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The Fast Growing E&M Market of Nigeria



An overview on how Nigeria will be the fastest growing Entertainment and Media Market



This report predicts that Nigeria's e-commerce market will be the fastest-growing in the world in the next five years, with a compound annual growth rate of 25.5%. The report attributes this growth to factors such as an expanding middle class, increasing smartphone penetration, and a growing youth population. Additionally, the report suggests that e-commerce companies in Nigeria should focus on improving the customer experience, enhancing logistics and supply chain capabilities, and investing in digital marketing to drive growth.

Key Takeaways:

  1. Fastest Growing E&M Market: Nigeria's strong E&M market growth presents significant opportunities for local and international businesses in the entertainment, media, and technology sectors.
  1. Internet Access as a Key Driver: The growth of Internet access revenue highlights the importance of investing in digital infrastructure and expanding Internet coverage in Nigeria.
  1. Advertising Potential: The projected growth in Internet advertising signifies the potential for businesses to tap into Nigeria's expanding digital audience to increase brand visibility and customer engagement.

Key Figures

  1. Projected CAGR for Nigeria's E&M market: Nigeria's E&M market is expected to grow at a compound annual growth rate (CAGR) of 12.1% from 2017 to 2021.
  2. Global average CAGR for E&M markets: The global average CAGR for E&M markets during the same period is 4.2%.
  3. CAGR for Internet access revenue in Nigeria: Internet access revenue in Nigeria is projected to grow at a CAGR of 16.2% from 2017 to 2021.
  4. CAGR for Internet advertising in Nigeria: Nigeria's Internet advertising market is anticipated to grow at a CAGR of 12.9% during the forecast period.

These figures emphasize the rapid growth of Nigeria's E&M market, driven mainly by Internet access and advertising revenues.