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eCommerce Software - Angola

Angola

The eCommerce Software market in Angola is anticipated to witness a substantial growth in revenue, with projections indicating that it will reach US$3.15m in 2024.
Furthermore, it is expected to maintain a steady annual growth rate of 3.99% (CAGR 2024-2029), resulting in a market volume of US$3.83m by 2029.
In terms of the average Spend per Employee, it is estimated to reach US$0.20 in 2024 for the eCommerce Software market in Angola.
When compared globally, it is noteworthy that United States is expected to generate the highest revenue, amounting to US$4,364.00m in 2024.
Angola's eCommerce software market is experiencing rapid growth as more businesses recognize the potential of online sales.

Key regions: China, Japan, Germany, United Kingdom, France

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Analyst Opinion

The eCommerce Software market in Angola has been steadily growing in recent years, with an increasing number of businesses adopting digital solutions to reach customers and expand their operations.

Customer preferences: Angolan consumers are increasingly turning to online channels to purchase goods and services due to the convenience and ease of use. The rise of mobile phone usage in the country has also contributed to the growth of eCommerce, as more people have access to the internet and can shop online from anywhere at any time.

Trends in the market: One of the key trends in the Angolan eCommerce Software market is the adoption of cloud-based solutions, which offer greater scalability and flexibility for businesses. Another trend is the increasing use of social media platforms for eCommerce, with many businesses leveraging platforms like Facebook and Instagram to reach new customers and promote their products.

Local special circumstances: Angola has a relatively underdeveloped physical retail infrastructure, which has created an opportunity for eCommerce businesses to fill the gap and provide consumers with access to a wider range of products. However, the country's limited internet infrastructure and high data costs remain a challenge for eCommerce businesses looking to reach a wider audience.

Underlying macroeconomic factors: Angola's economy has been heavily impacted by the COVID-19 pandemic, with many businesses forced to close their doors or reduce operations. This has led to an increased focus on eCommerce as a way to reach customers and generate revenue. Additionally, the government has implemented policies to promote digitalization and modernization in the country, which has created a favorable environment for eCommerce businesses to thrive.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.