Description
Countries Covered: Bahrain, Iran, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, UAE
Pages: 78
Publication Date: 28/03/2024
Questions Covered:
- What is the anticipated value of the Middle East’s digital economy by 2030?
- What are the forecasts for the B2C E-Commerce sector in Saudi Arabia by 2027?
- How has online spending behavior in Saudi Arabia evolved in 2023 and what motivators are driving this trend?
- What is the anticipated B2C E-Commerce revenue for the UAE by 2028?
- Which mobile shopping app emerged as the top contender in Jordan’s digital commerce landscape in March 2024?
Key Findings:
The Middle East’s Digital Economy is Projected to Surge Beyond EUR 500 Billion by 2030: According to the Latest yStats.com Report.
Middle East’s Economic Evolution and Mobile Commerce Dominance
The Middle East’s digital economy is projected for abnormal growth, with projections indicating over EUR 500 billion valuation by 2030, representing a remarkable CAGR of more than 20% from 2022. This revelation comes amidst the region’s accelerating embrace of digital commerce and online transactions, reshaping consumer behaviors and market dynamics.
The MENA region is swiftly transitioning towards mobile commerce dominance, with an anticipated high double-digit share of total online transaction value expected to be driven by mobile platforms by 2025, as stated in the yStats.com report. Moreover, the B2C E-Commerce market in the region is forecasted to surge over EUR 50 billion by 2026, highlighting the significant opportunities awaiting businesses in this rapidly evolving landscape.
Accelerating Digital Transformation and E-Commerce Evolution in Saudi Arabia and the UAE
Saudi Arabia, a leading player in the region’s digital transformation, is witnessing remarkable milestones in its B2C E-Commerce sector. Forecasts suggest that by 2027, the B2C E-Commerce revenue in the Kingdom is set to soar to over EUR 20 billion. This growth is further emphasized by the projected increase in B2C E-Commerce’s share of total retail sales. Saudi online spending surged, with over half of Internet users making weekly purchases by Q3 2023, driven primarily by “free delivery” motivator. Leading players like “Amazon.sa” and “Nice One” maintain dominance, highlighting the Kingdom’s dynamic digital commerce scene as mentioned in the yStats.com report. Furthermore, the UAE is witnessing a digital commerce boom, with B2C E-Commerce revenue set to reach close to a double digit EUR billion value by 2028. The mobile commerce market is also on the rise, expected to nearly double by 2026. “Amazon.ae” and “Temu” stand out as leading platforms illustrating strong interest in digital commerce solutions.
In the dynamic landscape of Middle Eastern E-Commerce, Kuwait’s B2C E-Commerce market is projected to boost by 2027. Moreover, in March 2024, “Temu” and “Flipkart” led as the top free mobile shopping apps in Kuwait, while “Temu” dominated in Jordan and Bahrain, reflecting the thriving digital commerce in these regions.
