Indonesia Car Finance Market Forecast to 2024: Ken Research

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How Indonesia Car Finance Market Is Positioned?

Indonesia Car finance market has been identified as in its late growth stage. During the last 5 years, the Car finance market has risen as demand and supply for automotive grew at a decent rate year on year. Lenders institutions in this period have evolved to provide a range of innovative products and services to further improve attraction and penetration of the market. Car finance gained dominance as people started accepting loans as a way of buying their cars majorly because of interest rates were following a declining trend; innovative finance products by Fintech institutions and ease of terms for a loan were prevalent. The majority of the expansion in auto finance sales in these years came from financial institutes such as banks and Multi Finance Institutions. Online entities such as Lead Generation Companies and Aggregators have also started gaining prominence.

The Car finance market has increased to approximately USD ~ billion in 2019P from USD ~ billion in 2013 registering a CAGR of ~% during the same period. The credit disbursed in the Indonesia Car Finance market has increased from USD ~ billion in 2013 to USD ~ billion in 2019P. The number of vehicles financed increased from ~ in 2013 to ~ in 2019P. There have been various factors responsible for the growth. One of the major factors has been the growing level of sales of used vehicles in Indonesia along with a vast array of financing options being offered by lenders. Moreover, convenience in lending is being improved as online lending ecosystems contribute to the rising total addressable market in vehicle finance and lenders offer highly customized products catered to the borrower’s needs. The Issuance of digitally Advanced Products, being offered by various Fintech Institutions, also acts as a Catalyst to the Growth of Industry.

Indonesia Car Finance Market Segmentation

By New and Used Vehicle: In Indonesia, the Car loan is disbursed for both new and used vehicles. Credit Disbursed for New Car finance was observed to dominate the market during 2019P. New Vehicle Finance enjoys a majority share in the market owing to the advantages that come handy with the new vehicles that include higher resale value and better financing schemes. Used vehicles capture a comparatively lower share in the market. However, in terms of Units Financed, they have a bigger share.

By Tenure of Loan (New Car and Used Cars) : The loan tenure selected by the customer depends on factors such as the price of the car, income level of the customer, flexible scheme options and other social factors such as family size and lifestyle of the individual. The 4 Year Tenure of Loan is dominant in the Market for new Cars, while the 3 Year tenure comes in second place. Used car Finance customers, generally tend to go for the 1-year loan as the value of financing required is not really high and that helps them to repay the loan quickly.

By Banks, NBFCs and Captives (New Car and used Cars): Commercial banks have accounted for a Major Share in the Overall Car Finance Market of Indonesia on the basis of new Cars Financed. The second position in the market was captured by NBFCs and Multifinance Companies, who operate in the market, the nonfinancial institutions' Captive finance companies have contributed the remaining part of the credit disbursed for new car financing in 2019P.

Competitive Landscape in the Indonesia Car Finance Market

Competition in the Indonesia finance market is extremely fragmented. The Major lending institution types in the market are Banks, Captives, and Multi Finance Companies. Banks hold a majority share in the lending space for New Cars, and NBFCs tries to majorly provide services to the Used Cars segment.  Some of the leading banking institutions include Bank of Central Asia (BCA Finance), Mandiri Bank (Mandiri Tunas Finance), Danamon Bank (Adira Dinamika Finance), CIMB Niaga. Stiff competition was observed in the case of Captives including Toyota Astra Finance (Toyota and Daihatsu), Dipo Star Finance (Mitsubishi), Bussan Car Finance (Yamaha), and Suzuki Car Finance (Suzuki). Some NBFC institutions such as Adira Dinamika have been seen to register double-digit growth, representing the trend of the rapid growth of credit unions. Parameters on the basis of which companies compete in the market include interest rate, digitalization, and ease of transaction, distribution network, service portfolio, repayment methods available and others.

Indonesia Car Finance Market Future Outlook and Projections

Over the forecast period, Indonesia The car Finance market is expected to be positive if there is a continuous need for Car among the population. Multiple fin-tech startups have also come up in the country’s financial sector which poses a threat to conventional finance companies and banks. These startups have developed products to augment the digitalization of the banking sector. This includes digital payments, online lending, online aggregation, and remote banking facilities which made the customer lending process uncomplicated and simple further facilitating the car finance market in the country. Banks and Captives are expected to continue their leading position in the market due to their vast networks and range of products. In addition to that, the Indonesia market is likely to witness a decline in Car sales which threatens the growth of a number of loans issued in the future.

