Yahoo Finance The Saudi Arabia E-Commerce Industry is Expected to Reach $20 Billion in 2027
Saudi Arabian E-Commerce Market
Dublin, Dec. 06, 2022 (GLOBE NEWSWIRE) -- The "Saudi Arabia E-Commerce Market, Size, Share, Forecast 2023-2027, Industry Trends, Growth, Insights, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia's E-Commerce Market is expected to reach US$ 20.01 Billion in 2027. The digital economy has grown dramatically over time, with internet connectivity becoming widely available worldwide.
Therefore, as more e-commerce enterprises enter Saudi Arabia, the e-commerce industry grows tremendously. Moreover, to fulfil the increased demand for online retailing, several e-commerce industry vendors have extended their operations in Saudi Arabia. Furthermore, based on recent market trends, the Saudi e-commerce business feels that there is a growing need for online shopping among buyers.
Saudi Arabia's E-Commerce Market Size is expanding at a CAGR of 20.87% from 2022 to 2027:
Saudi Arabia's e-commerce sector is expanding due to increased smartphone usage, social media usage, and internet penetration. Furthermore, this has prompted international e-commerce market suppliers to invest in the country. According to Invest Saudi, the government will have 575 new foreign investment projects in 2021. The rise in these international ventures is due to the country's booming e-commerce and retail markets.
Impact of COVID-19 on Saudi Arabia's E-Commerce Industry:
The global retail sector, particularly the brick-and-mortar model, has been severely impacted by the COVID-19 outbreak and lockdown. Nonetheless, e-commerce is one of the few industries that has seen a growth in consumer transactions in various areas. Saudi Arabia is following the same pattern.
Multiple companies in the region were compelled to react to changing customer priorities due to the commercial slowdown and nationwide lockdown. As a result, Saudi Arabia's e-commerce business segments had substantial growth as internet shopping and retailing became the new approach under these circumstances. According to the publisher's analysis, Saudi Arabia's E-Commerce Market was US$ 8.53 Billion in 2022.
By Category, Fashion is expected to hold a Major Share:
During the Covid-19 pandemic, the fashion sector grew because client tastes switched towards online buying with easy access to various websites, eliminating the need to visit physical stores. The surge in users of social media and smartphones, for example, has fuelled demand for online purchasing and commerce.
Moreover, several fashion firms plan to extend their presence in the Saudi Arabian market. In March 2022, for example, noon.com announced the opening of its new 45,000m2 Customer Fulfilment Centre in Riyadh, Saudi Arabia. This will allow them to transport their items quickly around the country.
Trends of Payment Methods Existing in Saudi Arabia E-Commerce Market:
Although, in the e-commerce industry in Saudi Arabia, cards as a payment mechanism have the most dominant market share in the online purchase cycle. Meanwhile, bank transfers, cash on delivery, direct debits, and e-wallet choices will continue to grab their market position in the Saudi payment landscape in the coming years.
Investments in research and development, innovation, and entrepreneurship in fintech digital payment start-ups in mobile payments, cross-border peer-to-peer payments, and digital commerce transactions are also expected to assist Saudi Arabia's e-commerce business to grow.
Competitive Landscape:
Companies in Saudi Arabia's e-commerce market are becoming more competitive. Amazon, eBay, Emmar Properties Namshi, Noon, Alibaba, and Jarir Marketing (Bookstore) are among the most prominent participants in the sector. These significant businesses currently dominate the Saudi Arabian e-commerce market in market share. However, as e-commerce evolves, many companies and startups expand their market presence by gaining new contracts and entering new areas.
Companies Covered:
1. Amazon
2. ebay
3. Emmar Properties Namshi
4. Noon
5. Alibaba
6. Jarir Marketing (Bookstore)
Report Attribute | Details |
No. of Pages | 115 |
Forecast Period | 2022 - 2027 |
Estimated Market Value (USD) in 2022 | $8.53 Billion |
Forecasted Market Value (USD) by 2027 | $22.01 Billion |
Compound Annual Growth Rate | 20.8% |
Regions Covered | Saudi Arabia |
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Key Growth Drivers
4.2 Key Challenges
5. Saudi Arabia E-Commerce Market Analysis
5.1 E-Commerce Market
5.2 E-Commerce Penetration
6. Saudi Arabia E-Commerce Consumers Analysis
6.1 E-Commerce Users
6.2 Average Revenue per Users (ARPUs)
7. Market Share Analysis
7.1 By Category
7.2 By Payment Method
8. Category Analysis - Saudi Arabia E-Commerce Market
8.1 Beauty, Health, Personal & Household Care
8.2 Beverages
8.3 Electronics
8.4 Fashion
8.5 Food
8.6 Furniture
8.7 Media
8.8 Toy, Hobby & DIY
9. Payment Method - Saudi Arabia E-Commerce Market
9.1 Bank Transfer
9.2 Cards
9.3 Cash on Delivery
9.4 Direct Debits
9.5 E-Wallet
9.6 Others
10. Company Analysis
10.1 Amazon
10.1.1 Overview
10.1.2 Recent Development
10.1.3 Revenue
10.2 ebay
10.2.1 Overview
10.2.2 Recent Development
10.2.3 Revenue
10.3 Emmar Properties Namshi
10.3.1 Overview
10.3.2 Recent Development
10.3.3 Revenue
10.4 Noor
10.4.1 Overview
10.4.2 Recent Development
10.4.3 Revenue
10.5 Alibaba
10.5.1 Overview
10.5.2 Recent Development
10.5.3 Revenue
10.6 Jarir Marketing (Bookstore)
10.6.1 Overview
10.6.2 Recent Development
10.6.3 Revenue
For more information about this report visit https://www.researchandmarkets.com/r/3x11v
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