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Africa & Middle East Social Commerce Market Intelligence Report 2024: Rising Usage of Social Media Platforms will Drive the Trend of Social Buying

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DUBLIN, Feb. 16, 2024 /PRNewswire/ — The Africa & Middle East Social Commerce Market Intelligence and Future Growth Dynamics Databook – 50+ KPIs on Social Commerce Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics – Q1 2024 Update” report has been added to ResearchAndMarkets.com’s offering.

Social commerce industry in Africa & Middle East is expected to grow by 34.0% on annual basis to reach US$12.58 billion in 2024.

The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 27.6% during 2024-2029. The social commerce GMV in the region will increase from US$9.39 billion in 2023 to reach US$42.54 billion by 2029.

The social commerce market is poised to record strong growth in the Middle East and Africa markets over the medium term. This surge in online commerce, including social buying among young generation shoppers, will aid the industry growth across the region in 2024. In the Middle East, young generation shoppers are also making luxury purchases through social channels.

New players have entered the Middle East market in 2023 and the trend is projected to continue further in 2024. In the African region, too, the industry is experiencing a surge in the competitive landscape. Even B2B e-commerce firms are planning to enter the social commerce market to accelerate revenue growth. Overall, the publisher maintains a positive growth outlook for the industry over the next three to four years.

The rising usage of social media platforms will drive the trend of social buying in the Middle East in 2024

A significant population chunk in the Middle East is using social channels. According to the RetailX Middle East E-Commerce Region 2023 report, nearly 98% of the population uses at least one social media platform in Qatar. The adoption of TikTok, which is making significant strides in the regional market, has also grown substantially over the last 12 months. This is also translating into higher social commerce revenue for TikTok in the GCC region. According to TikTok, 41% of the users have made purchases through the platform in GCC.

According to RetailX, 79% of social media users are looking for brands or things to purchase in the UAE. Furthermore, 59% of the people have stated that they bought products on social channels over the last 12 months. In the Emirates, consumers are even making luxury purchases through social media channels. The publisher expects similar trends to emerge in other regional markets over the medium term. To tap into the growing sector, the publisher also expects social commerce firms to increase their investment in the market over the next three to four years.

B2B e-commerce firms are expanding their footprint in the fast-growing social commerce sector in Africa

An increasing number of small businesses are leveraging social commerce capabilities to drive their sales and revenue growth in Africa. The lack of capital and capacity to open stores and grow their businesses is driving the social commerce market in Africa. Amid the growing market size, even B2B e-commerce firms are expanding their footprint in the sector.

MarketForce, for instance, announced that the firm plans to launch the social commerce platform Chpter in Kenya. This platform will enable merchants to leverage social media conversations to drive sales and revenue growth. With the rising usage of social channels among consumers across age groups, MarketForce is seeking to boost its revenue growth through Chpter in the African market. The firm, notably, ceased B2B e-commerce operations in three of its five African markets. Exiting Nigeria, Rwanda, and Tanzania, the firm is only focusing on Kenya and Uganda.

With a lot of room for growth in the African social commerce market, Chpter can accelerate revenue growth for MarketForce over the medium term. The success in the sector might also lay the foundation for its B2B e-commerce expansion in other African markets over the next three to four years, which is currently facing funding hurdle.

Social commerce platforms have reported strong revenue growth in the United Arab Emirates

Amid the growing trend of social buying in the Emirates, platforms are enjoying a strong growth period in the country, registering significant revenue increases during the first six months of 2023.

SleekFlow, a leading software platform for social commerce in the Asia-Pacific region, reported an impressive fivefold increase in revenue in the UAE during the first half of 2023. Not only has the company done well in the Middle East, but it is projected that around 20% of the new revenue over the next two years will come from the UAE. The significant growth in the UAE is attributed to their strategic collaboration with L’Occitane ME’s Accelerator Program, which is powered by Chalhoub Group’s The Greenhouse. This partnership officially brought SleekFlow’s versatile social commerce platform to the UAE, making a significant impact on the retail scene in the region.

The growth achieved by SleekFlow in the United Arab Emirates market is a testament to the growing market. Going forward, the publisher expects more regional and global platforms to enter the market over the next three to four years.

This report provides a detailed data centric analysis of social commerce industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of social commerce market dynamics, market size and forecast, and market share statistics.

