E-Commerce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

E-Commerce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global e-commerce market size reached US$ 16.6 Trillion in 2022. Looking forward, IMARC Group expects the market to reach US$ 70.9 Trillion by 2028, exhibiting a growth rate (CAGR) of 27.43% during 2023-2028.

E-commerce, or electronic commerce, refers to the commercial transactions that are conducted electronically through the internet. It involves buying and selling consumer products, marketplace services and customer support, along with other activities, such as online auctions, payment gateways, online ticketing and internet banking. E-commerce is usually classified based on numerous business models, which include Business to Business (B2B), Business to Customer (B2C), Customer to Business (C2B) and Customer to Customer (C2C). It offers various benefits to the seller, such as a global reach, minimal transaction costs, higher margins of profit, direct communication between the parties involved and quick delivery of goods and services.

Rapid urbanization across the globe is one of the key factors driving the growth of the market. Furthermore, increasing internet penetration and usage of devices, such as smartphones, laptops and tablets to access e-commerce portals, is also providing a boost to the market growth. E-commerce enables organizations to conduct business without maintaining a physical presence, thereby minimizing the infrastructure, communication and overhead costs. The market is further driven by the increasing preference for online shopping, especially among women, and the growing influence of social networking platforms on shopping habits. Online retail channels provide a hassle-free shopping experience to the consumers while displaying a wide variety of products to choose from, at affordable price-points. Additionally, the advent of private-label and direct to consumer-based business models is also creating a positive outlook for the market growth. This enables the organizations to collect and use consumer data and provide personalized products and experiences to the consumer. The spread of the coronavirus disease (COVID-19) has provided a further push to e-commerce activities as customers shift toward online platforms for ordering essential items amid lockdown and social distancing measures.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global e-commerce market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and transaction.

Breakup by Type:

Home Appliances
Apparel, Footwear and Accessories
Books
Cosmetics
Groceries
Others

Breakup by Transaction:

Business-to-Consumer
Business-to-Business
Consumer-to-Consumer
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the top e-commerce companies being Alibaba Group Holding Limited, Amazon.com Inc., Apple Inc., B2W Companhia Digital (Lojas Americanas S/A), Ebay Inc., Groupon Inc., Rakuten, Walmart Inc., Zalando SE, etc.

Key Questions Answered in This Report
1. How big is the global e-commerce market in 2022?
2. What is the expected growth rate of the global e-commerce market during 2023-2028?
3. What are the key factors driving the global e-commerce market?
4. What has been the impact of COVID-19 on the global e-commerce market?
5. What is the breakup of the global e-commerce market based on the type?
6. What is the breakup of the global e-commerce market based on the transaction?
7. What are the key regions in the global e-commerce market?
8. Who are the key players/companies in the global e-commerce market?