Metaverse eCommerce - Northern Africa

The Metaverse eCommerce market is anticipated to reach a value of US$86.2m in 2024.
This market segment is projected to experience an annual growth rate (CAGR 2024-2030) of 45.76%, leading to a market volume of US$826.7m by 2030.
In 2024, China is expected to generate the highest market volume, with a projected value of US$10.2bn.
Looking ahead to 2030, the number of users in the Metaverse eCommerce market is estimated to reach 18.0m users.
The user penetration rate is expected to be 2.6% in 2024, and is projected to increase to 8.4% by 2030.
Furthermore, the average value per user (ARPU) is anticipated to be US$16.4.
These figures highlight the potential growth and value within the Northern African Metaverse eCommerce market.
In Northern Africa, the Metaverse eCommerce market is experiencing rapid growth, with virtual shopping experiences becoming increasingly popular among consumers.

Definition:

The eCommerce market refers to the buying and selling of goods and services within virtual reality environments, such as virtual worlds, social VR platforms, and other immersive digital spaces. These can include virtual storefronts, digital marketplaces, and other online shopping experiences that allow users to purchase real-world products or virtual items using virtual currencies and/or real-world money. Metaverse eCommerce can also include virtual shopping experiences, where users can explore and interact with virtual stores, try on virtual clothing and accessories, and make purchases through virtual cash or real-world money.

Structure:

The eCommerce market also covers the markets Beauty, Health, Personal & Household Care, Toys, Hobbys, DIY & Media, Furniture, Electronics, Fashion, and Food & Beverages. All of them refer to the specific goods that can be bought in the metaverse.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes are generated through in-app purchases and consumer spending on items, products, and hardware such as headsets and glasses. Market numbers for eCommerce are also featured in the Digital Market Insights. Key players in the market include companies, such as IKEA, Virtual Realms, and Holition. For more information on the data displayed, use the info button right next to the boxes.

Marketplaces in the metaverse, such as Decentraland's Marketplace
Items bought for avatars used in the metaverse, such as Costumes or Skins
Fashion for avatars, such as Gucci stores
Electronics, such as AR and VR hardware

Physical items used for the metaverse, such as Oculus Quest
Purchase of games that are considered metaverse, such as Roblox or Sandbox

The Metaverse eCommerce market in Northern Africa is experiencing rapid growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Northern Africa are shifting towards online shopping and digital experiences.

With the advancement of technology and increased internet penetration, consumers are increasingly embracing the convenience and accessibility of online shopping. This shift is particularly evident among the younger population who are more tech-savvy and open to exploring new digital platforms. Additionally, the COVID-19 pandemic has further accelerated the adoption of online shopping as consumers sought safer alternatives to traditional brick-and-mortar stores.

Trends in the market indicate a growing interest in the metaverse and its potential for eCommerce. The metaverse, a virtual reality space where users can interact with each other and digital objects, is gaining popularity worldwide. In Northern Africa, there is a growing demand for immersive online experiences and virtual shopping environments.

Retailers and eCommerce platforms are capitalizing on this trend by creating virtual storefronts and virtual reality shopping experiences, allowing customers to browse and purchase products in a more engaging and interactive way. Local special circumstances in Northern Africa also contribute to the development of the Metaverse eCommerce market. The region has a large youth population that is tech-savvy and eager to embrace new technologies.

This demographic factor, combined with high smartphone penetration and increasing internet connectivity, creates a favorable environment for the growth of the metaverse and eCommerce. Furthermore, Northern Africa has a rapidly expanding middle class with increasing disposable income, driving consumer spending and online shopping. Underlying macroeconomic factors play a significant role in the development of the Metaverse eCommerce market in Northern Africa.

The region is experiencing economic growth and urbanization, which leads to increased consumer spending and demand for online shopping. Additionally, governments in Northern Africa are investing in digital infrastructure and promoting digitalization as part of their economic development strategies. These initiatives create an enabling environment for the metaverse and eCommerce to thrive.

In conclusion, the Metaverse eCommerce market in Northern Africa is experiencing rapid growth and development due to shifting customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As consumers increasingly embrace online shopping and digital experiences, the metaverse provides a new and exciting platform for eCommerce in the region. With the support of favorable demographics, economic growth, and government initiatives, the Metaverse eCommerce market in Northern Africa is poised for further expansion in the coming years.

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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Before Mark Zuckerberg announced Facebook’s name change to Meta to the surprise and sniggers of social media users, the metaverse was a niche and futuristic concept familiar to the tech and science-fiction aficionados. Yet now, it has become the catchphrase that sets the scene for the next stage of the internet. Facebook’s rebranding of Meta as one of the building blocks of the metaverse was powerful enough to trigger immediate response from the world’s biggest retail and consumer brands. In the week following Zuckerberg’s Meta presentation, Nike made patent applications for a number of its logos and slogans, and in December 2021 acquired the virtual sneakers company RTFKT. Nike is one of the growing number of retail brands that are silently preparing their launch into the metaverse where fashion is flaunted not as physical goods but as virtual assets. According to a study, Nike applied for 12 IoT patents in the three months running up to May 2022.