Global Cross-Border B2C E-Commerce Market Size is Predicted to Hit Around USD 3,042.2 Million by 2028 With a Registered CAGR of 25.1% from 2022 to 2028

WASHINGTON, Sept. 20, 2022 (GLOBE NEWSWIRE) -- Increase in export & import of goods & services across the world and rising expansion of trades globally has fuelled the demand for B2C E-Commerce among firms. Furthermore, businesses look forward to deal with different countries for their expansion, which boosts the cross-border business transactions. In addition, increase in usage of technology in B2C E-commerce and rapid development of the domestic SMEs & medium-sized companies engaging into massive trades act as the key driving forces of the Global Cross-Border B2C E-Commerce Market. The total Global Cross-Border B2C E-Commerce Market is estimated to reach USD 3,042.2 Million by 2028.

The revenue of the Global Cross-Border B2C E-Commerce Market stood at a value of USD 793.7 Million in the year 2021, and is expected to grow at a Compound Annual Growth Rate (CAGR) of 25.1%, states Vantage Market Research, in a report, titled “Cross-Border B2C E-Commerce Market Size, Share & Trends Analysis Report by Category (Entertainment & Education, Apparel & Accessories, Consumer Electronics, Home Furnishing), by Payment Method (Digital Wallets, Credit/Debit Cards, Internet Banking, Others), by Offering (In-House Brands, Assorted Brands), by End-User (Adults, Teenagers/Millennial, Senior Citizens, Others), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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Key Industry Findings & Insights from the report:  

• The global Cross-Border B2C E-Commerce Market was valued USD 793.7 Million in 2021 and is all set to surpass USD 3,042.2 Million by 2028, exhibiting a CAGR of 25.1% during the forecast period 2022-2028.           
• In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
• In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
• The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
• Asia Pacific captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Cross-Border B2C E-Commerce industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.
  

List of Prominent Players in the Cross-Border B2C E-Commerce Market:

• Amazon.com Inc.
• Etsy Inc
• eBay Inc
• Alibaba Group
• Wish Inc
• Vee Pee
• Cnova
• Asos Plc
• Fruugo
• JD.com (Jing Dong)
• Apple Inc
• DHL Group
• A Commerce
• Box Me
• Pay pal
• Asia Commerce
• Sing Post
• Shipping Cart
• Anchanto
  

Market Dynamics:

Drivers:

Rising Partnership among FinTech & B2C E-Commerce Companies

Bank-FinTech collaborations have emerged as a viable, lucrative growth path for both sides of these partnerships. For traditional financial institutions (FIs), working with a would-be competitor means integrating technologies for customers without having to build solutions from scratch.

For instance, U.K.-based building society Nationwide has provided USD 19.67 million to speed up 10 times for Future Technologies which is a start-up focused on improving the banking experience for end-customers. Nationwide's participation in the firm's Series B investment has given the building society a minority stake in the firm, and will enable the companies to collaborate on developing a digital business banking platform as Nationwide gears up to launch its business current account services later this year.

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Segmentation of Cross-Border B2C E-Commerce Market:

By Category -(Revenue- USD Million, 2016-2028)

• Entertainment & Education
• Apparel & Accessories
• Consumer Electronics
• Home Furnishing
• Personal Care & Beauty
• Healthcare & Nutrition
• Footwear
• Food & Beverage
• Others
  

By Payment Method -(Revenue- USD Million, 2016-2028)

• Digital Wallets
• Credit/Debit Cards
• Internet Banking
• Others

By Offering -(Revenue- USD Million, 2016-2028)

• In-House Brands
• Assorted Brands

By End-User (Customizable)-(Revenue- USD Million, 2016-2028)

• Adults
• Teenagers/Millennial
• Senior Citizens
• Others

By region- (Revenue- USD Million, 2016-2028)

North America-

• The US
• Canada
• Mexico
  

Europe-

• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Argentina
• Rest of Latin America
  

Middle East & Africa-

• GCC Countries
• South Africa
• Rest of Middle East and Africa
  

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Increase in Cross Border Trading

Cross-border payments are transactions that involve transferring money between people and businesses from one country to another. They are carried out through financial institutions and the correspondent banking network (CBN) that are directly related to sending and receiving funds. The Internet and the transfer to online businesses contributed to the rapid growth of world trade over the years. Therefore, most financial institutions and payment systems have developed cross-border B2C E-Commerce payments to facilitate and speed up money transactions, thus helping the market to flourish in the forecast years. The trusted and reliable banking approach came across the challenges from rising solutions, hence major key players and models are modifying the fintech world.

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Cross-Border B2C E-Commerce service industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

1. Impact Assessment of COVID-19 Pandemic
   1. North America
   2. Europe
   3. Asia Pacific
   4. Latin America
   5. Middle East & Africa
2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long Term Dynamics
5. Short Term Dynamics

The Report on Cross-Border B2C E-Commerce Market Highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• COVID Impact Analysis
• Historic Data, Estimates and Forecast
• Company Profiles
• Global and Regional Dynamics
  

Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on "Cross-Border B2C E-Commerce Market Size, Share & Trends Analysis Report by Category (Entertainment & Education, Apparel & Accessories, Consumer Electronics, Home Furnishing), by Payment Method (Digital Wallets, Credit/Debit Cards, Internet Banking, Others), by Offering (In-House Brands, Assorted Brands), by End-User (Adults, Teenagers/Millennial, Senior Citizens, Others), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".

Regional Analysis:

Asia Pacific Holds Maximum Market Share

Asia Pacific is expected to dominate the growth of Cross-Border B2C E-Commerce Market in 2021. This is attributed to increase in adoption of virtual card accounts among the commercial line businesses in the developing nations of Asia-Pacific. In addition to this, growing adoption of advance payment system among the business and growing presence of major players of the market drives the growth of the Cross-Border B2C E-Commerce Market in this region.

Key Questions Answered in The Report:

• Which region will show the fastest and highest growth in the near future?
• Which are the top five players and their weakness and strength of the Market?
• What will be the future innovation in the upcoming six years?
• Which application and product will lead the largest share of the Market?
• What are the growth drivers, restraints and challenges of the industry?
• What will be the CAGR and size of the Cross-Border B2C E-Commerce Market for the base year and forecast period?         

This market titled “Cross-Border B2C E-Commerce Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

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The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.

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