Global e-commerce market

Global E-Commerce Market Size, Share, Growth Analysis, By Business model(Vertical e-commerce, horizontal e-commerce), By Product offering(Home Appliances, Apparel), By Browsing medium(Desktop/Laptop, Mobile/Tablet), By Business transaction(Business-to-Business, Business-to-Consumer) - Industry Forecast 2023-2030


Report ID: SQMIG45C2068 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 120 | Figures: 77

Global E-Commerce Market Insights

E-Commerce Market size was valued at USD 24029.23 billion in 2021 and is poised to grow from USD 26673.64 billion in 2022 to USD 62415.2 billion by 2030, growing at a CAGR of 11% in the forecast period (2023-2030).

E-commerce upgrades your brand from a traditional brick and mortar store to a popular brand. Making your business online is important as it is highly convenient and easy to run, its gives your business a wider exposure and global consumer base. The E-commerce market is growing mainly due to the factors such as rising penetration of smartphones and internet, increasing use of social media for promoting E-commerce sites and the introduction of new payment methods. E-commerce helps firm conduct business without the need for physical infrastructure thereby reducing the capital requirements of the company. Online e-commerce portal provide the consumers with a hassle-free shopping experience while including a wide variety of items to choose from.

Growing number of small and medium-sized businesses is also expected to drive up demand over the forecast period. Small and medium-sized businesses are expanding rapidly, particularly in India, South Africa, and Russia. Initiatives such as Make in India and Start-up India have increased the number of start-ups in the country that use the online marketplace for business, thereby driving E-Commerce market growth. Furthermore, rising consumer wealth is expected to drive E-Commerce market growth over the forecast period.

US E-Commerce Market is poised to grow at a sustainable CAGR for the next forcast year.

Market snapshot - 2023-2030

Global Market Size

USD 24029.23 billion

Largest Segment

Vitamins

Fastest Growth

Vitamins

Growth Rate

11% CAGR

Global E-Commerce Market ($ Bn)
Country Share for North America Region (%)
Global E-Commerce Market By Type ($ Bn)
Global E-Commerce Market By Type (%)

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Global E-Commerce Market Segmental Analysis

Global e-commerce market is segmented based on type of business model, product offered, browsing medium, business transactions, and region. Based on type of business model, e-commerce market is segmented into horizontal and vertical E-commerce. According to the type of product offering, e-commerce market is further segmented into home appliances, apparel, footwear and accessories, books, beauty & cosmetics, groceries and others. According to the browsing medium e-commerce market is bifurcated into laptop/desktop segment and mobile/tablet segment. On the basis of business transaction e-commerce market is sub segmented into business to business (B2B), business to consumer (B2C) and consumer to consumer (C2C). Based on the region the global E-commerce market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

E-Commerce Market Analysis by Browsing Medium

The desktop/laptop segment held the largest E-Commerce market share. Consumers habitually use desktop/laptop for online shopping as it has larger screen which accentuates the shopping experience. The mobile/tablet segment is currently seeing a high growth in the E-Commerce market because of the increasing sale of mobiles and tablets as compared to laptop or desktops. Also, the portability of mobiles and tablets being more than desktops/laptops and increasing penetration and faster internet available on mobiles and tablets is further driving segment growth.

E-Commerce Market Analysis by Business Transaction

The B2B segment dominated the global e-commerce market in 2021 and is expected to continue this trend during the forecast period. It is the fastest growing segment at a CAGR of 27% due to emphasis on technologies such as AR, VR and AI. Digital commerce software that can be used in combination with ERP software and inventory management solutions are expected to drive the E-Commerce market growth. Companies are inclined towards selling & buying their goods on B2B e-commerce platform due to benefits available like value added services, bulk discounts and different payment options available.

Global E-Commerce Market By Type, 2021 (%)

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Global E-Commerce Market Regional Insights

Asia Pacific dominated the e-commerce market in 2021, with a share of 55.3%, and is expected to grow at the fastest rate from 2022 to 2028. This is due to a growing preference among businesses to conduct business via a B2B e-commerce platform. Furthermore, expanding infrastructure and an increase in internet users are expected to drive regional E-Commerce market growth.

Furthermore, the region is expected to see an increase in demand for B2B e-commerce adoption, which can be attributed to the proliferation of smartphones. Furthermore, the Chinese E-Commerce market is undergoing a consumer revolution, with international products benefiting from innovative marketing, research, and advertising techniques. Brand awareness is becoming increasingly important in attracting Chinese consumers. Luxury goods and service providers are expanding rapidly in China.