Key Segments Covered:-

By New and Used Cars

New cars

Used cars

By Lender Institutions

Banks

Captives

Multi Finance Companies (NBFCs)

By Loan Tenure between New and Used Cars

Two Years

Three Years

Four Years

Five Years

One year

Five Years or more

Key Target Audience

Existing Car Finance Companies

Banks

Captive Finance Companies

Credit Unions

Private Finance Companies

New Market Entrants

Government Organizations

Investors

Carmobile Associations

Carmobile OEMs

Time Period Captured in the Report:-

Historical Period: 2013-2019P

Forecast Period: 2019P-2024

Key Companies Covered:-

Banks

Bank of Central Asia (BCA Finance)

Mandiri Bank (Mandiri Tunas Finance)

Danamon Bank (Adira Dinamika Finance)

CIMB Niaga

Bank Rakyat Indonesia

Bank Negara Indonesia

Megabank (WOM)

NBFCs

ACC Finance

BFI Finance

Oto Multiartha

MPM Finance

Batavia Prosperindo

Radana Bhaskara

Indomobil Multi Jasa

Mandala Multifinance

Tifa Finance

Adira Quantum Multifinance

Clemont Finance Indonesia

Captives

Toyota Astra Finance (Toyota and Daihatsu)

Dipo Star Finance (Mitsubishi)

Bussan Auto Finance (Yamaha)

Suzuki Auto Finance (Suzuki)

Key Topics Covered in the Report:-

Dipo Star Finance Market Revenue Indonesia

NBFCs share Indonesia Credit Disbursed in USD Million

Number of Used and New Cars Sold in Indonesia

Pasar Keuangan Mobil Indonesia

Industri Keuangan Mobil Indonesia

Pasar Keuangan Mobil Indonesia

Industri Keuangan Mobil Indonesia

Laporan Penelitian Pasar Keuangan Mobil Indonesia

Laporan Penelitian Industri Pembiayaan Mobil Indonesia

Suzuki Indonesia Auto Finance Market Revenue

BFI Indonesia Car Finance Market Report

Radana Bhaskara Auto Finance Market Revenue

Indonesia Car Finance Market

For More Information On The Research Report, Refer To Below Link:-

Indonesia Car Finance Market Outlook

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Vietnam Auto Finance Market Outlook To 2023 - By Loan Tenure, By Type Of Institution (Commercial Banks And Non- Banking Financial Institutions) And By Type Of Vehicle (Passenger And Commercial)

Thailand Auto Finance Market Outlook To 2023 - By Loan Tenure, By Commercial Banks, Non- Banking Financial Institutions, Auto OEMs Captives; By New And Used Passenger And Commercial Vehicles

Philippines Auto Finance Market Outlook To 2023 - By Banks And Nbfcs Including Captive Units (Auto Loan Portfolio And Motor Cycle Loan Portfolio), By New And Used Motor Vehicles, By Motor Vehicle Financed (Passenger And Commercial Vehicles), By Loan Time Period.

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@Kenresearch.Com
+91-9015378249

Rise in Demand for Aesthetic Procedures Expected to Drive Microsurgery Market over the Forecast Period: Ken Research

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Microsurgery is a surgical procedure which combines magnification with advanced diploscopes, specialized precision tools and numerous operating techniques. The technique is used to operate on minuscule structures, often requires miniaturized instruments, and has myriad uses. The main purposes of microsurgery are to transplant tissue from one part of the body to another and to reattach amputated parts. It helps to restore function after trauma, heal wounds, and restore form after cancer. It can assist in the recovery & healing of a wide array of medical issues, from emergency amputations to reconstruction of the human breast.

According to study, “Microsurgery Market Information By Procedure (Transplantation, Replantation, Free Flap Tissue Transfer, Vascular Anastomoses), Application (General Surgery, Neurosurgery, Ophthalmology, Reconstructive And Plastic Surgery, Oncology), Equipment (Microsurgical Instruments, Microscope, Suture Materials), End User (Hospitals And Clinics,Ambulatory Surgical Centers, Research Organizations), And By Region-Global Industry Forecast To 2023” the key companies operating in the microsurgery market are Medtronic Plc., Ethicon Inc., Tisurg Medical Instruments Co., Ltd., Stryker Corporation, Alcon (Novartis), Smith & Nephew, S&T AG, a B. Braun Company, Aesculap, Inc., Carl Zeiss Meditec AG, Microsurgery Instruments, Inc. Peter Lazic GmbH, Zimmer Biomet Holdings, Synovis Micro Companies Alliance, Inc.

