presence in the market to increase their market share. North Africa, West Africa, East Africa, and South Africa are expected to be significant markets for e-commerce in the region. The increasing demand for convenient and accessible shopping options and the increasing adoption of technology are expected to drive the growth of the e-commerce market in the coming years.

Africa is becoming increasingly urbanized, with more and more people moving to cities. This urbanization is leading to a rise in disposable incomes and a growing demand for e-commerce products and services. Moreover, internet and smartphone penetration is growing rapidly in Africa. This is making it easier and more convenient for people to shop online. Global tech giants, such as Amazon and Alibaba, are investing heavily in the Africa e-commerce market. This investment is helping to fuel the growth of the market.

• According to a deep-dive market assessment by RationalStat, the Africa E-Commerce market has been analyzed on the basis of market segments, including product type, technology, sector, and geography/regions (including South Africa, Egypt, Sub-Saharan, Rest of Africa). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the Africa E-Commerce market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

• In addition, the long-term sector and products/services 10-year outlook and its implications on the Africa E-Commerce market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Africa E-Commerce Market: Segmental and Market Share Analysis

• On the basis of type, the apparel segment is dominating the Africa e-commerce market. Africa's middle class is growing, and people have more money to spend on discretionary items such as clothing.

• Based on transactions, the business-to-consumer (B2C) segment is dominating the Africa e-commerce market. The growing middle class: Africa's middle class is growing, and people have more money to spend on discretionary items online. Moreover, the increasing adoption of smartphones and the internet: More and more Africans are using smartphones and the internet, which makes it easier for them to shop online.

Report Synopsis

Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 20.1 billion
Market Size Forecast US$ 72 billion
Growth Rate 20%

Key Market Drivers

• Rapid population growth
• Increasing urbanization
• Growing internet and smartphone penetration
• Rising investment from global tech giants
• Strong Government support

Companies Profiled

• Jumia Group (Jumia)
• Takealot
• Konga
• Kilimall
• MallforAfrica
• Souq
• Zando
• Carousell
• OLX
• Jiji
• Copia Global
• Twiga Foods
• SafeBoda
• Gokada
• Flutterwave

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Competition Analysis and Market Structure

Prominent companies and leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the Africa E-Commerce market include,

• In March 2023, Jumia, Africa's leading e-commerce platform, acquired Masoko, a Kenyan e-commerce company, for an undisclosed amount. This acquisition is expected to help Jumia expand its reach in Kenya and other East African markets.

• In February 2023, Takealot, South Africa's largest online retailer, acquired Mr D Food, a South African food delivery company, for US$ 1.1 billion. This acquisition is expected to help Takealot expand its food delivery business and compete with other food delivery companies in South Africa, such as Uber Eats and Deliveroo.

Some of the prominent players and suppliers operating and contributing significantly to the Africa E-Commerce market growth include Jumia Group (Jumia), Takealot, Konga, Kilimall, MallforAfrica, Souq, Zando, Carousell, OLX, Jiji, Copia Global, Twiga Foods, SafeBoda, Gokada, and Flutterwave, among others.

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RationalStat has segmented the Africa E-Commerce market based on type, transactions, and region

• Africa E-Commerce Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
o Home Appliances
o Apparel
o Footwear and Accessories
o Books
o Cosmetics
o Groceries
o Others
• Africa E-Commerce Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Transactions
o Business-To-Consumer
o Business-To-Business
o Consumer-To-Consumer
o Others
• Africa E-Commerce Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
o Africa E-Commerce Market
 South Africa
 Egypt
 Sub-Saharan
 Rest of Africa

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Key Questions Answered in the E-Commerce Report:

• What will be the market value of the Africa E-Commerce market by 2030?
• What is the market size of the Africa E-Commerce market?
• What are the market drivers of the Africa E-Commerce market?
• What are the key trends in the Africa E-Commerce market?
• Which is the leading region in the Africa E-Commerce market?
• What are the major companies operating in the Africa E-Commerce market?
• What are the market shares by key segments in the Africa E-Commerce market?

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Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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About RationalStat LLC

RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

Kimberly Shaw
RationalStat LLC
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