Latest Report Forecasts Digital Commerce Market to Reach New Heights Till 2030

According to the report published by Allied Market Research, the global digital commerce market was estimated at $4.21 trillion in 2020 and is anticipated to hit $17.53 trillion by 2030, registering a CAGR of 15.1% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.

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Digital commerce, also known as e-commerce, refers to the buying and selling of goods, services, or information over the internet or other electronic networks. It encompasses a wide range of activities, including online retailing, electronic payments, online auctions, digital marketing, and supply chain management. Digital commerce allows businesses to reach a global audience, operate 24/7, and streamline transactions through digital channels, offering convenience and flexibility to both consumers and businesses alike.

Growing penetration of the Internet and smartphones, increasing usage of social media and social commerce, advancement of multiple payment modes drive the growth of the global digital commerce market. On the other hand, online frauds and several cyber security issues restrain the growth to some extent. However, digital commerce automation and the expansion of cross-border e-commerce are expected to create lucrative opportunities in the industry.

The global digital commerce market is analyzed across components, browsing methods, payment modes, business types, industry verticals, and region.

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By Components: Digital commerce encompasses several components, including e-commerce platforms, online marketplaces, mobile commerce (m-commerce) applications, digital payment gateways, and various supporting technologies such as customer relationship management (CRM) systems and inventory management software.

By Browsing Methods: This refers to the ways consumers browse and access digital commerce platforms. It includes desktop browsing, mobile browsing (via smartphones and tablets), and emerging methods like voice commerce (using virtual assistants) and augmented reality (AR) shopping experiences. The mobile/table segment held the highest market share in 2020, holding more than nearly three-fifths of the global market. is also projected to manifest the fastest CAGR of 16.5% from 2021 to 2030.

By Payment Modes: Examining the various payment methods used in digital commerce is crucial. This involves traditional methods like credit/debit cards, bank transfers, and cash on delivery, as well as newer methods such as digital wallets (e.g., PayPal, Apple Pay, Google Pay), cryptocurrency, and buy-now-pay-later (BNPL) services. The same segment accounts for around two-fifths half of the global digital commerce market, and is expected to lead the trail during the forecast period.is also anticipated to cite the fastest CAGR of 17.4% from 2021 to 2030.

By Business Types: Digital commerce involves diverse business models, including business-to-consumer (B2C), business-to-business (B2B), consumer-to-consumer (C2C) marketplaces, and newer models like direct-to-consumer (DTC) brands and subscription-based services.

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By Industry Verticals: Different industries participate in digital commerce, each with its unique characteristics and challenges. These verticals can include retail, fashion and apparel, electronics, healthcare, automotive, travel and hospitality, and more.

By Regions: The digital commerce market is analyzed across various regions globally, taking into account factors such as regional economic conditions, technological infrastructure, regulatory environment, and cultural preferences. Major regions include North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. However, North America held the highest market share in terms of revenue in 2020, garnering more than two-fifths of the global digital commerce market.

COVID-19 scenario-

• Huge supply chain disruptions, especially during the initial phase of the pandemic, augmented the demand for digital commerce.

• At the same time, demand for online shopping also increased significantly, which made the food & beverage, manufacturing, and logistics companies spike up their investments in automation, including the automation of supply chains. This factor impacted the global digital commerce market positively.

• This trend is quite likely to continue post-pandemic as well.

The key market players analyzed in the global digital commerce industry report include Best Buy, Amazon.com, Inc., JD.com, Inc., Otto GmbH & Co, Rakuten, Inc., Walmart, Inc., The Home Depot, Alibaba Group Holding Limited, Shopify, Inc., and eBay, Inc. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.

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