Covina, May 08, 2023 (GLOBE NEWSWIRE) -- “According to the latest research study, the demand of E-commerce Market accounted for US$ 13.5 Trillion in 2022 and is estimated to be US$ 69.1 Trillion by 2032 and is anticipated to register a CAGR of 16.7% over the forecast period”
Online intermediaries, direct sellers, community-based, advertising-based, and fee-based are the different e-commerce business-to-consumer models. Retailers to wholesalers are examples of business-to-business models. Amazon has become the biggest E-commerce company in the world.
Growing inclination towards online selling and buying goods has increased demand for E-commerce market growth. Expanding employment opportunities, working women, disposable income, and a busy lifestyle have allowed purchasing products online without visiting shops which, in turn, facilitated the E-commerce market growth.
What are the recent news in the E-commerce Market?
- In April 2023, JD.com launched new “France E-commerce Week” promotion to offer discounts on high quality based French products and to strengthen its position in market.
- In August 2022, eBay Inc., launched new GXP (Global Xpansion Program) for Indian businesses to scale up beyond borders to over 190 countries on eBay platform.
| Attribute | Details |
| Base year for estimation | 2022 |
| Forecast period | 2022 – 2032 |
| Accounted in 2022 | US$ 13.5 Trillion |
| Estimated to be in 2032 | US$ 69.1 Trillion |
| CAGR | 16.7% |
| Market representation | Revenue in USD Trillion & CAGR from 2022 to 2032 |
| Market Segmentation | By Model Type - Business to Consumer (B2C), Business to Business (B2B) |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
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What is Prophecy’s Analyst View on E-commerce Market?
Presence of major key players and opening of new online platforms has foster the market growth. High penetration of internet and rapid growth in online shopping is expected to fruitful the demand for E-commerce market growth. Growing small and medium enterprises and technological innovation is further, expected to boost the E-commerce market growth over the forecast period.
What are newly Trending Technologies that are impacting the E-Commerce Market?
- Augmented Reality (AR) for immersive shopping experiences
- Voice Commerce for shopping using voice-enabled devices like Amazon Echo and Google Home
- Artificial Intelligence (AI) for personalized recommendations, chatbots, and improved customer service
- Blockchain for secure and transparent transactions and supply chain management
- Virtual Reality (VR) for virtual showrooms and product demonstrations
- Mobile Optimization for enhanced user experience on smartphones and tablets
- Internet of Things (IoT) for smart devices that can interact with e-commerce platforms, such as smart home appliances that can order groceries automatically
- Social Commerce for integrating e-commerce with social media platforms to increase customer engagement and drive sales.
What are Impact of Ukraine-Russia War E-commerce Market?
The ongoing Ukraine-Russia war has disrupted supply chains, led to currency fluctuations, changed consumer behavior, increased demand for local products, and made cross-border e-commerce more challenging. As a result, the e-commerce market in the region has been significantly impacted, with both positive and negative effects on different companies and sectors.
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How has the COVID-19 pandemic affected the E-Commerce Market?
The COVID-19 pandemic has had a significant impact on the e-commerce market, disrupting the industry in a number of ways. With physical stores closed or limited in capacity, more people have turned to online shopping, leading to a surge in e-commerce sales, particularly for essential goods. This has led to a shift in consumer behavior, with many people adopting new shopping habits and preferences such as online grocery shopping and contactless delivery. However, the pandemic has also disrupted global supply chains, leading to shortages and delays in product availability.
Small businesses have been particularly hard hit by the pandemic, struggling to compete with larger e-commerce companies. To survive, many small businesses have had to pivot to online sales, while others have closed down altogether. The pandemic has accelerated the trend towards digital transformation, with many businesses investing in e-commerce and other digital channels to reach customers. While the pandemic has posed challenges to the e-commerce market, many of these changes are expected to persist even after the pandemic subsides.
Who are the Top Key players operating in the E-commerce Market?
- Amazon.com Inc.*
- Apple Inc.
- Flipkart Private Limited
- eBay Inc.
- JD.com Inc.
- Alibaba Group Holding Limited
- The Home Depot
- Best Buy
- Walmart Inc.
- Wayfair Inc.
Conclusion:
In conclusion, the e-commerce market has been significantly impacted by the COVID-19 pandemic. While the pandemic has led to a surge in e-commerce sales, it has also disrupted supply chains and changed consumer behavior, leading to challenges for businesses. Small businesses have been particularly affected, and many have had to adapt to survive. However, the pandemic has also accelerated the trend towards digital transformation, with many businesses investing in e-commerce and other digital channels.
As the world continues to navigate the pandemic and its aftermath, the e-commerce market will continue to evolve, with new innovations and trends emerging in response to changing consumer needs and behaviors.
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