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The digital commerce market is projected to grow by USD 3.43 trillion with a CAGR of 15.93% during the forecast period 2021 to 2026.
This digital commerce market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers digital commerce market segmentations by business segment (business to business and business to consumer) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The digital commerce market report also offers information on several market vendors, including Alibaba Group Holding Ltd., Amazon.com Inc., Apple Inc., Best Buy Co. Inc., Costco Wholesale Corp, eBay Inc., Flipkart Internet Pvt Ltd, JD.com Inc., MercadoLibre Inc., NASPERS Ltd., Otto GmbH and Co. KG, Rakuten Group Inc., Shopee Ltd., Shopify Inc., The Home Depot Inc., Trendyol BV, Walmart Inc., Wayfair Inc., Zalando SE, and Meituan Dianping among others.
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Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the digital commerce market. During the COVID-19 pandemic, the digital commerce market demand has been impacted greatly. A holistic analysis of drivers will help in predicting exact demands and refining marketing strategies to gain a competitive advantage.
Key Digital Commerce Market Driver
Robust internet penetration is one of the key drivers supporting digital commerce market growth. With the increasing penetration of the Internet, the number of people using smartphones around the world is increasing. Therefore, customers' technological perception is expected to positively impact the growth of the market during the forecast period. Moreover, the implementation of 4G and 5G technologies for connectivity is expected to positively impact the growth of the market as they provide users with an uninterrupted and seamless experience.
Key Digital Commerce Market Trend
Advancements in technological digital commerce platforms are one of the key digital commerce market trends contributing to market growth. Blockchain technology enables e-commerce businesses to run their operations more effectively and inexpensively. The processing time for goods at customs checkpoints is shortened by the use of smart contracts in blockchain technology, which streamlines and expedites approvals and customs clearance processes. Additionally, vendors are utilizing artificial intelligence (AI) to maximize the performance of e-commerce platforms. AI can be utilized to develop chatbots that assist customers. Thus, the rapid advancement in technology is expected to boost the growth of the market during the forecast period.
Key Digital Commerce Market Challenge
Growing data privacy and security concerns are one of the factors hindering the digital commerce market growth. Payment service providers use cookies to collect personal data and information about their customers. Cookies allow service providers to collect data about a customer profile, behavior, and data mining. Any use of this data may compromise customer privacy. Data collected on smartphone devices may be processed and stored by providers and misused. As smartphones are used for real-time financial transactions, data theft can result in financial losses for consumers. For security reasons, consumers are reluctant to reveal their bank account details in online transactions. Therefore, rising concerns among consumers about data privacy may hinder the growth of the market during the forecast period.
This digital commerce market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global digital commerce market as a part of the global internet and direct marketing retail market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the digital commerce market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the digital commerce market encompasses successful business strategies deployed by the key vendors. The digital commerce market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position, and information on production and sustainability along with this report provides a detailed analysis of several leading Companies.
Our In-house experts produce extensive information on the value chain and parent market of the digital commerce market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
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54% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the digital commerce market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Rapid infrastructure development and the increasing number of Internet users will facilitate the digital commerce market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In 2020, the COVID-19 outbreak accelerated the expansion of digital commerce in APAC. Moreover, the average percentage of Internet users who shopped online increased from 53% in 2019 to 60% in 2021. Thus, the convenience of online shopping is expected to continue even after the pandemic. Such factors are expected to drive the growth of the regional market during the forecast period.
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The digital commerce market share growth in the business-to-business segment will be significant during the forecast period. The increase in Internet penetration and wireless broadband is one of the key drivers for the growth of the global B2B digital commerce segment as it drives social and mobile phenomena in the market.
This report provides an accurate prediction of the contribution of all the segments to the growth of the digital commerce market size and actionable market insights on the post-COVID-19 impact on each segment.
Digital Commerce Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.93% |
Market growth 2022-2026 |
$3.43 tn |
Market structure |
Fragmented |
YoY growth (%) |
15.1 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 54% |
Key consumer countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Alibaba Group Holding Ltd., Amazon.com Inc., Apple Inc., Best Buy Co. Inc., Costco Wholesale Corp, eBay Inc., Flipkart Internet Pvt Ltd, JD.com Inc., MercadoLibre Inc., NASPERS Ltd., Otto GmbH and Co. KG, Rakuten Group Inc., Shopee Ltd., Shopify Inc., The Home Depot Inc., Trendyol BV, Walmart Inc., Wayfair Inc., Zalando SE, and Meituan Dianping |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Business Segment
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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