Market Size of Kuwait E-commerce Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 14.28 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Kuwait Ecommerce Market Analysis
The Kuwait E-commerce Market is expected to grow at a CAGR of above 14.28% during the forecast period, 2022-2027. The e-commerce industry is growing exponentially as more e-commerce businesses step into the country. The digital economy is significantly developing with access to the internet made available across the globe. Various e-commerce market vendors are expanding their business in Kuwait to meet the growing demand for online retailing.
- The COVID-19 crisis accelerated an expansion of e-commerce towards new firms, customers, and types of products. It has provided customers with access to a significant variety of products from the convenience and safety of their homes. It has enabled firms to continue operating despite contact restrictions and other confinement measures.
- Several factors are compelling the growth of the e-commerce market in Kuwait, such as high internet penetration, growing usage of 5G networks, increase online shopping, various e-commerce startups entering the country's e-commerce market, and other such factors.
- According to International Trade Administration, Kuwait has over four million Internet users. However, e-commerce remains predominately limited to online banking and financial brokerage services. As it stands today, most Kuwaiti companies do not conduct online business-to-business or business-to-consumer transactions.
- The Kuwait Government's e-Government website offers services for both enterprises and individuals. Based on the United Nations Commission on International Trade Law (UNCITRAL) regulations on electronic commerce, an electronic signature law has been authorized. Moreover, e-signatures are being used by some government organizations.
- Many organizations in e-commerce are entering Kuwait's market. For instance, in April 2022, Raha, an e-grocery platform, officially announced its launch in Kuwait's market. It is a fully automated e-grocery platform, offering a wide range of groceries, household essentials, and fresh produce. It also features Kuwait's first fully-automated robotics-fulfillment center and one of the first centers of its kind globally, with a chilled warehouse capability.
