Saudi Arabia’s e-commerce market is expected to grow from USD 15 billion in 2024 to USD 29 billion by 2030, with a CAGR of 12%. Digital payments have surged by 24% in 2023, and segments like consumer electronics and food delivery are poised for significant growth. The market features key competitors leveraging technology and marketing for enhanced customer engagement.
The e-commerce market in Saudi Arabia is projected to experience substantial growth, increasing from USD 15 billion in 2024 to USD 29 billion by 2030. This forecast indicates a compound annual growth rate (CAGR) of 12% between 2025 and 2030. The rise in digital payment transactions, which have surged by 24% year-over-year in 2023, illustrates the market’s expanding economic landscape.
In summary, the Saudi Arabia e-commerce market is poised for significant expansion, driven by increasing internet penetration, a young demographic, and heightened consumer comfort with online shopping. The competitive landscape is dynamic, with various players leveraging technological advancements. Despite logistical challenges, opportunities abound for innovative solutions, creating a robust environment for e-commerce enterprises pursuing growth in the MENA region.
Original Source: www.openpr.com
