Global E-Commerce Market Forecast Report 2023: Market to Grow by $28.75 Trillion by 2030 with Rakuten, Amazon, Alibaba, Walmart, eBay, Zalando, Otto, and JD.com at the Forefront of Growth

News provided by

Jan 16, 2024, 14:15 ET

DUBLIN, Jan. 16, 2024 /PRNewswire/ -- The "Global E-Commerce Market Forecast 2023-2030, B2B-B2C, Product, Users, Industry Trends, Share, Growth, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.

Global E-commerce market turned into valued at US$ 18.98 Trillion in 2022. Global E-Commerce market size is projected to reach US$ 47.73 Trillion by 2030. Global E-commerce market is growing at a CAGR of 12.22% from 2022 to 2030.

Over the few years, E-commerce has promptly geared its popularity thanks to the ease and simplicity in changing the items and services throughout distinctive regions in the arena. There are 2.14 billion eCommerce shoppers out of around 8 billion people globally. Like different market segments, the retail sector is also witnessing great revolution thanks to the continued digitalization, and the arrival of Abstract advanced technology. Global e commerce marketing is becoming an critical element of companies strategy, in which, it contributes significantly to the monetary improvement of a country.

The amalgamation of information and communications technology concept in the corporations have brought about a revolutionization of relationships among people and companies as nicely as within the companies. Advancements and incorporation of technology such as artificial intelligence and big information standards, in companies offers mass customization, growth in quantity of capacity consumers, along with more desirable productivity, and sales generation of the general corporations.

The e commerce global market is predicted to witness surge in increase due to wide variety of different elements such as developing Internet services with hello-pace bandwidth, extraordinary mobile penetration, market stability, product personalization and localization alongside with declining Internet expenses.

Additionally, growth in seamless and uninterrupted Internet offerings is predicted to boost the on-line shopping publicity of consumers thereby favorably impacting the normal E-commerce market growth. In maximum of the markets, the customers are shifting their shopping desire in the direction of online structures, in evaluation to the brick-and-mortar options. This can specially be attributed to the truth that those modes provide varied range of products, notable consumer convenience wherein, those offer seamless services to the customers.

In addition to these, the online buyers nowadays, emphasize on the factors such as assurance and quicker shipping in their purchase choices, and e-commerce caters to those necessities of the customers. Apart from benefits offered by means of the e-commerce area to the stores, it is strategically very important for the firms to position themselves in the market, if you want to cater to the converting competitive state of affairs.

Due to the lower value of verbal exchange and infrastructure, hooked up companies and massive organizations are gravitating closer to online industry. E-commerce permits the enterprise to attain out to consumers extra effectively, resulting in crucial exposure to the firm. Online advertising tools inclusive of Google classified ads Instagram, wechat and Facebook commercials additionally drive global e-commerce market growth.

B2C E-commerce zone continues to thrive, poised for sustained growth and transformation in the years beforehand

By Model Type, Global E-commerce market is segmented into Business to Business and Business to Consumers. Business-to-client (B2C) e-commerce is undeniably the quickest-developing phase in the global e commerce market. This fast expansion can be attributed to several key elements. The good sized net penetration and extended smartphone usage have empowered customers to store on line with no trouble. Secondly, the COVID-19 pandemic improved the shift to digital buying, with customers who prefer the protection and comfort of online transactions.

Additionally, B2C E-commerce offers a sizeable array of products and services, from fashion and electronics to groceries and enjoyment, catering to various customer needs. E-tailers continuously innovate, improving the person revel in via personalized suggestions, smooth payment options, and efficient shipping services.

Apparel and accessories command the highest market share in the global e-commerce panorama

Apparel and add-ons reign best in the global E-commerce market, securing the very best market share. This dominance may be attributed to an ideal fusion of style, comfort, and the ever-evolving virtual panorama. Shoppers global locate the appeal of digital aisles stocked with contemporary clothing, shoes, and add-ons impossible to resist. The ease of browsing, comparing prices, and getting access to an array of brands from the comfort in their homes has fueled this fashion.

Additionally, modern sizing charts, virtual strive-ons, and trouble-unfastened return guidelines have in addition boosted the attraction of online apparel purchasing. As the fashion industry continuously adapts to the net realm, it is obtrusive that clothing and accessories will maintain their stronghold because they are the frontrunners in the e-commerce market global.

In the imminent years, virtual wallets are poised to dominate the global E-commerce market with the best market revenue

By Payment Methods, Global E-commerce market is segmented into Digital Wallet, Credit Card, Debit Card, Account-to-Account (A2A), Buy Now, Pay Later (Bnpl), Cash on Delivery, Prepay and Other - Incl. Crypto foreign money. In the approaching years, digital wallets are expected to become the dominant force in the global e-commerce industry, both in the term of market share and revenue. This transformation is driven via remarkable convenience, allowing customers to make rapid, stable, and contactless transactions across diverse on line systems.

With the expected rise in mobile device penetration, the compatibility of digital wallets with UPI transactions becomes more apparent. Their seamless integration with smartphones and the development of biometric authentication mechanisms makes them attractive great again. The continued expansion of the e-commerce ecosystem and the growing acceptance of digital currencies both contribute to the anticipated rise in digital wallet acceptance and consequent readiness to restructure the economy, and ultimately achieve e- commerce sales in the coming years.

Rising reputation of on-line purchasing ended in an increase in the number of online consumers within the China

China populace drives the world's biggest E-commerce market, which has swiftly developed due to high internet and smartphone usage, developing patron agree with in online buying, emergence of e-commerce platforms, and various charge options.

Alipay and WeChat Pay, prominent alternative pay solutions, thrive with Alipay dominating Alibaba's e-commerce platforms and WeChat Pay leveraging its social media person base. As Chinese consumers increasingly undertake e-commerce, these payment techniques will continue to grow. Additionally, low-cost shipping offerings, facilitated by using China's migrant hard work pressure, permit JD.Com and Alibaba Group to offer nationwide same-day delivery, similarly propelling the market's enlargement.

Company Analysis: Overview, Recent Developments, Sales Analysis

Rakuten, Inc
Amazon.com, Inc.
Alibaba Group Holding Limited
Walmart Inc.
eBay Inc.
Zalando SE
Otto Group
JD.com, Inc.

Model Type: This report covers the ecommerce market in 2 viewpoints

B2B - Business to Business
B2C - Business to Customer

Product: This report covers the ecommerce market in 10 viewpoints

Auto and Parts
Food and Beverage
Apparel and Accessories
Health and Personal Care and Beauty
Computer and Consumer Electronics
Office Equipment and Supplies
Toys and Hobby
Furniture and Home Furnishing
Books/Music/Video
Other

Digital Payment: This report covers the ecommerce market in 8 viewpoints

Digital Wallet
Credit Card
Debit Card
Account-to-Account (A2A)
Buy Now, Pay Later (Bnpl)
Cash on Delivery
Prepay
Other - Incl. Cryptocurrency

Country: 27 Countries ecommerce Market is Covered in the Report

North America
United States
Canada
Latin America
Brazil
Mexico
Argentina
Europe
United Kingdom
France
Germany
Spain
Italy
Netherlands
Norway
Sweden
Switzerland
Russia
Turkey
Asia Pacific
India
China
Japan
Indonesia
Korea
Australia
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of the World

For more information about this report visit https://www.researchandmarkets.com/r/rvgkrg

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets