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The Global E-commerce market size is estimated to grow by USD 12,951.56 billion between 2022 and 2027 accelerating at a CAGR of 27.15%. The growth of the market depends on several factors, including the advantages of e-commerce platforms, advanced targeting options, and the rise in online spending and smartphone penetration.
This E-commerce market research report extensively covers market segmentation by application (home appliances, fashion products, groceries, books, and others), type (B2B and B2C), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving growth in the e-commerce market is the advantages of e-commerce platforms. The growth of the global e-commerce market is fueled by the shift of consumers to e-commerce platforms. Online shopping portals not only offer a wide range of B2C online shopping products, but also a convenient experience.
The entry of offline merchants into the online platform is also shaping the B2C e-commerce market, which is expected to grow significantly during the forecast period. Therefore, the aforementioned benefits of e-commerce platforms will focus on the growth of the market during the forecast period.
Enhancement of consumer experience through technologies is the primary trend in market growth. The progress and development of technology have expanded into various areas of e-commerce. The integration of various technologies such as Augmented Reality (AR) and Virtual Reality (VR) by suppliers has helped customers to choose the best home décor for their homes. The app allows users to enter rooms into the app and then select items from a list provided by the company.
Moreover, consumers can see almost all the different colours and textures of a product by pointing their smartphones at a specific product. It also allows users to see similar products in the same range and helps them choose the products they want. Once customers create a space virtually, they can order products directly online using the app. Such technological innovations will fuel the growth of the global e-commerce market during the forecast period.
The regulatory issues will be a major challenge for the e-commerce market during the forecast period. The global e-commerce market is affected by various regulatory issues such as the following: Inconsistent laws Any business requires consistent rules and regulations. Even developed countries, such as the US, are debating the applicability of central and state taxes on e-commerce transactions. This also indicates the inconsistency in legal and tax regulations in less-developed countries.
Domestic incorporation Governments in many countries treat domestic e-commerce websites differently from international e-commerce websites to boost employment and business opportunities in the country. This generates the need for international e-commerce companies to incorporate their businesses locally to avail of various benefits from regional markets.
The E-commerce market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global E-Commerce Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alibaba Group- The company offers e-commerce such as online shopping and marketing, communications, social networking, entertainment, logistics, and other services.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The E-commerce market share growth by the home appliances segment will be significant during the forecast period. The home appliances segment includes consumer electronics, houseware, and other kitchen appliances. It is matured, and its growth rate has been declining over the past few years. The key challenging factor of this segment is the lack of an integrated end-to-end logistics platform for the delivery of home appliances purchased online. This is because supply is more important than demand, and in developing countries, there are significant logistical barriers.
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The home appliances segment was valued at USD 1,099.73 billion in 2017 and continue to grow by 2021. Another major factor influencing the growth of the segment is the improving recycling initiatives. In 2020, consumer-generated electronic waste (e-waste) decreased by 9% and became the fastest-declining segment in the municipal waste stream. With the advent of the Internet of things (IoT), which uses smart energy in consumer electronics, the percentage of e-waste is expected to decrease further during the forecast period.
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APAC is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC is the fastest-growing market of e-commerce due to the growing buying power of the middle-class population. The region comprises countries such as Pakistan, Bangladesh, and Indonesia that are considered to be late adopters of digital technology. The e-commerce market in these countries is expected to grow significantly during the forecast period, which will be the primary factor influencing the market in this region.
The sudden increase in the number of COVID-19 cases in China, South Korea, India, and Malaysia had a positive impact on the growth of the e-commerce technology market in the region in 2020. Moreover, the shift to online platforms to purchase goods and services provided high growth opportunities for market vendors during 2020-2021. Moreover, the region entered the phase of recovery from the pandemic in 2021, owing to the mass COVID-19 vaccination drives carried out and the lifting of lockdown measures. This led to the reopening of offline distribution channels like retail stores. Despite this, consumer preferences for online purchases have been increasing significantly in the region. Thus, it is anticipated the market in focus will experience positive growth during the forecast period.
The E-commerce market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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E-Commerce Market Scope |
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Report Coverage |
Details |
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Page number |
174 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 27.15% |
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Market growth 2023-2027 |
USD 12,951.56 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
26.6 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 48% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Alibaba Group Holding Ltd, Amazon.com Inc., Apple Inc., Best Buy Co. Inc., Costco Wholesale Corp., Ebates Performance Marketing Inc., eBay Inc., Flipkart Internet Pvt. Ltd., Groupon Inc., Inter IKEA Systems B.V., JD.com Inc., Lojas Americanas S.A., Otto GmbH & Co. KG, priceline.com LLC, Shopify Inc., The Home Depot Inc., Walmart Inc., Wayfair Inc., Zalando SE, and Etsy Inc. |
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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, Market condition analysis for forecast period. |
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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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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