Market Insights eCommerce Online Food Delivery Meal Delivery

Platform Delivery - Togo

Togo

The Platform Delivery market in Togo is anticipated to witness substantial growth in the coming years.
According to projections, the market's revenue is estimated to reach US$238.90k in 2024.
Furthermore, it is expected to showcase a promising annual growth rate (CAGR 2024-2029) of 15.74%, resulting in a projected market volume of US$496.10k by 2029.
In terms of user base, the number of users in the Platform Delivery market is projected to amount to 79.9k users by 2029.
Initially, in 2024, the user penetration is expected to be 0.5%, but it is anticipated to increase to 0.8% by 2029.
The average revenue per user (ARPU) is estimated to be US$5.27.
This metric provides valuable insights into the revenue generated by each user in the Platform Delivery market.
When considering the global landscape, China is predicted to generate the highest revenue in the Platform Delivery market, amounting to US$165,200.00m in 2024.
Additionally, China is expected to have the highest user penetration rate in the market, with a projected rate of 52.3%.
These numbers and projections highlight the potential and growth opportunities present in the Platform Delivery market in Togo.
Togo's platform delivery market is experiencing a surge in demand, driven by the country's growing e-commerce sector.

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Analyst Opinion

The Platform Delivery market in Togo has been experiencing significant growth in recent years.

Customer preferences: Togolese customers are increasingly turning to online shopping and delivery services due to the convenience and time-saving benefits they offer. This has led to a rise in demand for platform delivery services in the country. Customers in Togo also place a high value on affordability, which has led to the emergence of several local platform delivery companies that offer competitive pricing.

Trends in the market: One of the major trends in the Platform Delivery market in Togo is the increasing adoption of mobile technology. With the majority of Togolese accessing the internet through their mobile phones, platform delivery companies have been quick to develop mobile applications that allow customers to easily place orders and track their deliveries in real-time. Another trend is the emergence of hyper-local delivery services that specialize in delivering goods within specific neighborhoods or regions.

Local special circumstances: Togo has a relatively small population and a low GDP per capita, which has made it challenging for international platform delivery companies to establish a strong presence in the country. As a result, local companies have been able to gain a foothold in the market and compete effectively against larger international players.

Underlying macroeconomic factors: Togo has been experiencing steady economic growth in recent years, driven by a combination of government investments in infrastructure and private sector development. This has led to an increase in consumer spending power, which has in turn fueled demand for platform delivery services. Additionally, Togo has a relatively young population, with a high percentage of the population under the age of 30. This demographic is more likely to adopt new technologies and embrace online shopping and delivery services.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.