Scope

Country reports in this bundled offering provide in-depth analysis of Social Commerce industry. Below is a summary of key market segments offered at country level:

Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2020-2029

Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2020-2029

Social Commerce Industry Market Size and Forecast by Retail Product Categories, 2020-2029

Clothing & FootwearBeauty and Personal CareFood & GroceryAppliances and ElectronicsHome ImprovementTravelHospitality

Social Commerce Industry Market Size and Forecast by End Use Consumer Segment, 2020-2029

B2BB2CC2C

Social Commerce Industry Market Size and Forecast by End Use Device, 2020-2029

MobileDesktop

Social Commerce Industry Market Size and Forecast by Location, 2020-2029

DomesticCross Border

Social Commerce Industry Market Size and Forecast by Location, 2020-2029

Tier-1 CitiesTier-2 CitiesTier-3 Cities

Social Commerce Industry Market Size and Forecast by Payment Method, 2020-2029

Credit CardDebit CardBank TransferPrepaid CardDigital & Mobile WalletOther Digital PaymentCash

Social Commerce Industry Market Size and Forecast by Platforms

Video CommerceSocial Network-Led CommerceSocial ResellingGroup BuyingProduct Review Platforms

 Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behaviour,2023

By AgeBy Income LevelBy Gender

Companies Mentioned

FacebookYouTubeInstagramBrimoreTaager ShoppingDivar ShoppingTrumpetDigikalaBoardsEasy Social ShopGROOKiliShopCopiaJiji NigeriaSendboxreselr.comTajerFordealatonzoBabyGroup.co.zaTrendyolTurkSeyThe Luxury ClosetZbooniSellAnyCar.comFloranow

For more information about this report visit https://www.researchandmarkets.com/r/l3yig5

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Huawei Launches Over 20 All-New Xinghe Intelligent Network Offerings to Amplify Industrial Intelligence

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SHANGHAI, Sept. 21, 2024 /CNW/ — During HUAWEI CONNECT 2024, Leon Wang, President of Huawei’s Data Communication Product Line, announced more than 20 all-new Xinghe Intelligent Network offerings globally at the summit themed “Xinghe Intelligent Network, Amplify Industrial Intelligence”. These purpose-built offerings contribute to an AI network ecosystem and help customers seize opportunities for intelligent development and maximize intelligent productivity.

With the development of AI technologies, the world is advancing from digital transformation to intelligent transformation. All industries are quickly adopting AI technologies to create new use cases, for example, self-driving cars, intelligent diagnosis and treatment, and intelligent train inspection. All of these are significantly improving the efficiency and experience of our work and daily lives.

The advent of the intelligent era is driving networks into intelligent ones. Huawei has been making joint efforts with partners to lead research and practices of intelligent networks. That’s why Huawei constantly upgrades its Xinghe Intelligent Network offerings to help customers grasp opportunities for intelligent development, build new intelligent network infrastructure, and maximize intelligent productivity in the intelligent era. Key highlights include the following:

Xinghe Intelligent Campus focuses on AI-enabled, experience-centric campus network construction, ensuring zero freezing for audio and video applications, zero degradation on services, and zero waiting for interactions.Xinghe Intelligent WAN introduces a wide range of intelligent technologies to intelligently schedule millions of flows and precisely optimize service experience.Xinghe Intelligent Fabric adopts the AI Turbo engine to improve network throughput, enhancing foundation model training efficiency.Xinghe Intelligent Network Security integrates AI technologies into network security detection, accurately and rapidly identifying threats.

To support network solutions in various scenarios, Huawei released more than 20 featured offerings globally. Examples include the industry’s first 100 Tbps fixed-form Ethernet data center switch, the industry’s first 51.2 Tbps liquid-cooled fixed-form data center switch, the industry’s first AI router, high-quality 10 Gbps campus switches and Wi-Fi 7 APs, Intelligent SASE Branch Security Solution, and the industry’s first IP Autonomous Driving Network Solution. All these offerings are designed to help customers with greater business returns.

As the intelligent era calls for intelligent networks, Huawei will continue to drive the development of intelligent networks and upgrade its Xinghe Intelligent Network products and solutions, ultimately helping global customers to stride towards the intelligent era and reap more benefits.

