MEA Logistics Market Report 2022: Projected to Reach US$ 89.85 Billion by 2028 with a CAGR of 7.9%
DUBLIN, June 27, 2022 /PRNewswire/ -- The "MEA Logistics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Model and End Use" report has been added to ResearchAndMarkets.com's offering.
The logistics market was valued at US$ 45.00 billion in 2021 and is projected to reach US$ 89.85 billion by 2028; it is expected to grow at a CAGR of 7.9% from 2021 to 2028.
Digitalisation brought an significant change in the MEA logistics market, specifically into the logistics sector. The technology has negative impacts in the logistics market. For instance, the demand for the cash management service is declining due to the cashless payments methods adopted by the consumers. The advent of contactless payments, cashless payments, mobile payments, and others are transforming cash transactions into cashless.
Retailers or manufacturers are adopting new payment technologies as safe and more convenient payment processes. The demand for digital payment solutions such as QR code scan payments and smart card contactless payments is increasing in domestic retail sector with the rising consumption of smartphones as well as expanding base of techno-savvy customer base.
For example, Barra owns Angola's Dande and Lobito, Ngeria's Lekki, Tanzania's Musoma, and Kenya's Lamu. Mining, which accounts for a third of the GDP, is extremely important to the economy. On the other hand, Egypt and Algeria have the greatest production values. They are recognized for their lack of developed logistical corridors and limited international engagement. African logistics firms aim to connect Africa's rural populations to regional supply networks and megacities.
MEA stands amongst the most highly urbanized regions, which also faces the construction of new cities. With response to the continuous shift in global economic power has positioned the Middle East firmly as the world's fastest-growing region, including Dubai and Abu Dhabi intending to turn into global hubs.
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