According to our research, E-commerce industry revenue in MEA is estimated more than $70 Billion by the year 2021 which is rising with a good amount of growth rate.
Middle East
Generally, E-commerce industry revenue in the Middle East accounts for more than $50 Billion but many resources calculate it for only $20 -$30 Billion because they donβt include the sales of many other electronic online transactions.
UAE and Saudi Arabia are the leading eCommerce market in Middle East.
Amazon | Souq | Noon are categorised as the major eCommerce players in the Middle East at the present moment.
Africa
Africa has more than $24 billion in revenue generated through E-commerce by 2020 and expected to cross $37 billion by 2024. South Africa | Nigeria | KenyaΒ dominates the E-commerce market amongst all of the African countries.
According to the report, there are approx 300-400 million internet users in Africa and by 2030 Africa would be able to access the internet across the continent by the initiative taken by the multiple organizations like United Nations and few private foundations.
Basically, internet penetration(70%) is the biggest main reason in the growth of eCommerce industry in Middle East & Africa(MEA) which also increased the use of online payment methods in MEA.
We have written the two separate article for both the regions for best online selling platforms & marketplaces in Middle-East & Africa(MEA).