Market Insights Advertising & Media Metaverse

Metaverse eCommerce - Morocco

Morocco

The Metaverse eCommerce market is anticipated to reach a value of US$15.0m in 2024, with an expected annual growth rate (CAGR 2024-2030) of 45.85%.
This growth is projected to result in a market volume of US$144.0m by 2030.
It is worth noting that China is the leading generator of value in this market, with a projected market volume of US$10.2bn in 2024.
In terms of user numbers, the Metaverse eCommerce market is expected to have 4.0m users users by 2030.
The user penetration rate is anticipated to be 3.0% in 2024 and is projected to reach 10.0% by 2030.
Additionally, the average value per user (ARPU) is expected to be US$12.8.
It is important to mention that these projections and figures are specific to the Metaverse eCommerce market and do not represent the overall market in Morocco.
Despite the growing popularity of Metaverse eCommerce globally, Morocco lags behind due to limited internet penetration and lack of digital infrastructure.

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Analyst Opinion

The Metaverse eCommerce market in Morocco is experiencing significant growth and development.

Customer preferences: In Morocco, consumers are increasingly turning to online platforms to make their purchases. This shift in consumer behavior is driven by several factors, including convenience, a wide range of product options, and competitive pricing. Additionally, the younger generation, which is more tech-savvy, is embracing the concept of the metaverse and exploring the possibilities it offers for online shopping.

Trends in the market: One of the key trends in the Metaverse eCommerce market in Morocco is the rise of virtual shopping experiences. Retailers are creating virtual storefronts within the metaverse, allowing customers to browse and purchase products in a virtual environment. This immersive shopping experience enhances customer engagement and provides a unique way to interact with brands. Moreover, the integration of augmented reality (AR) and virtual reality (VR) technologies in the metaverse enables customers to visualize products and make more informed purchasing decisions. Another trend in the market is the increasing adoption of digital currencies for online transactions. Cryptocurrencies, such as Bitcoin and Ethereum, are gaining popularity in Morocco, and more online retailers are accepting these digital currencies as a form of payment. This trend is driven by the growing interest in decentralized finance and the desire for secure and seamless transactions in the metaverse.

Local special circumstances: Morocco has a young and tech-savvy population, which contributes to the growth of the Metaverse eCommerce market. The country has a high internet penetration rate, and the majority of the population owns smartphones, making it easier for people to access online platforms and engage in metaverse experiences. Additionally, the government of Morocco has been supportive of digital innovation and has implemented policies to encourage the growth of the digital economy, including the development of infrastructure and the promotion of digital literacy.

Underlying macroeconomic factors: Morocco's growing middle class and rising disposable incomes are driving the demand for online shopping and contributing to the growth of the Metaverse eCommerce market. As consumers become more financially stable, they are more willing to spend on non-essential items and explore new shopping experiences. Furthermore, the COVID-19 pandemic has accelerated the shift towards online shopping, as people turned to e-commerce platforms to meet their needs during lockdowns and restrictions. This increased reliance on online shopping is expected to continue even as the pandemic subsides. In conclusion, the Metaverse eCommerce market in Morocco is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As the metaverse continues to evolve, it presents new opportunities for online retailers to engage with customers and provide innovative shopping experiences.

Methodology

Data coverage:

Figures are based on in-app spending, consumer spending, in-game spending, app downloads, and investment and funding data.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.