Global E-Commerce Market Report 2023: Sector is Expected to Reach $70.9 Trillion by 2028 at a CAGR of 27.38%

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Apr 25, 2023, 12:30 ET

DUBLIN, April 25, 2023 /PRNewswire/ -- The "E-Commerce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global e-commerce market size reached US$ 16.6 Trillion in 2022. Looking forward, the publisher expects the market to reach US$ 70.9 Trillion by 2028, exhibiting a CAGR of 27.38% during 2022-2028.

Companies Mentioned

Alibaba Group Holding Limited
Amazon.com Inc.
Apple Inc.
B2W Companhia Digital (Lojas Americanas S/A)
Ebay Inc.
Groupon Inc.
Rakuten
Walmart Inc.
Zalando SE

E-commerce, or electronic commerce, refers to the commercial transactions that are conducted electronically through the internet. It involves buying and selling consumer products, marketplace services and customer support, along with other activities, such as online auctions, payment gateways, online ticketing and internet banking.

E-commerce is usually classified based on numerous business models, which include Business to Business (B2B), Business to Customer (B2C), Customer to Business (C2B) and Customer to Customer (C2C). It offers various benefits to the seller, such as a global reach, minimal transaction costs, higher margins of profit, direct communication between the parties involved and quick delivery of goods and services.

Rapid urbanization across the globe is one of the key factors driving the growth of the market. Furthermore, increasing internet penetration and usage of devices, such as smartphones, laptops and tablets to access e-commerce portals, is also providing a boost to the market growth.

E-commerce enables organizations to conduct business without maintaining a physical presence, thereby minimizing the infrastructure, communication and overhead costs. The market is further driven by the increasing preference for online shopping, especially among women, and the growing influence of social networking platforms on shopping habits. Online retail channels provide a hassle-free shopping experience to the consumers while displaying a wide variety of products to choose from, at affordable price-points.

Additionally, the advent of private-label and direct to consumer-based business models is also creating a positive outlook for the market growth. This enables the organizations to collect and use consumer data and provide personalized products and experiences to the consumer. The spread of the coronavirus disease (COVID-19) has provided a further push to e-commerce activities as customers shift toward online platforms for ordering essential items amid lockdown and social distancing measures.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global e-commerce market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and transaction.

Breakup by Type:

Home Appliances
Apparel, Footwear and Accessories
Books
Cosmetics
Groceries
Others

Breakup by Transaction:

Business-to-Consumer
Business-to-Business
Consumer-to-Consumer
Others

Key Questions Answered in This Report
1. How big is the global e-commerce market in 2022?
2. What is the expected growth rate of the global e-commerce market during 2023-2028?
3. What are the key factors driving the global e-commerce market?
4. What has been the impact of COVID-19 on the global e-commerce market?
5. What is the breakup of the global e-commerce market based on the type?
6. What is the breakup of the global e-commerce market based on the transaction?
7. What are the key regions in the global e-commerce market?
8. Who are the key players/companies in the global e-commerce market?

For more information about this report visit https://www.researchandmarkets.com/r/ojjdg3

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SOURCE Research and Markets