South Korea Digital Marketplace Market by Platform (Desktop, Mobile, and Tablets), by Model Type (Business to Business (B2B), Business to Consumer (B2C), and Consumer to Consumer (C2C)), and by End Users (Commercial, and Personal)- Opportunity Analysis an

South Korea Digital Marketplace Market by Platform (Desktop, Mobile, and Tablets), by Model Type (Business to Business (B2B), Business to Consumer (B2C), and Consumer to Consumer (C2C)), and by End Users (Commercial, and Personal)- Opportunity Analysis and Industry Forecast, 2024– 2030

The South Korea Digital Marketplace Market size was valued at USD 17.01 billion in 2023, and is predicted to reach USD 34.47 billion by 2030, at a CAGR of 10.5% from 2024 to 2030.

The rise in mobile phone acquisitions in South Korea plays a pivotal role in driving the expansion of the digital marketplaces market. Information from the International Trade Administration reveals a significant uptick in purchases conducted through mobile phones, increasing from USD 134 billion in 2021 to USD 134.3 billion in 2022. Moreover, a report from the Ministry of Science and ICT in 2023 underscores that 99.96% of Korean households had internet connectivity in 2022. This widespread possession of mobile phones and internet access enables effortless integration with diverse e-commerce applications and platforms, facilitating streamlined and convenient shopping experiences for consumers.

However, concerns stemming from cybersecurity threats and consumer trust issues present significant obstacles to the expansion of the market. When consumers perceive online platforms as vulnerable to cyberattacks, they hesitate to share personal information or engage in transactions, fearing privacy breaches or financial harm. This lack of trust lead to reduced usage of digital marketplaces and reluctance to participate in online shopping, thus hindering market growth. Moreover, instances of data breaches or fraudulent activities can damage the reputation of digital marketplaces, discouraging both consumers and businesses from active involvement in the online marketplace environment.

On the contrary, the integration of AR and VR technologies is poised to elevate the expansion of online marketplaces. These cutting-edge advancements allow digital platforms to provide users with immersive and interactive shopping experiences. With AR and VR, consumers can visualize products in real-world contexts, virtually test them before making purchases, and explore dynamic virtual environments. These immersive encounters not only heighten customer engagement and nurture brand loyalty but also lead to increased sales. Moreover, AR and VR equip businesses with the tools to effectively showcase their products by furnishing detailed information and personalized recommendations to users. Consequently, the incorporation of AR and VR technologies presents a promising prospect to revolutionize the future of digital marketplaces, offering innovative and captivating shopping experiences.

Segment Overview

The South Korea Digital Marketplace industry is segmented based on platform, model type, and end users.
Based on platform, the market is segmented into desktop, mobile, and tablets.
Based on model type, the market is divided into Business to Business (B2B), Business to Consumer (B2C), and Consumer to Consumer (C2C).
Based on end users, the market is bifurcated into commercial, and personal.

Key Market Players

Leading players operating in the South Korea Digital Marketplace industry include:
Amazon.com, Inc.
Walmart Inc.
eBay Inc.
Alibaba Group Holding Limited
Rakuten Group Inc.
Sea Limited
MercadoLibre Inc.
JD.com Inc.
Etsy Inc.
Allegro.eu
Kogan.com
SEEK
Carsales
REA Group Ltd.
Airtasker Ltd.

KEY BENEFITS
• The South Korea digital marketplace market report provides a quantitative analysis of the current market and estimations through 2024-2030 that assists in identifying the prevailing market opportunities to capitalize on.
• The study comprises a deep dive analysis of the market trend including the current and future trends for depicting the prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report.
• The competitive analysis of the market players along with their market share in the South Korea digital marketplace market.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.

Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.