Updated News: Growing Mobile And Internet Penetration Is Expected To Boost The Growth Of The Global E-Commerce Market During The Forecast Period
Global E-Commerce Market: Key Highlights
- The Global E-Commerce Market is estimated to reach USD 26.34 trillion by 2027 at a CAGR of 13.9% during the review period
- The global E-Commerce Market is segmented by into business type and end-user.
- Based on basis of type, the market is bifurcated into business-to-business (b2b) and business-to-consumer (b2c). The business-to-business (b2b) is projected to get the largest share. The growing penetration of smartphones, coupled with internet usage, is projected to fuel the B2B e-commerce in the forecast period.
- On the bases of region, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa
- North America accounted for the major market share as the region one of the highest Internet penetration rates.
- Top players that account for the major share include Alibaba Group Holding Ltd, Amazon.com, Inc., Apple Inc., Best Buy Co Inc., Dell Inc., eBay Inc., Flipkart.com, Home Depot Inc., JD.com, Inc., Walmart Inc., and among others.
Global E-Commerce Market: Key Market Dynamics
- There has been growing mobile and Internet penetration is play a significant role for The E-Commerce market. The rising developing infrastructure facilities as well as the surging the number of internet users are projected to boost the market growth
- The rising flexible online selling framework is also lead to enhance the demand of the E-Commerce Market growth.
- Further, rising number of small and medium enterprises is create a significant opportunities for the market.
- However, lack of implementation of technical platforms are hindering the growth of the market.
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Global E-Commerce Market: Regional Overview
- North America region is further divided in to the US, Canada and Mexico. Globally, North America accounted for the major market share.
- The outbreak of COVID-19, there is increasing the demand for E-Commerce packaging in the region is projected a significant growth, due to the rising demand for medicine, food, as well as the various other essential goods.
- As per the Consumer Technology Association, in 2019 the retail revenue from consumer electronics or technology sales in the US was more the USD 400 million, and it been projected to reach by USD 422 million by the end of FY 2020.
- According to Adobe’s Digital Economy Index’s data, the US e-commerce increased by more than 40% in April, FY 2020, as compared to the baseline period in early march before shelter-in-place restrictions came into effect.
- Asia-Pacific region is segmented into five major countries including China, Japan, India, Australia, and South Korea.
- Asia-Pacific is projected grow at the fastest growth rate with the growing infrastructure facilities as well as rising the number of internet users are projected to boost the market.
- On October 2019, the government e-Marketplace (GeM) had signed a Memorandum of Understanding (MoU) with the Union Bank of India to facilitate a cashless, paperless as well as the transparent payment system for an array of services.
- For example, in 2019 the Government of India had released the Draft National E-Commerce Policy which helps to encourages FDI in the marketplace model of E-commerce.
Global E-Commerce Market: Key Players
Some of the key players operating in the market include Alibaba Group Holding Ltd, Amazon.com, Inc., Apple Inc., Best Buy Co Inc., Dell Inc., eBay Inc., Flipkart.com, Home Depot Inc., JD.com, Inc., Walmart Inc., and among others.
Global E-Commerce Market: Key Developments
- On September 2018, the Flipkart has completed its acquisition of Upstream Commerce, an analytics start-up based in Israel. This is projected to lead to benefit Flipkart Pvt. Ltd. to price as well as position its products in an economical way.
- On August 2019, the Amazon has acquired 49% stake in a unit of Future Group.
- On September 2019, the Alibaba Group Holding Limited had announced the acquisition of NetEase, Inc., a company offering online e-commerce services.
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