Market
Research Company in Nigeria: During
the present trend, the research market across Nigeria is at an augmenting
stage. Along with the significant growth in the amount of second hand and newer
passenger and the commercial vehicles across the economy, the market of
lubricants have augmented over the present duration. Not only has this, but the market of the baby food industry across Nigeria is also mainly propelled by the
effective growth in the disposable income of the people, the effective growth
in the consciousness amongst the parents to deliver healthier food to the
babies, augment in the internet retailing amongst the several other factors.
The research market is probable to recent positive growth and endures to develop
in the upcoming years.
In
addition, the logistics are vivacious for the economic presentation of any
economy. Nigeria has poor functioning and logistical concerns along with the
overdue custom processes and congestion on the roads. It is an import-based
province and the region are reliant on the export of crude oil. The growth in
the Nigerian logistics market has been owing to the Infrastructural
advancements in the Railways and Airways, advancement in the foreign ties with
the other regions, and the growing e-commerce segment.
The
boom of the e-commerce and simplification of e-payment systems such as
haystack, PIN-based debit cards in Nigeria have augmented the requirement of
the couriers and parcel market in the region. The effective growth in the prominence of online shopping will also underwrite towards a long-term growth
for the EDS (Express delivery Segment) in the future. The growth of the
E-commerce business has led to a conjunction of B2B and B2C traffic, with the
parcel logistics merchants progressively implementation both to serve clients’
Omnichannel supply chains.
Nonetheless,
the Nigerian Remittance Market is enumerated by
the International remittance. The United States, the United Kingdom, and
the European provinces are the principal sources of remittance in the regions.
An augmenting number of migrants has a straight and positive hollow on the
growth of the remittance industry. Moreover, interior migration is also on the
augment in the country. The presence of jobs and migration have
cooperatively reinvigorated the growth of the international as well as domestic
remittance industry.
Although,
the competition within Nigeria Logistics and Warehousing Market is
exceedingly fragmented in nature with the occurrence of national and
International players such as DHL, FedEx, Redstar, UPS, GMT Logistics, MDS
logistics, GIG, ABC transport, Bollore, Maersk Line, TSL, and several others.
The competition in the freight forwarding corporates is more than warehousing
owing to the existence of the several players with the differentiated solutions
at competitive costs. The logistic price in the market is tremendously high
leading to retrenchment of the manufacturing segment in the GDP.
Although,
the prerequisite of the lubricants of the domestic market is
met by both the worldwide players as well as autonomous marketers in the
economy. The worldwide players operating in the region had a major share in the
market share in terms of the sales capacity as corresponded to independent
marketers. However, the Lubricants Market Future Outlook is promising
due to the crude oil prices enhance, Nigeria’s region is predicted to
augment at a greater rate and therefore the obtaining power of
the individual is also probable to extend in the near years.
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Ken Research
Ankur Gupta, Head Marketing &
Communications
+91-9015378249
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