Based on procedure, microsurgery market is segmented into free flap tissue transfer, transplantation, vascular anastomoses and replantation. Replantation is further sub-segmented into fingers, nose, and thumbs, ear and scalp. Based on equipment type, market is segmented into microsurgical instruments, suture materials and microscope. Based on application market is segmented into general surgery, ophthalmology, neurosurgery, oncology and reconstructive & plastic surgery. Neurosurgery segment is estimated to witness lucrative growth rate owing to increase in numbers of patients with neurological diseases, rise in healthcare spending on brain disorders, growth in aging populations and increase in awareness of various neurological disorders during the forecast period. In addition, based on end-user, market is segmented into hospitals & clinics, research organizations, ambulatory surgical centers and others. Hospital & clinics segment holds major share in market due to rise in use of robots to improve healthcare outcomes.

The microsurgery market is driven by growth in demand & cases of microsurgery, followed by rise in acceptance of minimally invasive surgeries, growth in per capita income, rise in number of organ transplants, and increase in the prevalence of diseases for instance breast cancer, barrette’s esophagus, melanoma & non-melanoma skin cancer, and prostate cancer. However, rise in complications & side-effects, scarcity of trained professionals and high cost of microsurgery may impact the market. Moreover, rise in technological advancement with the assistance of research & development (R&D) is a key opportunity for market.

Based on geography, the North-American region holds major share, followed by European region in microsurgery market owing to rise in demand for aesthetic procedures, growth in healthcare infrastructure and increase in prevalence of diseases for instance cataract and arthritis in the region. The Asian-Pacific region is expected to witness substantial growth due to rise in number of research activities and increase in geriatric population over the forecast period. It is projected that the market will be reached at fast pace as a result of growth in need for better disease treatment coupled with rise in advances in surgical procedures during the forecast period.

To know more, click on the link below:-

Global Microsurgery Market Research Report

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Global Microsurgery Market Analysis, Companies Profiles, Size, Share, Growth, Trends and Forecast to 2025

North America Microsurgery Market Analysis, Companies Profiles, Size, Share, Growth, Trends and Forecast to 2025

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

ankur@kenresearch.com

+91-9015378249

Asia Credit Cards Market Forecast to 2025: Ken Research

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How Asia Cards and Payments Market Is Positioned?

In Asia, most of the countries such as India, Indonesia and others were dominated by cash almost a decade ago and have witnessed advancement towards digital transactions both in terms of a number of transactions and volume in recent years. Asian countries are making huge investments in digital technology in order to transform the financial industry most of which is in-house. The young population and millennials have been the major driver for an increase in the payments via credit cards as they are embracing advanced technology and new products thereby, helping the credit card users to move away from traditional methods of payments. The young population who are well versed with the existing banking infrastructure and smartphone technology in Asia are key reasons to gain a competitive advantage by delivering innovative services ahead of their competitors.

• The total number of cards in circulation was witnessed to increase from ~ from 2013 to ~ in 2018, thus displaying a five-year CAGR of ~%. The competitive growth in the credit card industry of Asia was driven by deep client partnerships, strong cross-border-growth, significant long-term growth opportunities, and tailored strategies.
• Banks have been highly enthusiastic about implementing new financial technology to reach and engage with their customers in order to promote the use of digital methods of payment throughout Asia.
• Asia credit cards market remains highly competitive and attractive driving it towards a cashless economy. Banks have tightened regulations to address rising defaults therefore; credit card issuance fell sharply in the early years of the current decade. The growth in credit cards in circulation picked up for both personal and commercial cards in 2018, as banks also looked to increase their revenue from the commercial space.
• Most of the countries such as India, South Korea, China, and others are being transformed into a cashless economy. The total transaction value showcased a growth of ~% in the year 2018 with transactions amounting to USD ~ billion. FinTech players look at developing apps to support credit card payments in Asia to increase the number of cards in circulation and eventually the number and value of transactions.

Credit Cards Market Size

Asian credit card issuers offer multi-branded cards with installment, use award, and loyalty-point features. Point-of-sale machines are found in almost all the stores around the continent, which has made cards as one of the most convenient methods of payment. The usage of cards has been steadily growing with the number of cards in circulation increased at a CAGR of ~% from 2013 to 2018.