North America and Europe are expected to grow steadily over the forecast period. Consumers in the United States are open to foreign brands and products. They are more conscious of overconsumption and environmental issues. Consumers are very particular about the product's quality, composition, and price. North America has one of the highest rates of internet penetration. The Middle East, Africa, and Latin America are expected to grow significantly in the coming years as a result of a growing young population and a rapidly evolving online shopping market.

Global E-Commerce Market By Region, 2023-2030
  • Largest
  • Fastest

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Global E-Commerce Market Dynamics

E-Commerce Market Driver

  • Proliferation of the Internet, particularly in developing and underdeveloped countries, is primarily responsible for the exponential growth of e-commerce. Many people benefit from online services, including e-commerce, as a result of the Internet's ease of use. Consumers are drawn to internet subscriptions by rising smartphone penetration, rising government initiatives to digitalize various aspects of its society, and lower and more affordable network services. According to Internetworldstats.com, approximately 5.05 billion people have access to some form of the internet. E-commerce sectors are expanding rapidly as the Internet continues to spread, consumer awareness of e-commerce grows, and consumer spending capacity improves in developing and underdeveloped countries.

E-Commerce Market Restraint

  • Issues such as online frauds or cybercrimes leads to distrust of consumers thereby restraining the E-Commerce market growth. In addition, restraining of local laws and regulations for international E-commerce and lack of touch and feel for experience are major roadblocks for the overall E-Commerce market growth.

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Global E-Commerce Market Competitive Landscape

Global e-commerce market is highly fragmented due to presence of many players and is expected to face very high competition during the coming years. Major e-commerce companies include Alibaba Group Holding Limited, Amazon.com Inc., Apple Inc., B2W Companhia Digital, Ebay Inc., Groupon Inc., Rakuten and Walmart Inc. among others. Many players are sustaining their businesses through organic and inorganic growth strategies. Business expansion through strategic partnership, mergers and acquisitions and others are among the key strategies adopted by these players. Various new entrants, innovative methods of shopping, and other factors has created a more dynamic environment for global e-commerce market.

Top Players in the Global E-Commerce Market

  • Amazon.com Inc.
  • Alibaba Group Holding Limited
  • Walmart Inc.
  • JD.com Inc.
  • eBay Inc.
  • Rakuten Inc.
  • Zalando SE
  • Shopify Inc.
  • MercadoLibre Inc.
  • Etsy Inc.
  • Pinduoduo Inc.
  • Flipkart Internet Private Limited
  • Wayfair Inc.
  • Otto GmbH & Co KG
  • Groupon Inc.
  • Vipshop Holdings Limited
  • Overstock.com Inc.
  • ASOS Plc
  • Qurate Retail Group, Inc.
  • Chewy, Inc.

E-Commerce Market Recent Developments

  • In September 2022, Forte Management group, a U.S. based logistics, wholesale distributor and e-commerce growth agency developed a new service which helps create a tier 1 infrastructure for fulfilment, product research, analytics, logistics, and customer care in the e-commerce industry to legitimate the business model and exploit its business acumen.
  • In September 2022, Flipkart revamped its app to hosts bunch of new features to enhance customer’s shopping experience. These include a grocery tab, brand mall for premium experience, live commerce features such as video cataloguing and interactive shopping for dynamic information such as fit and fabric of clothing
  • In July 2022, Grasim Industries, an Aditya Birla subsidiary announced to enter B2B e-commerce market in building materials segment. The company will be spending a total of 10,000 crore and will launch its product by as early as 2024.

Global E-Commerce Key Market Trends

  • Image shopping has emerged as a new ecommerce trend. Users point their camera at a product to purchase it from an online store. There are numerous photo apps available, such as CamFinder, and many more will appear this year. This trend will also lead to the sale of affiliate products via photo shopping.
  • For example, Pinterest has introduced its own photo camera. To provide an accurate product description, it recognizes and interprets images. It has already formed alliances with numerous e-commerce sites and top search engines. It provides them with relevant data for image classification and interpretation.