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SOURCE Huawei

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HUAWEI CONNECT 2024 | Huawei Unveils the Brand-New Xinghe Intelligent Fabric Solution, Powering the AI Era

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SHANGHAI, Sept. 21, 2024 /PRNewswire/ — At HUAWEI CONNECT 2024, over 300 industry leaders, experts, and scholars gathered for the data center network session themed “Xinghe Intelligent Fabric, Powering the AI Era.” The event featured discussions on the evolution and technological advancements of data center networks. During the session, Arthur Wang, President of Data Center Network Domain at Huawei’s Data Communication Product Line, introduced the newly upgraded Xinghe Intelligent Fabric solution. This cutting-edge solution aims to establish a data center network characterized by one map for intelligent operations and maintenance (O&M), one network for diverse computing, and one platform for simplified deployment, providing a robust network infrastructure to support enterprises’ digital and intelligent transformations.

In his keynote speech, Arthur Wang outlined the emerging trends in data center network development. He emphasized that in the AI era, data center networks require both a “brilliant brain” and “resilient bones.” The newly launched Xinghe Intelligent Fabric solution is designed to deliver a powerful network infrastructure tailored for the AI era, featuring:

One Map for Intelligent O&M: Zero Management Concerns

Huawei’s exclusive network digital map enables rapid cross-data center and cross-vendor fault identification within minutes. Additionally, the NetMaster network large model facilitates AI-driven O&M, eliminating manual intervention and ensuring zero management concerns.

One Network for Diverse Computing: Zero Service Interruptions

The Xinghe Intelligent Fabric supports various application scenarios, including intelligent computing, general-purpose computing, and storage. The innovative Network Scale Load Balancing (NSLB) algorithm increases network throughput to 95% and boosts AI training efficiency by over 10%. With the exclusive iReliable three-level fast switchover capability, it achieves sub-millisecond switchover, guaranteeing zero service interruptions.

One Platform for Simplified Deployment: Zero Configuration Errors

By employing digital twins to simulate networks in advance and verify configurations post-deployment, the solution ensures 100% accuracy in network changes. By harnessing network-security convergence capabilities, AI creates an intelligent security matrix to analyze millions of security policies, achieving zero configuration errors.

Looking ahead, Huawei will continue to collaborate with industry partners to enhance research and innovation in data center networks, promote intelligent upgrades, and create greater value for the industry.

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SOURCE Huawei

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Cultivating a Culture of Peace: International Day of Peace Statement by Education Cannot Wait Executive Director Yasmine Sherif

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NEW YORK, Sept. 21, 2024 /CNW/ — The longing for peace transcends time, geography and religion. Based on justice, human rights and universal values outlined in the UN Charter, a culture of peace brings us all together in our common agenda for humanity. We can only co-exist by aligning ourselves with such a world order.

On today’s International Day of Peace, we call on world leaders to end conflict and embrace a culture of peace as enshrined in the UN Charter and related international law.

As the UN General Assembly outlined in the Declaration and Programme of Action on a Culture of Peace  a quarter of a century ago, this must include: “Respect for life, human rights and fundamental freedoms; the promotion of non-violence through education, dialogue and cooperation; commitment to peaceful settlement of conflicts; and adherence to freedom, justice, democracy, tolerance, solidarity, cooperation, pluralism, cultural diversity, dialogue and understanding at all levels of society and among nations.”

Educating for peace starts at home and continues in school through years of education. This takes place during the most formative years of a child learning about their identity, ethics, values, conscience, courage and compassion. Wherever there has been a failure in imparting on children the imperative for peace, the world is turned upside down. This is a global failure with no geographical boundaries.

Today, we live in a world of unprecedented violence, armed conflict and chaos. All the genuine and heartfelt commitments made in 1945 in the UN Charter seem to be fading away. Children and adolescents are the most vulnerable, the least protected, and the most impacted. They bear the brunt. 

Global conflicts killed three times as many children in 2023 than in the previous year, according to the United Nations. The number of forcibly displaced people reached an unprecedented 120 million in May 2024.

“In 2023, the United Nations verified a record 32,990 grave violations against 22,557 children in 26 conflict zones, a 35% increase from the previous year,” according to recent analysis by the UN.

We can end these violations and invest in a constructive co-existence globally. We can use our resources for education, rather than for wars. In classrooms around the world, girls and boys who have withstood the wrath of war can rebuild their hopes and their lives. Cultivating a culture of peace is possible. The financial resources exist. The choice as to how we use them is ours.

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SOURCE Education Cannot Wait

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