Posted On: 2022-03-08
Media and Entertainment acquired the largest market revenue share among all the verticals in the overall Saudi Arabia D2C market – 6Wresearch
Saudi Arabia D2C Market has witnessed tremendous growth due to rapid transformation in media and entertainment sector owing to constant increase in percentage of population using internet. Moreover, the SVoD subscribers are projected to double from end-2020 to 2026 and reach to 32.65 million. These factors coupled with the increasing consumer preferences would increase the demand in D2C Market. Furthermore, Saudi Arabia’s vision aims to establish 1000 small and medium companies in the entertainment sector. Saudi Arabia has organized more than 2000 entertainment, cultural and sporting events, with more than 46 million visitors. Several upcoming developments in different sectors would drive the upcoming revolution in the D2C Market.
According to 6Wresearch, Saudi Arabia D2C Market size is projected to grow at a CAGR of 15.9% during 2022-28. Saudi Arabia D2C market is expected to grow at a healthy rate owing to increasing number of local and international players entering the market. The major factors behind the growth is government initiative such as Saudi Arabia Vision 2030 to transform the country into vibrant society, thriving economy and ambitious nation. Saudi Arabia Vision 2030 objective is to attract regional and international retail investors, thereby increasing modern trade and retail segment. It would also increase local investments in telecommunication and information technology sector. Technological advancements by a growing start-up ecosystem would have a positive impact on D2C market of Saudi Arabia in the coming years.
According to Navneet Aggarwal, Manager, 6wresearch, “By Verticals, Media and Entertainment acquired the highest market revenue share in 2021 and would continue to do so in the future owing to increasing streaming video content and gaming consumption. Furthermore, Saudi Arabia’s vision aims to establish 1000 small and medium companies in the entertainment sector. Additionally, Saudi Arabia’s investment boost of $64 billion is a major transition in the media and entertainment sector.
According to Bhavya Manchanda, Research Associate, 6wresearch, “ Consumer Electronics has the highest growth in terms of revenue and should be a major segment to focus as there is a constant increase in e-commerce players, both local and international players. Saudi Arabia’s E-commerce accounts for $1.7 billion potential cumulative net revenues by 2030. Advancements in technology and increasing investments could enhance the progress of D2C Market in the coming years. Internet users are booming, with shift in online purchase of goods as it would further grow e-commerce platforms and create increased opportunities for D2C Market in the country.
Some of the major companies in Saudi Arabia D2C market include Netflix, Abdullah Hashim Company Ltd, Lucid Motors, Chalhoub Group, Mercedes, and others.
Saudi Arabia D2C Market (2022-2028)” report provides an in-depth analysis with 19 figures and 6 tables, covered in 53 pages. The report estimates and forecast the overall Saudi Arabia D2C market by verticals. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.