PUBLISHER: Juniper Research Ltd | PRODUCT CODE: 1354822
PUBLISHER: Juniper Research Ltd | PRODUCT CODE: 1354822
Juniper Research's “Digital Commerce Market” research suite provides detailed analysis of this rapidly growing market. The report assesses the trends and challenges within the sector; analysing the state of the digital banking, eCommerce, digital ticketing, money transfer and proximity payments (including QR code payments and contactless payments) market segments in depth. Key trends include how eCommerce platforms are trying to improve customer experiences, enhancing the online shopping experience through leveraging trends like social commerce to boost retail sales, and using new ways of connecting to users for customer engagement.
The research also provides industry benchmark forecasts for the market, split by the following segments, as well as by our 8 key regions and 60 countries:
This research suite includes:
Total Digital Commerce Spend in 2023: | $14.8tn |
Total Digital Commerce Spend in 2028: | $26.2tn |
Growth in Spend between 2023 and 2028: | 77.5% |
Mentioned: Alibaba, AliPay, Amazon, American Airlines, Apple, Branch, British Airways, Cash App, Denso Wave, EasyJet, Google, Instagram, Klarna, Mastercard, Meta, M-Shwari, PayPal, Paytm, PhonePe, Pix, Tala, Tarabut Gateway, Venmo, Visa, WeChat, World Bank, X, Zettle.
Juniper Research's Digital Commerce forecast suite includes:
Comprehensive 5-year forecasts are provided in the “Digital Commerce Market” research suite; enabling readers with a comprehensive understanding of the growth in this emerging market. The forecast suite boasts a wide range of metrics, including the following:
These numbers are split by both mobile and online usage, as well as by the following segment splits:
Number of tables: 65 tables
Number of datapoints: Over 29,500 datapoints
harvest: Our online data platform, harvest, contains the very latest market data and is updated throughout the year. This is a fully featured platform; enabling clients to better understand key data trends and manipulate charts and tables; overlaying different forecasts within the one chart - using the comparison tool. Empower your business with our market intelligence centre, and receive alerts whenever your data is updated.
Interactive Excels (IFxl): Our IFxl tool enables clients to manipulate both forecast data and charts, within an Excel environment, to test their own assumptions using the interactive scenario tool and compare selected markets side by side in customised charts and tables. IFxls greatly increase a client's ability to both understand a particular market and to integrate their own views into the model.
By 2024, digital commerce transaction volumes will reach 1.08 trillion globally; rising from 966 billion this year - a very strong 12% growth in a single year.
The strongest growth will be in three markets, driving overall digital commerce adoption. These markets are:
NFC payments are surging, boosted by increasing contactless acceptance, particularly within transit. The move to open-loop payment systems within ticketing has had an important network effect; boosting awareness of contactless payments among potential users and increasing usage within markets that previously lagged behind, such as the US and Germany.
The shift towards open-loop payments within ticketing has now begun to reach more remote areas, becoming the default payment method in many markets. We anticipate this momentum to boost contactless payments overall, and also increase open-loop adoption in other areas, such as for EV charging.
With the rising cost of living reducing disposable income, digital commerce vendors need to differentiate themselves to maintain growth. As such, vendors in highly competitive markets, such as money transfer, must focus on reducing the cost of payments as the key differentiator in the current climate.