India E-Commerce Market 2024: A Valuation of USD 259.0 Billion Predicted by 2032

India E-Commerce Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 29.3% (2024-2032)

Market Size in 2023: USD 92.7 Billion

Market Size in 2032: USD 259.0 Billion

The India e-commerce market is rapidly growing, driven by increased internet penetration, mobile usage, and digital payments. According to the latest report by IMARC Group, the market size reached USD 92.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 259.0 Billion by 2032, exhibiting a growth rate (CAGR) of 29.3% during 2024-2032.

India E-Commerce Market Trends and Drivers:

A combination of factors such as high internet penetration, a burgeoning middle class, as well as the shift towards digital shopping are responsible for the growth of the India e-commerce market. Additionally, India is one of the largest online markets globally, and this number continues to rise as affordable smartphones and data plans become more accessible, with over 700 million internet users.

This shift has led to the rise of e-commerce giants like Flipkart and Amazon and a growing number of niche players catering to specific customer segments. The convenience of home delivery, coupled with the ability to compare products along with prices, has made e-commerce the preferred shopping choice for many consumers. Moreover, the growing preference for contactless payments and the increasing trust in online transactions have further fueled the expansion of the market.

The rapid growth of digital payments, government initiatives like the Digital India campaign, and the rise of social commerce are augmenting the India e-commerce market. Digital payment solutions such as UPI, mobile wallets, and cash-on-delivery options have made transactions smoother and more secure, encouraging consumers to shop online. Furthermore, the push by government authorities towards enhancing the digital infrastructure and logistics and the launch of policies supporting online businesses are providing a conducive environment for e-commerce growth.

Another emerging trend is the rise of "hyperlocal" e-commerce models, where businesses focus on local deliveries, offering a faster and more personalized shopping experience. The increased utilization of artificial intelligence and machine learning to offer personalized shopping experiences and optimize supply chains is anticipated to drive the India e-commerce market in the coming years.

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India E-Commerce Market Industry 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 Business (B2B)
• Business to Consumer (B2C)
• Consumer to Consumer (C2C)
• Others

Breakup by Payment Mode:

• Cash Payment
• Bank Transfer
• Card Payment
• Digital Wallet
• Others

Breakup by Region:

• North India
• West and Central India
• South India
• East India

Competitive Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

Ask Analyst for Customization: https://www.imarcgroup.com/request?type=report&id=5798&flag=C

Key highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.

IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us:

IMARC Group

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Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

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This release was published on openPR.