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United Arab Emirates Conversational Commerce Intelligence Report 2023: Market to Grow by 23% to Reach $7.2 Billion in 2023 - Forecasts to 2028 - ResearchAndMarkets.com

The "United Arab Emirates Conversational Commerce Market Intelligence and Future Growth Dynamics Databook - 75+ KPIs on Conversational Commerce Trends by End-Use Sectors, Operational KPIs, Product Off...

Business Wire

DUBLIN: The "United Arab Emirates Conversational Commerce Market Intelligence and Future Growth Dynamics Databook - 75+ KPIs on Conversational Commerce Trends by End-Use Sectors, Operational KPIs, Product Offering, and Spend By Application - Q2 2023 Update" report has been added to ResearchAndMarkets.com's offering.

Conversational commerce industry in United Arab Emirates is expected to grow by 23.0% on annual basis to reach US$7.2 billion in 2023.

The conversational commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 19.4% during 2022-2028. The conversational commerce transaction value in the country will increase from US$7.2 billion in 2023 to reach US$17.5 billion by 2028.

This report provides a detailed data centric analysis of conversational commerce industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of conversational commerce market dynamics, market size and forecast, and market share statistics.

The conversational commerce industry is still in its early stages of development in the United Arab Emirates. However, the robust internet infrastructure coupled with the tech-savvy population is expected to accelerate the growth of the market from the short to medium-term perspective. To compete with the fast-growing online retail segment in the Emirates, offline retailers are also seeking to build an online presence through conversational commerce.

As more and more retailers, across industry verticals, enter the conversational commerce segment to drive customer engagement and sales, the publisher expects the competitive landscape to grow in the Emirati e-commerce industry. This will keep aiding the growth of the conversational commerce market in the United Arab Emirates from the short to medium-term perspective.

Mall of the Emirates brings conversational commerce for shoppers in partnership with WhatsApp

The United Arab Emirates online shopping industry has recorded strong growth over the last three years. Driven by the pandemic, the trend has continued even after the impact of Covid-19 diminished. Consequently, to compete with the growing e-commerce market, offline retailers are turning to conversational commerce in the Emirati nation.

In October 2022, Mall of the Emirates announced that it is allowing shoppers to purchase products from over 350 international and domestic brands entirely through WhatsApp. With conversational commerce, Mall of the Emirates is seeking to bridge the gap between physical stores and digital platforms.

From the short to medium-term perspective, more and more offline retailers and supermarkets are expected to leverage conversational commerce to drive their sales and revenue growth, amid the growing online shopping trends. Lulu Hypermarket has already launched an AI-powered customer experience on WhatsApp in March 2023.

Salem, an AI-powered assistant, will enable shoppers to order products for in-store collection, receive purchase receipts, and track orders. Furthermore, the retailer has also launched a loyalty program on WhatsApp.

As more brands introduce conversational commerce capabilities into their business model, the publisher expects the market to record strong growth over the next three to four years. This will also drive innovation in the fast-growing commerce category.

Emirates-based conversational commerce providers are recording strong growth in sales and revenue

With more brands turning to conversational commerce, providers are gained widespread traction for their tools and services in the United Arab Emirates. This is evident in the sales and volume growth.

Zbooni, one of the leading conversational commerce providers in the MENA region, announced that the firm had recorded strong growth during the 12-month period in 2022. The sales volume for the firm increased by an average of 76% in 2022. Notably, tens of thousands of businesses are using the conversational commerce tools offered by Zbooni.

According to the firm, Zbooni merchants experienced a 42% increase in transactions during the Black Friday event in 2022, compared to the same period in 2021. Furthermore, the firm revealed that November and December were the busiest months for Zbooni. In 2023, the firm is projected to record further growth as conversational commerce continues to grow in demand among merchants and shoppers.

As the market continues to grow, the publisher also expects foreign players to launch their conversational commerce tools and services in the United Arab Emirates market. This will accelerate the competitive landscape and innovation in the fast-growing commerce sector from the short to medium-term perspective.

Key Attributes:

Report Attribute Details
No. of Pages 115
Forecast Period 2023 - 2028
Estimated Market Value (USD) in 2023 $7.24 Billion
Forecasted Market Value (USD) by 2028 $17.54 Billion
Compound Annual Growth Rate 19.3%
Regions Covered United Arab Emirates

Scope

United Arab Emirates Conversational Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators

  • Transaction Value
  • Transaction Volume
  • Average Value Per Transaction

United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type

  • AI-Based Virtual Assistants
  • Non-Intelligent Chatbot

United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type

  • Chatbots
  • Digital Voice Assistants
  • OTT Messaging
  • RCS Messaging

United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Chatbots

  • Web-Based
  • App-Based

United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Key Sectors

  • Retail Shopping
  • Travel & Hospitality
  • Online Food Service
  • Media and Entertainment
  • Healthcare and Wellness
  • Financial Services
  • Technology Products and Services
  • Other Sectors

United Arab Emirates Conversational Commerce Industry Market Size and Forecast in Key Sectors by Product Offering

  • Retail Shopping By Chatbots
  • Travel & Hospitality By Chatbots
  • Online Food Service By Chatbots
  • Media and Entertainment By Chatbots
  • Healthcare and Wellness By Chatbots
  • Financial Services By Chatbots
  • Technology Products and Services By Chatbots
  • Other Sectors By Chatbots
  • Retail Shopping By Digital Voice Assistants
  • Travel & Hospitality By Digital Voice Assistants
  • Online Food Service By Digital Voice Assistants
  • Media and Entertainment By Digital Voice Assistants
  • Healthcare and Wellness By Digital Voice Assistants
  • Financial Services By Digital Voice Assistants
  • Technology Products and Services By Digital Voice Assistants
  • Other Sectors By Digital Voice Assistants
  • Retail Shopping By OTT Messaging
  • Travel & Hospitality By OTT Messaging
  • Online Food Service By OTT Messaging
  • Media and Entertainment By OTT Messaging
  • Healthcare and Wellness By OTT Messaging
  • Financial Services By OTT Messaging
  • Technology Products and Services By OTT Messaging
  • Other Sectors By OTT Messaging
  • Retail Shopping By RCS Messaging
  • Travel & Hospitality By RCS Messaging
  • Online Food Service By RCS Messaging
  • Media and Entertainment By RCS Messaging
  • Healthcare and Wellness By RCS Messaging
  • Financial Services By RCS Messaging
  • Technology Products and Services By RCS Messaging
  • Other Sectors By RCS Messaging

United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Organization Size

  • Large Enterprise
  • Medium-Sized Enterprise
  • Small Enterprise

United Arab Emirates Total Spend on Conversational Commerce Market

United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Spend on Application

  • Software Application
  • IT Services
  • Consulting Services

United Arab Emirates Conversational Commerce Spend on Key Sectors

  • Retail Shopping
  • Travel & Hospitality
  • Online Food Service
  • Media and Entertainment
  • Healthcare and Wellness
  • Financial Services
  • Technology Products and Services
  • Other Sectors

Reasons to buy

  • In-depth Understanding of United Arab Emirates Conversational Commerce Market Dynamics: Understand market opportunities and key trends along with forecast in United Arab Emirates.
  • Insights into Opportunity by end-use sectors: Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
  • Insights into Opportunity by products: Get market dynamics by key products of conversational commerce.
  • Develop Market Specific Strategies: Identify growth segments and target specific opportunities.
  • Develop proactive and lucrative business strategies through market intelligence and forward-looking analysis of conversational market opportunities in United Arab Emirates.

For more information about this report visit https://www.researchandmarkets.com/r/q44ts1

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Fonte: Business Wire

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