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Cross-Border B2C E-Commerce Market: Global Industry to Reach USD 4,820 Billion by 2026
According to the Facts and Factors, Research Report, the global Cross-Border B2C E-Commerce market in 2019 was approximately USD 780 Billion. The market is expected to grow at a CAGR of 27% and is anticipated to reach around USD 4,820 Billion by 2026.Cross-border e-commerce is international online trade. It involves purchasing and selling of products through online shops across international as well as national borders. The trade is between a business or retailer or brand and customer. There are several categories of cross-border e-commerce such as entertainment & education, apparel & accessories, consumer electronics, home furnishing, personal care & beauty, healthcare & nutrition, footwear, and food & beverage. The payment method for cross-border e-commerce involves digital wallets, credit/debit cards, and internet banking. Cross-border e-commerce is utilized by adults, teenagers/millennial or by senior citizens.
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Globalization has enhanced the volume and variety of cross-border transactions in services as well as products through rapid and widespread diffusion of technology. This is has been driving the global cross-border B2C e-commerce market. In addition, advanced e-commerce technologies subtract marketing costs as well as administration expenditures. This enables companies to reach dispersed markets. This has propelled the target market as well. However, customer data belongs to the marketplace which may prove as a restraining factor over the forecast period. Nevertheless, fast-paced internet technologies are extending the international business market. This is anticipated to create lucrative growth opportunities over the forecast period.
On the basis of category, the cross-border B2C e-commerce market includes entertainment & education, apparel & accessories, consumer electronics, home furnishing, personal care & beauty, healthcare & nutrition, footwear, food & beverage, and others. The apparel & accessories are likely to hold the highest market share over the forecast period due to the maximum usage of cross-border B2C e-commerce in terms of apparel & accessories.
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By payment method, the market includes digital wallets, credit/debit cards, internet banking, and others. The digital wallets category is predicted to hold the highest share as this payment method is utilized most.
By offering, the market includes in-house brands and assorted brands. The assorted brands category is likely to hold the largest market share as these brands hold maximum demand.
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Based on end-user, the market is classified into adults, teenagers/millennials, senior citizens, and others. The adults segment is expected to hold the highest market share owing to the utilization of cross-border B2C e-commerce mostly by adults.
In terms of region, the target market is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these regions, Europe is anticipated to be the dominating region over the forecast period due to the increasing number of online buyers. The United Kingdom is projected to make prominent contributions to the target market in Europe over the forecast period.
Some of the key players operating in the target market are AirBridgeCargo Airlines, eBay,AliExpress.com, ASOS, ACES,BigCommerce, Jagged Peak, Amazon.com, Pitney Bowes, Tmall, Eunimart Multichannel, JD.com, Vipshop, and Zalando.
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