Insights of the Nigeria Market Research Firms Outlook: Ken Research
The research
market in Nigeria, logistics is critical for the economic performance
of any region. Nigeria has deprived infrastructure and the logistical
issues along with the deferred custom processes and the congestion on the
roads. It is an import-based region and the region is dependent on the export
of crude oil. Based on the market research firms in Nigeria, Nigeria was
positioned 145 out of 190 regions in 2018 inconvenient of doing
business index and ranks 112 in the Logistics Performance Index (2018). The
effective growth in the Nigeria logistics
market has been owing to the infrastructural advancements in the
Railways and Airways, advancement in foreign ties with several other regions
and the effective growth in the e-commerce segment.
Nonetheless,
based on the research market firms,
the African logistics market has seen a sturdy growth between 2013 and 2018
registering to a single-digit CAGR during this duration. The mainland is
greatly rich with the natural foundations and growth in the mining of coal has
supported the market increase. The foremost exporting partners involve China,
the United States, and Japan. Moreover, the infrastructure has been problematic
for Africa and China has supported enormously to curb the concern. China has made
a number of investments to advance to roads, ports, and railways which was
assisted in the growth of the market. The freight forwarding market underwrites the
major towards the entire logistics market of Africa.
Although,
the market research firms in Nigeria,
states Nigeria
warehousing market was calculated to increase the speedily
during the duration of 2013-2018. The growth was majorly owing to the
growth in the international trade capacity, the market entry of the
international companies, positive increment in the e-commerce market and
building the fresh producing units and industries in Nigeria in order to generate
the region self-reliant. Furthermore, sustained efforts have been
taken by the government along with the Chinese legal authorities for
advancing the free trade zone locations and industrial parks in the region. The
foremost speculation by the foreign corporation has influenced the entire
warehousing market in the region.
The
food and beverage industry has been registering the end-user sector
owing to the growing trade of the food products with the Asian and European
regions and effective growth in the middle-class populace in the region.
Nigeria has set up the Automotive Industry Development Plan to set up more
automation industries in Nigeria. The e-commerce segment has been
advancing in the region and fascinating the numerous consumers. The
emergence of the supermarkets and several other stores are even
underwriting the increasing retail market in the region. The Nigerian legal
authorities and private corporations are underwriters for effectively
augment in the requirement of the cold storages for the agricultural
and pharmaceutical drugs and medicines.
Furthermore,
it is predicted that in the near years, the market research firms in
Nigeria will increase around the globe over the upcoming years more actively.
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
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