Global Ecommerce Market to Grow USD 20313450 Million by 2028 with a CAGR of 17.4% | Valuates Reports
BANGALORE, India, June 1, 2022 /PRNewswire/ -- The Global eCommerce Market is Segmented by Type (Buyer-oriented E-commerce, Supplier-oriented E-commerce, Intermediary-oriented E-commerce), by Application (SMEs, Large Enterprises).
Due to the COVID-19 pandemic, the global E-Commerce market size is estimated to be worth USD 7750530 Million in 2022 and is forecast to a readjusted size of USD 20313450 Million by 2028 with a CAGR of 17.4% during the review period.
Major Factors Driving the Growth of e Commerce Market:
E-Commerce marketplaces are booming as businesses shift to the digital world and make transactions online. This has led to several challenges. Key players are providing software solutions and tools to manage problems related to procurement, contracts, and multi-tiered pricing strategies which will drive the growth of the global eCommerce market.
Moreover, The emergence of AI, machine learning analytics tools, and software-assisted supply chain management will drastically increase sales of online platforms thereby boosting the eCommerce industry growth in the coming years.
Get Your Sample Today: https://reports.valuates.com/request/sample/QYRE-Auto-6K6319/Global_E_Commerce
TRENDS INFLUENCING THE GLOBAL E-COMMERCE MARKET
Many merchants on online eCommerce marketplaces lose out on increasing their customers' basket sizes due to a lack of human touch. Integrated software solutions provide great cross-selling and up-selling opportunities by recommending products based on past purchases, suggesting pricier alternatives, and updating customers on attractive bargains such as gifts, discounts, coupons, and stock availability. One can even offer deals on checkout pages to reduce cart abandonment rates. The seamless and user-friendly intuitive features help in providing rich content like videos to showcase a product's attributes in a convincing way to buyers. Such factors will drive the growth of the eCommerce market.
Large B2B companies have a huge number of customers with different pricing needs. As companies order goods in large volumes the processing systems are unable to take the load of the ordering strategy. Advanced tools help in setting up a system that permits volume discounts whenever a purchase is made during a specified period. These platforms come with multi-tier pricing models built in to suit the needs of different customers. Moreover, other customized features such as auto discounts aid the bulk transaction. This is going to drive the growth of the global eCommerce market during the forecast period.
The online retail market is set to increase tremendously in the coming years. B2B buyers want flexibility in the way they order and pay. Large-scale companies' purchasing processes are tedious and complicated. A lot of documents like contracts, requisition orders, invoices, and purchase orders get mixed up. eProcurement platforms help in gaining control over the spending across the organization and consolidate data. The online integrator bridges the gap between buyer and seller through the seamless flow of documents between the eCommerce and the eProcurement platforms. As the adoption grows the demand for the eCommerce market will rise in the subsequent years.
AI and machine learning analytic tools are able to give live results of sampled aggregate data without any delay. You can visualize customer actions on your website in real-time gaining actionable insights into where the prospective sales are lost for decreasing bounce rate and cart abandonment. Moreover machine learning algorithms clean and prep data from multiple sources. Dynamic dashboards with detailed visualizations along with time series modeling are used for predicting seasonal trends. One can easily validate and identify trends through statistically accurate forecasting. These advanced tools will boost the growth prospects of the global eCommerce market in the future.
Freight shipping and supply chain delivery are crucial as customers don't like slow deliveries. It can be a complex problem for B2B sellers due to the sheer volume they transport. An online third-party software tool can automate the process, optimize logistics costs, and track delivery. Cost is reduced significantly as stockpiling inventory is eliminated. Wastage is removed due to proper quality control. The suppliers are paid on time due to proper tracking of payments. Such beneficial factors will fuel the growth of the eCommerce market in the coming decades.
Browse The Table Of Contents And List Of Figures At: https://reports.valuates.com/market-reports/QYRE-Auto-6K6319/global-e-commerce
E COMMERCE MARKET SHARE ANALYSIS
Based on region, Asia-Pacific is expected to dominate in the E-Commerce market share due to rapid infrastructural development, growing transition of businesses towards eCommerce platforms, and surging internet use due to huge smartphone penetration.
Get Regional Data: https://reports.valuates.com/request/regional/QYRE-Auto-6K6319/Global_E_Commerce
- Boeing
- Saab AB
- Parrot
- General Atomics Aeronautical Systems
- Elbit Systems
- AeroVironment
- Lockheed Martin
- 3D Robotics
- Textron
- DJI Technology
- Northrop Grumman
- Israel Aerospace
Inquire for Chapter Cost: https://reports.valuates.com/request/chaptercost/QYRE-Auto-6K6319/Global_E_Commerce
Buy Now for Single User + Covid-19 Impact : https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-6K6319&lic=single-user
eCommerce Market Report Covers
SUBSCRIPTION
We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.
SIMILAR REPORTS:
- The global Cross-border E-commerce market size is projected to reach USD 1508700 Million by 2027, from USD 532710 Million in 2020, at a Compound Annual Growth Rate (CAGR) of 15.5% during 2021-2027.
- The global Business-to-business (B2B) E-commerce market size is projected to reach USD 19968910 Million by 2028, from USD 7687420 Million in 2021, at a CAGR of 14.4% during 2022-2028.
- The global Big Data in E-commerce market size is projected to reach USD 8441.2 Million by 2028, from USD 3747.8 Million in 2021, at a CAGR of 12.1% during 2022-2028.
- The global E-Commerce Payment market size is projected to reach USD 10280910 Million by 2027, from USD 4729000 Million in 2020, at a CAGR of 11.5% during 2021-2027.
- The global fintech market size is projected to reach USD 16652680 Million by 2028 from USD 6588780 Million in 2021 at a Compound Annual Growth Rate (CAGR) of 13.9% during the forecast period 2022-2028.
- The global Retail E-commerce Software market size is projected to reach USD 11770 Million by 2027, from USD 5812.7 Million in 2020, at a CAGR of 10.6% during 2021-2027.
- The global Last Mile Delivery for E-commerce market size is projected to reach USD 71 Million by 2028, from USD 37 Million in 2021, at a CAGR of 9.7% during 2022-2028.
- Global Automotive E-Commerce Market Insights, Forecast to 2028
- Global E Commerce Logistics Market Insights, Forecast to 2028
- Global E-commerce SaaS Market Insights, Forecast to 2028
- Global Mobile E-Commerce Software Market Insights, Forecast to 2028
- Global Customer Analytics in E-commerce Market Insights, Forecast to 2028
- Global Healthcare e-Commerce Market Insights and Forecast to 2028
- Global E-Commerce Profit Model Market Insights and Forecast to 2028
- Global Agricultural E-commerce Market Insights, Forecast to 2028
Click here to see related reports on eCommerce Market
ABOUT US:
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.
CONTACT US:
Valuates Reports
[email protected]
For U.S. Toll-Free Call 1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports
LinkedIn - https://in.linkedin.com/company/valuatesreports
Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg
Share this article