What’s next for African markets?
Africa’s biggest markets are also the most competitive and the fastest-growing for tech companies.
The continent has a huge market share for the first-generation mobile devices, and the demand for new ones has also been growing.
But for many African tech companies, there’s still a lot to do to break out.
“Africa is not the fastest growing tech market in the world right now,” says David W. Dreyer, a professor of international economics at George Mason University who’s written extensively on Africa’s growth prospects.
“But that will change.”
The top three African markets for 2016 are South Africa, Egypt, and Kenya, according to IDC data.
The most lucrative in Africa in terms of revenue is South Africa’s mobile market, which generates about $50 billion in revenue per year.
In addition, the top two countries for mobile-device sales are South Sudan and Nigeria, where Apple has its biggest presence.
The top-five African markets are Angola, Nigeria, Zimbabwe, Burkina Faso, and Sudan.
“There is a lot of room for growth in the African tech sector,” says Benjamin M. Dabashi, a senior analyst at research firm IHS Markit.
“It’s not only about growth in Africa, it’s also about expanding in the rest of the world.”
Here’s what’s coming next.