PUBLISHER: Allied Market Research | PRODUCT CODE: 1344504
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344504
According to a new report published by Allied Market Research, titled, "E-commerce Market," The e-commerce market was valued at $15.7 trillion in 2022, and is estimated to reach $63800.2 billion by 2032, growing at a CAGR of 15.3% from 2023 to 2032.
One of the main drivers of the e-commerce market is the widespread availability and affordability of internet access. As internet penetration continues to increase globally, more individuals have access to online shopping platforms, leading to a larger customer base for e-commerce businesses. Furthermore, with the growth of international shipping and logistics, consumers can access products from around the world. This expansion of cross-border trade has significantly contributed to the growth of the e-commerce market. In addition, influencer marketing, where social media influencers promote products and brands, has proven to be an effective strategy to drive e-commerce growth by leveraging the trust and influence of popular personalities. However, trust and security concerns, logistics and infrastructure challenges are some of the factors that hamper the e-commerce market growth. On the contrary, the advancement of technology, especially in terms of mobile devices and internet connectivity, has played a crucial role in the growth of the e-commerce market. Further, cross-border e-commerce that allows consumers to purchase products from overseas sellers is expected to create lucrative opportunities for the growth of the e-commerce market in the upcoming years. Improvements in logistics, payment systems, and international trade policies are facilitating the growth of cross-border e-commerce. The increasing demand for international products and the rise of platforms such as Alibaba's AliExpress and Amazon Global further contribute to this trend.
The e-commerce market is segmented into model type, offering, and region. By model type, the market is differentiated into business-to-business (B2B) and business-to-consumer (B2C). Depending on offering, it is fragmented into beauty and personal care products, consumer electronics, fashion and apparel, household products, and others. Region wise, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
The e-commerce market analysis includes top companies operating in the market such as Amazon.com, Inc., JD.com, Inc., Flipkart.com, Alibaba Group Holding Limited, Walmart Inc., Shein, Wayfair LLC, eBay Inc., Shopify, and pinduoduo.com. These players have adopted various strategies to increase their market penetration and strengthen their position in the accounting and budgeting software industry.