Growth is majorly driven by usage amongst the younger population (about ~% of millennials aged 25-34 years tend to use credit cards more than any other age group). Low non-performing loans indicating healthy growth in credit card usage and low payment default rates. The credit card reward and loyalty program is the most significant growth driver for a surge in credit card transaction value and transaction volume. The card issuers and operators have been partnering with member merchants in order to increase the customer acquiring rate. The member merchants provide the cardholders with discounts on the purchases or opportunity to earn reward points which can be redeemed later on shopping/air ticket purchases and many more.

The advancement in technology - such as RIFD / contactless credit cards, chip, and pin cards have contributed to the increase in the Transaction Value. It has shown an absolute growth of ~% since 2013. The highest year on year growth was witnessed in the year 2018 of ~%, as people were more motivated to make credit card transactions because the card loyalty reward points program was on the rise by the issuing bank. Credit card transaction value increased from USD ~ million in 2013 to reach USD ~ million in the year 2018 at a CAGR of ~% during the review period 2013-2018.

Emerging markets in South Asia, on the other hand, is witnessing a slow transition from a cash-driven to a digital payment society. Smartphone-based mobile money services are slowly gaining momentum as part of the payments ecosystem. However, debit cards dominate the plastic card market, and the recent association with international payment networks for QR-based payments has paved the way for players to offer new solutions in this space.

Key Segments Covered:-

Credit cards

Value of transaction by Issuer and Operator

Volume of a transaction by Issuer and Operator

Number of Credit Cards in Circulation by Issuer and Operator

Commercial and Personal Credit Cards

Transactions at ATM and POS

Countries

India

Indonesia

Malaysia

Singapore

Philippines

South Korea

China

Japan

Other Countries (Vietnam, Thailand, Hong Kong, Taiwan and Rest)

Key Target Audience

Credit/ Debit Card Operator

Credit/ Debit Card Issuers

Prepaid Card Issuers/ Operators

Local/ Foreign Bank

Reward/ Loyalty Program Business Operators

Payment gateway provider

Credit/ Debit Card Issuer

POS Device Manufacturers

Debit/ Credit Card Manufacturing companies

ATM Manufacturing Entities

Regulatory Authorities

Time Period Captured in the Report:-

Historical Period: 2013-2018

Forecast Period: 2018-2025

Companies Covered in Asia Credit Card Market:-

Banks (Issuer)

HDFC, India

Bank Mandiri, Indonesia

Bank CIMB Niaga, Indonesia

UOB, Singapore

DBS, Singapore

Citibank BHD, Malaysia

Malaysian Banking, Malaysia

Shinhan Card, South Korea

KB Kookmin, South Korea

BDO Unibank, Philippines

Metropolitan Bank, Philippines

ICBC Bank, China

China Merchants Bank, China

JCB, Japan

Credit Saison, Japan

Others (SBI India, Bank CIMB Niaga Indonesia, Bank Mega, Citibank, HSBC Holdings Plc, Rizal Commercial Banking CORP (RCBC) and Rest)

Operators

Visa Inc.

MasterCard

American Express

Bank Central Asia

Union Pay International

Others (Shinhan Card, BC Card, Petron Corp, Taiwan Rakuten Card and Rest)

Key Topics Covered in the Report:-

MasterCard Asia Credit Cards Market Revenue Share

RuPay Performance in India

India Online Payment System Market

Credit Card Frauds in Asia

Personal and Commercial Credit Cards Market Asia

Contactless Credit Cards in Asia

NFC Credit Cards Market in Asia

Cost of Manufacturing a Credit Card

Fintech Adoption Credit Card Asia Market

Asia Credit Card Transaction Fees

Credit Card Transaction Failure in Asia

Credit Card Security in Asia

For Information Click On the Below Mentioned Link:-

Asia Credit Cards Market Research Report

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Kuwait Remittance Market By Inbound And Outbound International Remittance, By Mode Of Transfer (Electronic And Cash), By Channel (Bank And Non-Bank), By Bill Payment Methods (Cash, Credit/Debit Card/E-Wallet And Electronic Transfers), By Types Of Payment (Grocery Bills, Utility Bills, Fuel Bills, DTH And Broadband Bills And Mobile Recharge Bills) And By Regions - Outlook To 2022

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Increase in Number of Healthcare Organizations Expected to Drive Global & US EHR/EMR Market over the Forecast Period: Ken Research

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EHR stands of Electronic Health Record (EHR) and EMR stands of Electronic Medical Record. EHR/EMR define as systematic collection of patients’ electronically-stored health information in a digital format. The digitally-stored healthcare information is shareable across different healthcare settings. It typically includes information for instance medical history, radiology images, billing information, medications & allergies, patient demographics, and others. It improves the quality & coordination of care (medical services).

