What is the Historic and Current Scenario of the E-Commerce Market?
The e-commerce market has seen considerable growth due to a variety of factors.
• The size of the e-commerce market has swiftly expanded in the past years. It is projected to see a rise from $4490.17 billion in 2024 to $5060.7 billion in 2025, with a compound annual growth rate (CAGR) of 12.7%.
Aspects such as heightened internet access, changing consumer habits, secured payment methods, increased mobile usage and applications, as well as globalization and international trade, have contributed to this growth in the historic period.
How Will the E-Commerce Market Size Evolve over the Forecast Period?
The e-commerce market is expected to maintain its strong growth trajectory in upcoming years.
• The trajectory of the e-commerce market size is predicted to experience swift expansion in the coming years. The projection suggests growth to $7856.66 billion in 2029 with a compound annual growth rate (CAGR) of 11.6%.
Contributing factors to the expected growth in this period can be linked to the diversification of the marketplace, growth of subscription economy, the emergence of evolved payment solutions, the rise of sustainable and ethical consumerism, and the broadening incorporation of AR and VR. Key trends forecasted for this period include the incorporation of social commerce, the dominance of mobile commerce, bespoke shopping journeys, subscription-centric models, and multi-channel retailing.
What Are The Core Factors Supporting Growth In E-Commerce Market?
The increase in internet penetration and the expansion in smartphone usage are expected to fuel the progress of the e-commerce market. The surge in internet and smartphone usage is altering consumer preferences in favor of online shopping. For example, Uswitch Limited, a UK price comparison and switching service firm, announced in February 2023 that 86% of UK residents utilized the internet through mobile devices in 2022. Furthermore, predictions suggest that by 2025, 95% of the UK populace will possess a smartphone.
What Key Areas Define The Segmentation Of The Global E-Commerce Market?
The e-commerce market covered in this report is segmented –
1) By Model Type: Business To Business (B2B), Business To Consumer (B2C)
2) By Payment Mode: Card Payments, Bank Transfers, Digital Wallets, Cash Payments, Other Payment Modes
3) By Application: Home Appliances, Clothing And Footwear, Books, Cosmetics, Baby Goods, Groceries, Other Applications
Subsegments:
1) By Business To Business (B2B): Wholesale marketplaces, Supplier-Distributor Platforms, Procurement Services, B2B Subscription Services
2) By Business To Consumer (B2C): Online Retail Stores, Direct-To-Consumer Brands, marketplaces, Online Service Platforms
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How Are Emerging Trends Reshaping The Dynamics Of The E-Commerce Market?
The prominent trend in the e-commerce market is the escalating efforts of governments and businesses to stimulate online sales. Entracker reported in April 2022 that the Indian government has instigated the pilot phase of the Open Network for Digital Commerce (ONDC) to make the e-commerce sector more accessible to small retailers. This initiative is expected to drive significant growth in the country's e-commerce sector.
Who Are the Key Players in the E-Commerce Market?
Major companies operating in the e-commerce market include:
• Walmart Inc.
• Amazon.com Inc.
• Apple Inc.
• JD.com Inc.
• Target Brands Inc.
• Dell Technologies Inc.
• PayPal Holdings Inc.
• Macy’s Inc.
• Pinduoduo Inc.
• Vipshop Holdings Ltd.
• Carvana Co.
• Wayfair LLC
• Zalando SE
• MercadoLibre Inc.
• Suning Commerce Group Co. Ltd.
• eBay Inc.
• Chewy Inc.
• Flipkart Private Limited
• Shopify Inc.
• Etsy Inc.
• Best Buy Canada Ltd.
• Gome Electrical Appliances Holding Ltd.
• Farfetch Limited
• Otto Group
• Myntra Fashion Technologies Private Limited
• BigCommerce Pty. Ltd.
• Lenskart Solutions Private Limited
• Alibaba Group
• Snapdeal Limited
• VTEX Commerce
• Magento Commerce Inc.
• PrestaShop S.A.
• Big Cartel LLC
• Volusion LLC
• Squarespace Inc.
• Weebly Inc.
• Shift4Shop Inc.
• Miva Inc.
What Is The Most Dominant Region In The E-Commerce Market?
North America was the largest region in the e-commerce market in 2024. Asia-Pacific was the second largest region in the global e-commerce market share. The regions covered in the e-commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
