Iraq E-Commerce Logistics and Warehouse Market is Expected to Gain Momentum by Growth in Online Shopping Platforms along with Introduction of New Technological Advancement: Ken Research
1. E-Com Orders Delivered growing at a robust CAGR with Increasing Number of Online Shoppers & Entrance of Major Retailers in Iraq
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With the aid of developing technology, the market will play a significant role in the sector as applications, AI, and a plethora of other tools such as drones, electric vehicles, automated systems, high-tech security, and effective management systems make the processes for logistics companies and their clients much easier.
2. E-Commerce Market in Iraq generated a Gross Merchandise Value of more than $1 Bn in 2021, owing to the rising Internet and Smart Phone Penetration along with the growing Middle Class Population
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A key element for the country’s e-commerce market’s continuous growth is the improvement of telecommunications infrastructure, such as the deployment of a 5G network. Aside from Baghdad, businesses are gradually expanding into neighbouring regions like Erbil and Basra. In comparison to 39% of internet users aged 35–45, almost 59% of those aged 18–24 spend more than 5 hours online.
3. E-Commerce Logistics Market expected to grow at a positive CAGR by 2026 basis Revenue largely due to growth in online shopping & entry of new players.
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Iraq E-commerce market expected to grow at double digit CAGR during 2022-2026, reaching more than USD 3 Bn by 2026. Broader product selection, the entry of new players and innovation in business models to further lead the growth. Covid-19 pandemic has positively impacted the e-commerce market in Iraq which will make many more brick-motor retailers to transform their business to Omni-channel retailing in the future. The last mile delivery approach used by e-commerce logistics businesses will be crucial to their future success. Urban deliveries should indeed be accomplished more rapidly provided by mobile depots, which will transport the day’s goods from fulfilment facilities to the city centre for last-mile delivery.