Global E-Commerce Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global e-commerce market analysis, in terms of business model, the segment of vertical e-commerce is growing at a fast rate owing to increasing preference to specialized e-commerce which offer wide range of solutions to personalized consumer needs. In terms of product offering, the fashion segment held the larger share of the global e-commerce market. The hassle free shopping experience offered by e-commerce, easy returns and refunds and the availability of higher disposable income with the middle class are the factors for this segment growth. In terms of browsing medium, the mobile & tablet segment is growing at a rapid rate because of more access and affordability to internet services and smartphones. In terms of business transaction, the B2B segment dominated the E-Commerce market share. It could be attributed to innovation in AI, AR technologies, more E-Commerce market exposure and availability of e-commerce software to complement enterprise planning and inventory controlling software.

Report Metric Details
Market size value in 2021 USD 24029.23 billion
Market size value in 2030 USD 62415.2 billion
Growth Rate 11%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Business model
    • Vertical e-commerce, horizontal e-commerce
  • Product offering
    • Home Appliances, Apparel, Footwear, Accessories, Books, Beauty & Cosmetics, Groceries, Others
  • Browsing medium
    • Desktop/Laptop, Mobile/Tablet
  • Business transaction
    • Business-to-Business, Business-to-Consumer, Consumer-to-Consumer
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Amazon.com Inc.
  • Alibaba Group Holding Limited
  • Walmart Inc.
  • JD.com Inc.
  • eBay Inc.
  • Rakuten Inc.
  • Zalando SE
  • Shopify Inc.
  • MercadoLibre Inc.
  • Etsy Inc.
  • Pinduoduo Inc.
  • Flipkart Internet Private Limited
  • Wayfair Inc.
  • Otto GmbH & Co KG
  • Groupon Inc.
  • Vipshop Holdings Limited
  • Overstock.com Inc.
  • ASOS Plc
  • Qurate Retail Group, Inc.
  • Chewy, Inc.
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global E-Commerce Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global E-Commerce Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global E-Commerce Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global E-Commerce Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global E-Commerce Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global E-Commerce Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

E-Commerce Market size was valued at USD 24029.23 billion in 2021 and is poised to grow from USD 26673.64 billion in 2022 to USD 62415.2 billion by 2030, growing at a CAGR of 11% in the forecast period (2023-2030).

Global e-commerce market is highly fragmented due to presence of many players and is expected to face very high competition during the coming years. Major e-commerce companies include Alibaba Group Holding Limited, Amazon.com Inc., Apple Inc., B2W Companhia Digital, Ebay Inc., Groupon Inc., Rakuten and Walmart Inc. among others. Many players are sustaining their businesses through organic and inorganic growth strategies. Business expansion through strategic partnership, mergers and acquisitions and others are among the key strategies adopted by these players. Various new entrants, innovative methods of shopping, and other factors has created a more dynamic environment for global e-commerce market. 'Amazon.com Inc.', 'Alibaba Group Holding Limited', 'Walmart Inc.', 'JD.com Inc.', 'eBay Inc.', 'Rakuten Inc.', 'Zalando SE', 'Shopify Inc.', 'MercadoLibre Inc.', 'Etsy Inc.', 'Pinduoduo Inc.', 'Flipkart Internet Private Limited', 'Wayfair Inc.', 'Otto GmbH & Co KG', 'Groupon Inc.', 'Vipshop Holdings Limited', 'Overstock.com Inc.', 'ASOS Plc', 'Qurate Retail Group, Inc.', 'Chewy, Inc.'

Proliferation of the Internet, particularly in developing and underdeveloped countries, is primarily responsible for the exponential growth of e-commerce. Many people benefit from online services, including e-commerce, as a result of the Internet's ease of use. Consumers are drawn to internet subscriptions by rising smartphone penetration, rising government initiatives to digitalize various aspects of its society, and lower and more affordable network services. According to Internetworldstats.com, approximately 5.05 billion people have access to some form of the internet. E-commerce sectors are expanding rapidly as the Internet continues to spread, consumer awareness of e-commerce grows, and consumer spending capacity improves in developing and underdeveloped countries.

Image shopping has emerged as a new ecommerce trend. Users point their camera at a product to purchase it from an online store. There are numerous photo apps available, such as CamFinder, and many more will appear this year. This trend will also lead to the sale of affiliate products via photo shopping.

Asia Pacific dominated the e-commerce market in 2021, with a share of 55.3%, and is expected to grow at the fastest rate from 2022 to 2028. This is due to a growing preference among businesses to conduct business via a B2B e-commerce platform. Furthermore, expanding infrastructure and an increase in internet users are expected to drive regional E-Commerce market growth.

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