Rapid increase in e-commerce transactions and the expansion of internet access across the region is driving the Middle East digital marketplace market demand during the forecast period.

Middle East Digital Marketplace Market size was valued at USD 13.22 billion in 2023, and is predicted to reach USD 20.41 billion by 2030, at a CAGR of 6.2% from 2024 to 2030, according to the new research by Next Move Strategy Consulting.

The rapid increase in e-commerce transactions and the expansion of internet access are key factors driving the growth of the digital marketplace sector in the Middle East. As consumers increasingly opt for online shopping due to its convenience, variety, and accessibility, e-commerce sales are experiencing a global surge. At the same time, the widespread availability of internet connectivity, particularly in previously underserved regions, is enabling more people to access digital marketplaces.

According to the Dubai Chamber of Commerce and Industry, e-commerce is projected to generate USD 8 billion in sales by 2025, fueled by the UAE's nearly universal internet and mobile phone penetration.

With e-commerce flourishing and internet access becoming more widespread, the digital marketplace sector is poised for continuous expansion, offering unprecedented opportunities for both businesses and consumers.

However, the market expansion encounters challenge due to cybersecurity threats and consumer trust issues. When consumers perceive online platforms as vulnerable to cyberattacks, they hesitate to share personal information or conduct transactions due to concerns about privacy breaches or financial harm.

This lack of trust lead to decreased usage of digital marketplaces and reluctance to engage in online shopping, thereby hindering the Middle East digital marketplace market growth. Additionally, incidents of data breaches or fraudulent activities damage the reputation of digital marketplaces, discouraging both consumers and businesses from active participation in the online marketplace environment.

On the other hand, the integration of Augmented Reality (AR) and Virtual Reality (VR) technologies presents an opportunity for online marketplaces to offer immersive and interactive shopping experiences. These technologies allow consumers to visualize products in real-world settings, virtually try them before making a purchase, and explore dynamic virtual environments.

Such immersive experiences not only enhance customer engagement and foster brand loyalty but also drive sales. Moreover, AR and VR enable businesses to effectively showcase their products by providing detailed information and personalized recommendations to users. Thus, the integration of AR and VR technologies would transform the future of digital marketplaces market by delivering innovative and compelling shopping experiences.

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Several key market players operating in the Middle East digital marketplace industry include Amazon.com, Inc., Walmart Inc., eBay Inc., Alibaba Group Holding Limited, Rakuten Group, Inc., Sea Limited, MercadoLibre, Inc., JD.com, Inc., Etsy, Inc., Allegro.eu, Kogan.com, SEEK, Carsales, REA Group Ltd., Airtasker Ltd. and others.

Key Insights from the Middle East Digital Marketplace Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the Middle East digital marketplace market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The report provides an analysis of the Middle East digital marketplace market share and competitive landscape of key players in the industry.