The key benefits are improved patient care, better data tracking over time, streamlined sharing of updated & real-time information and timely reminders for patient screenings & preventative checkups.

According to study, “Global & US EHR/EMR Market Information By Component (Software, Services & Consulting, Hardware), By Application (Specialty Based, Cardiology, Neurology, Oncology, Radiology, General Based), By Mode of Delivery (On-Premise Model, Cloud-Based), By End User (Hospitals, Ambulatory Care, Diagnostic Centers, Others), By Region (Americas, Europe and Asia-Pacific) – Global Forecast till 2023” the key companies operating in the global & US EHR/EMR market are Allscripts Healthcare Solutions Inc., Advanced Data Systems Corporation, Koninklijke Philips N.V., Cerner Corporation, Epic Systems Corp., eClinical Works, NextGen Healthcare, Praxis EMR, Medical Information Technology Inc., 4Medica, GE Healthcare, Athenahealth Inc., CureMD Corporation, Computer Programs and Systems, Inc., Quality Systems, Inc., Greenway Health, LLC.

Based on component type, global & US EHR/EMR market is segmented into services & consulting, software, and hardware. Software involves several provisions of sharing medical records by the application of information technologies and telecommunication to remotely located patients. Based on mode of delivery, market is segmented into cloud-based and server-based or on-premise model. Based on application, market is segmented into specialty based, neurology, cardiology, oncology, general based and radiology. In addition, based on end-use industry, market is segmented into hospitals, ambulatory care, diagnostic centers, and others.

The global & US EHR/EMR market is driven by rise in government initiatives for maintenance of patients' electronic health records, followed by growth in adoption of EER/EMR, favorable incentive programs, growth in awareness pertaining to electronic healthcare & electronic medical records systems, increase in use of cloud computing & web-based solutions, cost-effectiveness of EHRs, consolidation of healthcare providers, rise in care quality, high density of population, rapid adoption of healthcare IT and clinical benefits associated with the application of EHR-EMR. However, rise in data security concerns and high cost of implementing EMR & EHR followed by the need for training may impact the market. Moreover, growth in adoption of EHRs-EMRs in untapped markets is a key opportunity for market.

Based on geography, the North-American region holds major share, followed by European region in global & US EHR/EMR market owing to growth in healthcare expenditure, rise in innovation & improved efficiency, increase in number of chronic diseases, and rise in government initiatives to promote healthcare sectors in the region. The Asian-Pacific region is projected to witness higher growth rate due to growth in advantages of EHR, increase in number of healthcare organizations, and rise in healthcare information technology in controlling expenses over the forecast period. It is predicted that future of the market will be bright on account of rapidly changing technology, rise in technologically advanced healthcare infrastructure and presence of many key players during the forecast period.

For more information, click on the link below:

Global & US EHR/EMR Market

Contact Us:    

Ken Research                                   

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91 9015378249

Rise in Crude Oil Prices Expected to Drive Bicycle Market over the Forecast Period: Ken Research

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A bicycle is a pedal-driven & single-track vehicle. It is an imperishable sort of transport. It is environment-friendly. It is available at affordable prices and is healthy as well. It is continue to be the primary means of transportations for many regions in the world. There are many parts of a bicycle such as gears, brakes, pedals, wheels and many more that support in the movement of a bicycle. It can help persons to move from one place to another without consuming fuel of any form for instance petrol, coal, diesel, and many more that can cause pollution, thus saving precious natural resources. 

According to study, “Bicycle Market By Type (e-bikes and conventional bikes), Application (racing, transportation tools and recreation) and Region (North America, Europe and Asia Pacific (APAC)) – Global Forecast 2023” the key companies operating in the bicycle market are Accell Group, Moustache Bikes, Merida, Tianjin Fuji-ta Group Co., Ltd., Trek Bicycle Corporation, Avon Cycles, Derby Cycle Corp., Hero Cycles Limited, F.I.V.E. Bianchi SpA, Tube Investments of India Limited, specialized Bicycle Components, Easy Motion USA, Cannondale Bicycle Corp., Atlas Cycles Ltd., Bell Sports Corp., Campagnolo S.r.l, Cycleurope AB, Currie Technologies Inc., Hamilton Industries Ltd., NYCeWheels Inc., Caloi Inc., Giant Bicycles Inc.. Key companies are launching innovative bicycles & accessories, which will lead to a significant market growth.

