Global E-commerce Market Size to Reach USD 53.27 Trillion in 2032 | Emergen Research

Vancouver, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The global e-commerce market size was USD 14.40 Trillion in 2022 and is expected to register a revenue CAGR of 14.0% during the forecast period, according to the latest analysis by Emergen Research. Rising availability of the Internet and increasing adoption of smartphones are major factors driving the market revenue growth. E-commerce encompasses all actions involving purchase or sale of products and services over the Internet. Individuals can buy everything from apparel to sports equipment to software solutions and other services. Customers save time when shopping for what they want and can choose any product or service they desire from anywhere through e-commerce sites which is driving the market revenue growth.

Growing technological advancements is a major factor driving the market revenue growth. For instance, on 6 September 2023, Open Network for Digital Commerce (ONDC) and Google Cloud announced a partnership to use generative Artificial Intelligence (AI) to promote e-commerce in India. ONDC and Google Cloud launched a new India-wide hackathon and an extension of their existing ONDC program to foster scaled innovation across the e-commerce industry in India. The event also intends to build an open ecosystem of developers, students, and companies working inside the ONDC framework to innovate.

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However, when doing business online, there is always a risk of security breaches which is a major factor restraining the market revenue growth. Unauthorized individuals can obtain access to the website and view sensitive data if website security is inadequate.

Scope of Research

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Major Companies and Competitive Landscape

The global e-commerce market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market. Some major players included in the market report are:

• Amazon.com, Inc.
• Alibaba.com.
• eBay Inc.
• Walmart.
• Ebates Performance Marketing Inc.
• ASOS.
• Etsy, Inc.
• Flipkart.com.
• Pinduoduo.
• Mercado Libre.
• Wayfair LLC.
• BedBathAndBeyond.com, Inc.
• Noon.
• Lazada.
• Newegg Inc.
• Target Brands, Inc.
• Clues Network Pvt. Ltd.
• Snapdeal Limited.
• BOOHOO.
• Net-a-Porter.

Strategic Development

• On 5 June 2023, eBay, a global commerce leader that connects millions of buyers and sellers around the world, and Techstars, announced Techstars Future of E-commerce powered by eBay, a new accelerator program designed to support startups working on innovative technologies that help to shape the future of e-commerce. eBay's mission is to connect people and communities to generate economic opportunity for all.

Some Key Highlights from the Report

• Business to Consumer (B2C) segment accounted for a significantly large revenue share in 2022. The majority of enterprises are B2C, including brick-and-mortar stores, online merchants, restaurants, and others which in turn is driving revenue growth of this segment. For instance, a company that sells software to other companies can create a consumer-facing app that makes use of that product. Business-to-consumer transactions can take place at any time of day or night in the context of online commerce. Direct-to-consumer firms frequently provide their items at a discount to customers since they do not have to pay commissions to any middlemen which is also contributing to revenue growth of this segment. One of the advantages of B2C business model is that it allows enterprises to access a larger number of customers which results in improved sales and revenue.
• The mobile segment accounted for a significantly large revenue share in 2022. Rising demand for online shopping through mobile among individuals since mobile shoppers enjoy quicker and simpler access to the latest information owing to push alerts that highlight the discounts and new product releases is a major factor driving revenue growth of this segment. Moreover, Omni channel approach broadens the options for marketing materials and increases interaction via a variety of channels, including SMS, mobile apps, social media platforms, and emails. Mobile devices are portable, as a result, it allows customers to shop whenever and wherever they want. Data from a user's mobile device can be used by mobile apps and websites to deliver personalized product recommendations, resulting in a more engaging shopping experience which is also driving revenue growth of this segment.

• The market in Asia Pacific accounted for largest revenue share in 2022. Growing availability of the Internet and rising adoption of smartphones have made it easier for people to access online stores and make purchases which is a major factor driving the market revenue growth. Moreover, growing strategic initiatives taken by the companies are also contributing to the market revenue growth in this region. For instance, on 19 June 2023, In India, Maersk introduced an e-commerce fulfillment service with all aspects available through a single window. This solution was designed primarily for a typical small or medium e-commerce business in India that relies on multiple logistics partners for various activities. Maersk's solution removes complexities from clients' supply chains by offering a single point of contact for all essential solutions such as warehouse storage, last-mile deliveries, and return order execution, while giving end-to-end visibility and unified pricing.

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Emergen Research has segmented the global e-commerce market on the basis of business model, product categories, purchase frequency, shopping device, payment methods, distribution channel, technological advancements, and region:

• Business Model Outlook (Revenue, USD Trillion; 2019–2032)

• • B2C (Business to Consumer)
  • B2B (Business to Business)
  • C2C (Consumer to Consumer)
  • C2B (Consumer to Business)
  • G2C (Government to Consumer)

• Product Categories Outlook (Revenue, USD Trillion; 2019–2032)

• • Apparel and Fashion
  • Electronics and Appliances
  • Health and Beauty
  • Home and Furniture
  • Automotive
  • Books and Media
  • Food and Grocery
  • Toys and Games
  • Sports and Outdoors
  • Jewelry and Accessories
  • Industrial and Machinery
  • Art and Collectibles

• Purchase Frequency Outlook (Revenue, USD Trillion; 2019–2032)

• • Regular Shoppers
  • Occasional Shoppers
  • Seasonal Shoppers

• Shopping Device Outlook (Revenue, USD Trillion; 2019–2032)

• • Desktop/Laptop
  • Mobile
  • Tablet

• Payment Methods Outlook (Revenue, USD Trillion; 2019–2032)

• • Credit/Debit Card
  • Digital Wallets
  • Cryptocurrencies
  • Buy Now, Pay Later (BNPL)

• Distribution Channel Outlook (Revenue, USD Trillion; 2019–2032)

• • Website
  • Mobile Apps
  • Social Media
  • Others

• Technological Advancements Outlook (Revenue, USD Trillion; 2019–2032)

• • Pure Play E-commerce

• Regional Outlook (Revenue, USD Trillion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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