( MENAFN - GlobeNewsWire - Nasdaq) Dublin, May 27, 2024 (GLOBE NEWSWIRE) -- The "United Arab Emirates Ecommerce Market Opportunities Databook - 100+ KPIs on Ecommerce Verticals (Shopping, Travel, Food Service, Media & Entertainment, Technology), Market Share by Key Players, Sales Channel Analysis, Payment Instrument, Consumer Demographics - Q1 2024 Update" report has been added to ResearchAndMarkets's offering. The E-commerce market in United Arab Emirates is expected to grow by 12.77% on annual basis to reach US$34.
6 billion in 2024. The E-commerce is expected to grow steadily over the forecast period, recording a CAGR of 10.24% during 2024-2028.
The E-commerce Gross Merchandise Value in the country will increase from US$30.7 billion in 2023 to reach US$51.2 billion by 2028.
The B2C e-commerce market is poised to grow at an accelerated rate over the next three to four years in the Emirati nation. The growth will be driven by young generation shoppers, including Gen Z and millennial consumers. To tap into the growing number of online buyers, offline retail businesses are also launching their e-commerce platforms, thereby targeting higher sales and revenue growth.
The fast-growing market is also expected to drive investment from e-commerce platforms in the region. The demand for warehouses, for instance, has been growing significantly in the Emirates. With the market poised for further growth, the publisher expects online retailers to invest in expanding their warehouse capaci.