E-Commerce Market 2023, Growth, Outlook, Key player Analysis and Forecast by 2028

The latest report by IMARC Group, titled "E-Commerce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028". The global e-commerce market size reached US$ 16.6 Trillion in 2022. Looking forward, IMARC Group expects the market to reach US$ 70.9 Trillion by 2028, exhibiting a growth rate (CAGR) of 27.43% during 2023-2028.

E-commerce, or electronic commerce, navigates to the buying and selling of goods and services over the Internet. It is transforming the way businesses operate and consumers shop. In an e-commerce transaction, customers can compare prices, browse products, and buy from the comfort of their own homes, leading to a significant shift in consumer behavior. It includes various models, including business-to-consumer (B2C), where businesses sell directly to individuals, and business-to-business (B2B), involving company transactions. Additionally, some other variations include consumer-to-consumer (C2C) and consumer-to-business (C2B). The rise of e-commerce encourages businesses to establish online stores, digital payment gateways, and secure platforms to facilitate transactions.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/e-commerce-market/requestsample

E-Commerce Market Trends and Drivers:

The e-commerce market is primarily driven by the increasing digital payment methods, from credit cards to wallets and cryptocurrency. The several range of payment options caters to a wide customer base, including those without traditional banking access. Along with this, the proliferation of smartphones and mobile devices is significantly contributing to the e-commerce market. Mobile apps and responsive websites offer seamless shopping experiences, enabling customers to shop on the go, whether commuting, waiting, or relaxing. Moreover, several advances in online security measures are enhancing consumer confidence in online transactions with secure payment gateways and encryption technologies to safeguard sensitive financial information, addressing concerns about online fraud and identity theft, representing another major growth-inducing factor. Besides this, the integration of advanced data analytics and machine learning (ML) algorithms enables e-commerce businesses to track and analyze consumer behavior, preferences, and purchase history, allowing personalized recommendations and targeted marketing to enhance the shopping experience, thus propelling market growth.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

Home Appliances
Apparel, Footwear and Accessories
Books
Cosmetics
Groceries
Others

Breakup by Transaction:

Business-to-Consumer
Business-to-Business
Consumer-to-Consumer
Others

Breakup by Region:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Competitive Landscape With Key Players:

Alibaba Group Holding Limited
Amazon.com Inc.
Apple Inc.
B2W Companhia Digital (Lojas Americanas S/A)
Ebay Inc.
Groupon Inc.
Rakuten Group, Inc.
Walmart Inc.
Zalando SE

Explore Full Report with TOC: https://www.imarcgroup.com/e-commerce-market

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This release was published on openPR.