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eCommerce Software - Morocco

Morocco

In Morocco, the eCommerce Software market is forecasted to achieve a revenue of US$4.05m by 2024.
This projection indicates an annual growth rate (CAGR 2024-2029) of 5.13%, leading to a market volume of US$5.20m by 2029.
Additionally, the average Spend per Employee in the eCommerce Software market is expected to reach US$0.31 in 2024.
When compared globally, it is worth noting that United States is expected to generate the highest revenue in the eCommerce Software market, with an estimated US$4,364.00m in 2024.
Morocco's eCommerce software market is experiencing a surge in demand due to the country's growing digital economy and increasing internet penetration.

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

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Analyst Opinion

Morocco, a country known for its rich culture and history, has also been experiencing a surge in its eCommerce software market.

Customer preferences: Moroccan customers have shown a growing interest in online shopping, with a particular focus on fashion and electronics. The convenience of shopping from home and the ability to compare prices easily has made eCommerce an attractive option for many Moroccans. Additionally, the rise of mobile phone usage in the country has led to an increase in mobile commerce.

Trends in the market: The eCommerce software market in Morocco has been growing steadily, with an increasing number of businesses adopting eCommerce platforms to reach a wider customer base. The demand for eCommerce software has also been driven by the rise of social media, which has become a popular marketing tool for businesses in the country. Moroccan eCommerce platforms have also been focusing on improving logistics and payment systems to cater to the needs of their customers.

Local special circumstances: Morocco's strategic location at the crossroads of Europe, Africa, and the Middle East has made it an attractive destination for international businesses looking to expand their reach. The government has also been actively promoting eCommerce in the country, with initiatives such as the Digital Morocco 2020 plan, which aims to develop the country's digital infrastructure and increase eCommerce adoption.

Underlying macroeconomic factors: Morocco's economy has been growing steadily in recent years, with a focus on diversification and modernization. The country has also been investing in infrastructure development, which has led to improved logistics and transportation networks. These factors have created a conducive environment for eCommerce growth in the country. Additionally, Morocco's young and tech-savvy population has been a driving force behind the adoption of eCommerce in the country.

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.