USD 24.0 trillion
Report ID:
SQMIG45C2068 |
Region:
Global |
Published Date: December, 2024
Pages:
157
|Tables:
120
|Figures:
77
Global E-Commerce Market size was valued at USD 24.0 trillion in 2022 and is poised to grow from USD 26.6 billion in 2023 to USD 62.1 billion by 2031, growing at a CAGR of 11% during the forecast period (2024-2031).
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.
Global Market Size
USD 24.0 trillion
Largest Segment
Vitamins
Fastest Growth
Vitamins
Growth Rate
11% CAGR
To get more reports on the above market click here to Buy The Report
Global E-Commerce Market is segmented by Type, Application and region. Based on Type, the market is segmented into Business-to-Business, Business-to-Consumer, Consumer-to-Consumer. Based on application, the market is segmented into Automotive, Beauty & Personal Care, Books & Stationery, Consumer Electronics, Home Appliances, Fashion Products, Groceries, Books, Clothing & Footwear, Healthcare, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and 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.
To get detailed analysis on other segments, Request For Free Sample Report
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.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
E-Commerce Market Driver
E-Commerce Market Restraint
Request Free Customization of this report to help us to meet your business objectives.
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
E-Commerce Market Recent Developments
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 2022 | USD 24.0 trillion |
Market size value in 2031 | USD 62.1 billion |
Growth Rate | 11% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
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 |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the 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 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the E-Commerce Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 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.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Report ID: SQMIG45C2068
sales@skyquestt.com
USA +1 351-333-4748