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E-Commerce Global Market to Grow $6656.29 Billion at a Surprising CAGR of 12.0% By 2028 | Walmart Inc., Amazon.com Inc., Apple Inc., Google LLC, Wayfair LLC
E-Commerce Market
As per the report, the e-commerce market size has grown rapidly in recent years. It will grow from $3774.71 billion in 2023 to $4223.44 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The e-commerce market size is expected to see rapid growth in the next few years. It will grow to $6656.29 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%.
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Surging Internet Penetration And Smartphone Adoption Fueling Explosive Growth In The E-Commerce Sector
Rising internet penetration and the growing use of smartphones are predicted to contribute to the growth of the e-commerce market. The growing usage of the internet and smartphones is shifting consumer preferences towards online shopping. For instance, in February 2023, according to Uswitch Limited, a UK-based price comparison and switching service company, there were 71.8 million mobile connections in the UK, a 3.8% (or around 2.6 million) increase over 2021. Moreover, 95% of the 68.3 million UK population, which is 65 million individuals, are expected to own a smartphone by 2025.
Government And Corporate Initiatives Drive E-Commerce Expansion With Ondc Pilot Launch In India
Increasing government and companies' initiatives to promote e-commerce sales is a leading trend in the e-commerce market. According to Entracker's news published in April 2022, Indian government launched pilot phase of Open network for digital commerce (ONDC) to democratize e-commerce sector to facilitate e-commerce of small retailers, which is projected to boost the sector's growth in the country.
The e-commerce market covered in this report is segmented -
1) By Model Type: Business to Business (B2B), Business to Consumer (B2C)
2) By Payment Mode: Card Payments, Bank Transfers, Digital Wallets, Cash Payments, Other Payment Modes
3) By Application: Home Appliances, Clothing and footwear, Books, Cosmetics, Baby Goods, Groceries, Other Applications
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Major companies operating in the e-commerce market report are Walmart Inc., Amazon.com Inc., Apple Inc., Google LLC, JD.com Inc., Target Brands Inc., Dell Technologies Inc., PayPal Holdings Inc., Macy's Inc., Pinduoduo Inc., Vipshop Holdings Ltd., Carvana Co., Wayfair LLC, Zalando SE, MercadoLibre Inc., Suning Commerce Group Co. Ltd., eBay Inc., Chewy Inc., Flipkart Private Limited, Shopify Inc., Etsy Inc., Best Buy Canada Ltd., Gome Electrical Appliances Holding Ltd., Farfetch Limited, Otto Group, Myntra Fashion Technologies Private Limited, BigCommerce Pty. Ltd., Lenskart Solutions Private Limited, Alibaba Group, Snapdeal Limited, VTEX Commerce, Magento Commerce Inc., PrestaShop S.A., Big Cartel LLC, Volusion LLC, Squarespace Inc., Weebly Inc., Shift4Shop Inc., Miva Inc.
Contents of the report:
1. Executive Summary
2. E-Commerce Market Report Structure
3. E-Commerce Market Trends And Strategies
4. E-Commerce Market - Macro Economic Scenario
5. E-Commerce Market Size And Growth
…..
27. E-Commerce Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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