Platform Delivery - Nigeria

Nigeria

Highlights

The Platform Delivery market in Nigeria is anticipated to experience significant growth in the coming years.
According to projections, the market's revenue is expected to reach US$735.70m in 2024.
This growth is driven by an estimated annual growth rate (CAGR 2024-2029) of 11.89%, resulting in a projected market volume of US$1.29bn by 2029.
In terms of user adoption, the number of users in the Platform Delivery market is expected to reach 31.3m users by 2029.
This indicates a steady increase in user penetration, which is projected to be 8.0% in 2024 and is expected to rise to 12.2% by 2029.
The average revenue per user (ARPU) in the Platform Delivery market is estimated to amount to US$40.28.
This metric provides insight into the revenue generated by each user on average.
When comparing the Platform Delivery market globally, it is noteworthy that China is expected to generate the highest revenue, reaching US$166.80bn in 2024.
Additionally, China boasts the highest user penetration rate in the market, projected to be 52.8%.
These figures and trends highlight the potential for growth and opportunities within the Platform Delivery market in Nigeria.
Nigeria's platform delivery market is experiencing a surge in demand due to the rapid growth of e-commerce and the need for efficient last-mile logistics.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Platform Delivery market in Nigeria has experienced significant growth in recent years, driven by several factors.

Customer preferences: One of the primary drivers of growth in the Platform Delivery market in Nigeria is changing customer preferences. As consumers increasingly turn to online shopping and mobile commerce, there is a growing demand for fast, reliable, and convenient delivery services. This has led to the emergence of a number of new players in the market, as well as increased competition among existing providers.

Trends in the market: One trend that has emerged in the Platform Delivery market in Nigeria is the increasing use of technology to streamline the delivery process. Many providers are investing in new technologies such as GPS tracking, real-time updates, and automated dispatch systems to improve efficiency and reduce delivery times. Another trend is the growing popularity of same-day and on-demand delivery services, which allow customers to receive their orders within hours or even minutes of placing them.

Local special circumstances: The Platform Delivery market in Nigeria has some unique challenges that providers must navigate. One of the biggest challenges is the country's poor infrastructure, which can make it difficult to deliver goods quickly and efficiently. Additionally, Nigeria has a large and diverse population with varying levels of access to technology and online services, which can make it challenging for providers to reach all potential customers.

Underlying macroeconomic factors: The growth of the Platform Delivery market in Nigeria is also being driven by broader macroeconomic factors. Nigeria has a large and rapidly growing population, with a significant portion of the population under the age of 30. This demographic shift is driving increased demand for online services, including e-commerce and delivery. Additionally, Nigeria has a rapidly growing middle class with increasing purchasing power, which is fueling demand for a wide range of goods and services. Finally, Nigeria has a large and growing economy, which is attracting investment and driving innovation in a wide range of industries, including logistics and delivery.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us 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 relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.