According to IMARC Group’s latest report, titled “E-Commerce Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global e-commerce market size reached US$ 16.6 Trillion in 2022. Looking forward, IMARC Group expects the market to reach US$ 70.9 Trillion by 2028, exhibiting a growth rate (CAGR) of 27.43% during 2023-2028.
E-commerce involves the purchasing and selling of various services and consumer goods by connecting sellers with potential customers via the internet. It comprises various business transaction models, such as business-to-business (B2B), business-to-consumer (B2C), consumer-to-business (C2B), and consumer-to-consumer (C2C). It is an effective solution for small and medium-sized enterprises (SMEs) to expand their business and boost their sales. It helps streamline business processes with various upgraded technology and effective marketing strategies. It also assists companies in managing wholesale, dropshipping, and crowdfunding activities. It enables merchants to reduce operating costs and eliminate the requirement of managing a physical store. As e-commerce is convenient, scalable, and profitable, it finds applications in the retail, fashion, electronics, food and beverage (F&B), and automotive industries across the globe.
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Market Trends:
At present, the rising demand for e-commerce among businesses to operate globally and conduct borderless transactions represents one of the primary factors influencing the market positively. Besides this, there is an increase in the online shopping activities among individuals to avail various offers and discounts and avoid traveling to stores. This, along with the growing utilization of numerous online payment apps to make cashless transactions, is offering a favorable market outlook. In addition, the rising availability of various consumer products, along with the increasing occurrence of lucrative sales throughout the year, is contributing to the growth of the market. Moreover, the escalating demand for consumer-based business models to analyze the preferences of buyers and provide them with personalized products is bolstering the growth of the market.
List of Key Companies Covered in this Market Report:
- Alibaba Group Holding Limited
- com Inc.
- Apple Inc.
- B2W Companhia Digital (Lojas Americanas S/A)
- Ebay Inc.
- Groupon Inc.
- Rakuten
- Walmart Inc.
- Zalando SE
The report has segmented the market on the basis of type, transaction and geography.
Breakup by Type:
- Products
- Home Appliances
- Apparel, Footwear and Accessories
- Books
- Cosmetics
- Groceries
- Others
- Services
- Financial
- Digital Content
- Travel and Leisure
- Others
Breakup by Transaction:
- Business-to-Consumer
- Business-to-Business
- Consumer-to-Consumer
- Others
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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