MENA and GCC e-Commerce Market from 2018 to 2025
The mass internet adoption in MENA especially in the Gulf Cooperation Council (GCC) took off around the mid-2000s mostly driven by smartphones and social media and underpinned by faster internet speeds. Businesses were late to join the digital party. Within the span of 5 years, the share of digital media increased from less than 10 % in 2012 to more than 30% in 2017.
The e-commerce phase in MENA started when in March 2017 Amazon announced the acquisition of Souq which is the leading MENA e-commerce company for USD 580 million. Later in that year Emaar properties launched a new e-commerce venture with USD 1 billion funding which was backed Public Investment Fund of Saudi Arabia.
Regional Insight
‣ KSA and UAE dominate the Middle East region with nearly 58.5% of the market share.
‣ The value of e-commerce in the Middle East in 2020 amounted to around 17 billion U.S. dollars, of which 5.5 billion U.S. dollars was in Saudi Arabia, and 4.5 billion U.S. dollars was in the United Arab Emirates market.
‣ Post COVID, the forecast for GCC countries remain positive
Data Sources: Bain, Statista, Trade Arabia and others.
To know more about this market study Contact Now