Press release
E-commerce- a Market Worth Observing Growth in India: Thomas Cook, Flipkart, Jasper Infotech
E-commerce Market
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Increased adoption of smartphones and access to the Internet, along with streamlined logistics infrastructure are the key factors driving the growth of the e-commerce market in India. The market is forecasted to expand at a compound annual growth rate (CAGR) of 18.15% to reach a value of INR 10,494.38 Bn by 2024, from INR 3,550.70 Bn in 2018. The Indian government is proactively embracing and leveraging e-commerce digital platforms to transform and organize traditional offline markets through the Digital India initiative.
Competitive insights:
E-commerce companies are incorporating various technologies like voice recognition, virtual and augmented reality (VR & AR), Fintech, artificial intelligence (AI) and machine learning (ML) to attract customers and compete with other players. Companies like Amazon, Flipkart, Goibibo, Ola, Zomato and Ixigo have incorporated voice assistants for assisting customers with their queries, thereby improving customers’ satisfaction. E-commerce companies are also integrating Fintech-based payment platforms like PayPal, Apple Pay, Google Pay and Amazon Pay to offer secure and efficient online payment methods to consumers.
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Market segment insights:
Based on product categories, the Indian e-commerce market can be segmented into online travel, online retail, online financial services, online matrimony and classified, and other online services segments.
The online travel segment held the highest market share in 2019. Improved air and rail connectivity, coupled with growing number of Internet users in tier II and tier III cities has boosted the online travel market. Moreover, government initiatives to promote tourism such as Athiti Devo Bhava and Incredible India have attracted international travelers in India, which has had a positive impact on market growth. Companies including MakeMyTrip, Goibibo, IRCTC, Clear trip and Yatra.com are leading the players in the online travel market in India.
By 2024, the online retail market is expected to dominate the e-commerce market in India and reach a value of INR 4289.64 Bn, expanding at a CAGR of 20.22%. In this segment, demand for electronics products was the highest, followed by apparels and home furnishing products, in 2018. Deep discounts offered by e-retailers in the form of cashback offers, and buyback schemes have driven the market for online retail in India. Moreover, growing appetite for international brands, especially for apparels, has also positively affected market growth. In the online retail space, companies such as Amazon, Flipkart and Snapdeal are the major players.
The online financial services market in India is expected to be the fastest growing segment, expanding at a CAGR of 33.55% during the forecast period. An increase in the number of mobile wallet and digital transactions, coupled with the proliferation of high-speed Internet has propelled the adoption of online financial services among consumers, thereby fueling market growth. Furthermore, lucrative discounts, free coupons and cashbacks offered by companies like Paytm, Google Pay, Mobikwik and PhonePe have attracted more consumers to use digital financial services during payment for bills like telephone, and electricity.
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Key Answers Captured in Study are
Which geography would have better demand for product/services?
What strategies of big players help them acquire share in regional market?
Countries that may see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
How feasible is market for long term investment?
What opportunity the country would offer for existing and new players in the E-commerce Market in 2019 market?
Risk side analysis involved with suppliers in specific geography?
What influencing factors driving the demand of E-commerce Market in 2019 near future?
What is the impact analysis of various factors in the E-commerce Market in India 2019 market growth?
What are the recent trends in the regional market and how successful they are?
Read Detailed Index of full Research Study at @ https://www.htfmarketreport.com/reports/2577601-e-commerce-market-in-india-2019
Some extract from Table of Contents
• Overview of E-commerce Market in India 2019 Market
• E-commerce Market in 2019 Size (Sales Volume) Comparison by Type (2019-2025)
• E-commerce Market in 2019 Size (Consumption) and Market Share Comparison by Application (2019-2025)
• E-commerce Market in 2019 Size (Value) Comparison by Region (2019-2025)
• E-commerce Market in 2019 Sales, Revenue and Growth Rate (2019-2025)
• E-commerce Market in 2019 Competitive Situation and Trends
• Players/Suppliers High Performance Pigments Manufacturing Base Distribution, Sales Area, Product Type
• Analyze competitors, including all important parameters of E-commerce Market in 2019
• E-commerce Market in India 2019 Manufacturing Cost Analysis
• Marketing Strategy Analysis, Research Conclusions
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HTF Market Report is a wholly owned brand of HTF market Intelligence Consulting Private Limited. HTF Market Report global research and market intelligence consulting organization is uniquely positioned to not only identify growth opportunities but to also empower and inspire you to create visionary growth strategies for futures, enabled by our extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist you for making goals into a reality. Our understanding of the interplay between industry convergence, Mega Trends, technologies and market trends provides our clients with new business models and expansion opportunities. We are focused on identifying the “Accurate Forecast” in every industry we cover so our clients can reap the benefits of being early market entrants and can accomplish their “Goals & Objectives”.
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