Based on type, bicycle market is segmented into road bicycles, all terrain bicycles, hybrid bicycles, e-bicycles and others. Based on distribution channel, market is segmented into specialty stores, online channel, sporting goods retailers, outdoor & toys specialty goods retailers, and others. Based on technology, market is segmented into conventional and electric. Based on design, market is segmented into racing bicycles, touring cycles, fixed gear bicycles, and cruisers. Based on price, market is segmented into low-range price, mid-range price and premium. Based on gender type, market is segmented into men, women and kids. The men segment holds major market share due to rise in number of men opting to use bicycles for short distance trips, because of its easy use, cost saving for individuals and absence of noise pollution. In addition, based on application, market is segmented into recreation, racing and transportation tools.

The bicycle market is driven by rise in crude oil prices, followed by increase in popularity of e-bikes among tourists, growth in use of bicycles for entertainment & leisure purposes, and rise in government initiatives & stringent emission regulations. However, underdeveloped charging & aftermarket service infrastructure and high prices of e-bikes & their batteries may impact the market. Moreover, growth in government initiatives for the construction of cycle lanes is a key opportunity for market.

Based on geography, the Asian-Pacific region dominates the bicycle market owing to growth in popularity of sporting activities and surge in need for controlling traffic congestion caused by urbanization in the region. The North-American and European regions are projected to witness higher growth rate due to setup of public bicycle rental programs and rise in demand of bicycles over the forecast period. It is expected that the market will be reached at rapid pace on account of rise in consumer’s health consciousness & fit lifestyle during the forecast period.

To know more, click on the link below:-

Global Bicycle Market Research Report

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Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

ankur@kenresearch.com

+91-9015378249

Best B2B Service Providers in Nigeria: Ken Research

Nigeria has been home to a numeral of the ancient and indigenous kingdoms and states over the millennia. Nigeria is often referred to as the “Giant of Africa” due to its great populace and economy. Nigeria has the third-largest youth populace across the globe, after China and India, with more than 90 million of its populace under age 18. Not only has this, but Nigeria is also the 12^th the wildest manufacturer of petroleum across the globe and the 8^th largest exporter, and has the 10^th greatest proven reserves.

According to the market research company in Nigeria, logistics is vigorous for the economic performance of any region. Nigeria has poor infrastructure and logistical issues along with the overdue convention processed and congestion on the roads. It is an import-based region and the region is dependent on the export of crude oil. Moreover, Nigeria was ranked 145 out of 190 regions during the recent past years in ease of doing business Index and ranks 112 in the Logistics Performance Index during the recent past. The growth in the Nigeria logistics market has been owing to the Infrastructural improvements in the Railways and Airways, development in foreign ties with several other regions and the effective increase in the e-commerce segment.

Nonetheless, the government of Nigeria and the private corporates are the underwriters for augmenting the requirement of the cold storages for the agricultural and pharmaceuticals drugs and medicines. The Lagos has been the commercial hub of the region and the most prime area in the terms of trade and logistics owing to the proximity to the foremost seaports, airports and the industrial parks in the region. On the basis of Market Research Firms in Nigeria, the market is stringently regulated by NAFDAC owing to the poor warehousing standards and the increasing trafficked goods in the market. The growing automation technology along with the more developed inventory management systems is predicted to support the positive growth of the warehousing sector.

By the courier, parcel and express logistics market, the boost of the e-commerce and easing of e-payment systems such as PIN-based debit cards, Paystack in Nigeria have augmented the requirement of the couriers and parcel market in the region. The effective increase in the prominence of the online shopping will also underwrite towards a long term growth for the Express Delivery Segment in the coming years. Furthermore, the growth of the e-commerce business has led to a junction of B2B and B2C traffic, with the parcel logistics delivers progressively embracing both to the service consumers’ Omnichannel supply chains.

Nonetheless, based on the Market Research Company in Nigeria, the Nigeria Warehousing market was evaluated to increase speedily during the review duration. The growth was majorly owing to the growth in the international trade volumes, market entry of the international companies, increasing the e-commerce market and building new manufacturing units and industries in Nigeria in order to create the region self-reliant. Not only has this, but the sustained efforts have also been taken by the government along with the Chinese legal authorities for improving the free trade zones locations and industrial parks in the region. Foremost investment by the foreign corporates has fueled the overall warehousing market in the region. Therefore, it is anticipated that in the coming years, the markets across Nigeria will increase more positively over the coming years.

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249