NEW
YORK, July 15, 2024 /PRNewswire/ -- The global
E-commerce market size is estimated to grow by USD 12.95 billion from 2023-2027, according to
Technavio. The market is estimated to grow at a CAGR of
almost 27.15% during the forecast period. Advantages of
E-commerce platforms is driving market growth, with a
trend towards enhancement of consumer experience through
technologies. However, regulatory issues poses a
challenge. Key market players include Alibaba Group Holding Ltd,
Amazon.com Inc., Apple Inc., Best Buy Co. Inc., Costco Wholesale
Corp., Ebates Performance Marketing Inc., eBay Inc., Flipkart
Internet Pvt. Ltd., Groupon Inc., Inter IKEA Systems B.V., JD.com
Inc., Lojas Americanas S.A., Otto GmbH and Co. KG, priceline.com
LLC, Shopify Inc., The Home Depot Inc., Walmart Inc., Wayfair Inc.,
Zalando SE, and Etsy Inc..
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Forecast
period
|
2023-2027
|
Base Year
|
2022
|
Historic
Data
|
2017 - 2021
|
Segment
Covered
|
Application (Home
appliances, Fashion products, Groceries, Books, and Others), Type
(B2B and B2C), and Geography (APAC, North America, Europe, South
America, and Middle East and Africa)
|
Region
Covered
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
Alibaba Group Holding
Ltd, Amazon.com Inc., Apple Inc., Best Buy Co. Inc., Costco
Wholesale Corp., Ebates Performance Marketing Inc., eBay Inc.,
Flipkart Internet Pvt. Ltd., Groupon Inc., Inter IKEA Systems B.V.,
JD.com Inc., Lojas Americanas S.A., Otto GmbH and Co. KG,
priceline.com LLC, Shopify Inc., The Home Depot Inc., Walmart Inc.,
Wayfair Inc., Zalando SE, and Etsy Inc.
|
Key Market Trends Fueling Growth
E-commerce market growth is driven by technological advancements
in various sectors, including home decor. Vendors integrate
technologies like augmented reality (AR) and virtual reality (VR)
to enhance customer experience. In May
2019, IKEA launched a VR app, enabling users to input room
dimensions and virtually try home decor products. The app displays
different colors, textures, and similar items, aiding customers in
making informed decisions. Once satisfied, they can order products
directly through the app. Such innovations will continue fueling
the global e-commerce market expansion.
The E-Commerce Market is booming, driven by the increasing
smartphone-using population and rising internet penetration.
Digital content in travel and leisure, financial services, and
other sectors is attracting more consumers to shop online.
E-tailing is becoming the norm, with established organizations and
large enterprises adopting the marketplace model and direct models
to reach an internet-connected client base. Technological awareness
and user experience are key factors in online purchasing. The
adoption of smartphones and 5G Wi-Fi is making browsing and online
marketing tools like Google ads and Facebook ads more effective.
Operational costs, inventory costs, and payment gateways through
banks and retailers are crucial considerations. Vertical
marketplaces and specialized marketplaces cater to specific
consumer needs. Major e-commerce players are investing in
communication, infrastructure, and social media applications to
expand their reach. The middle-class population is embracing online
shopping, making it a significant trend in the E-Commerce
Market.
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Market Challenges
- The global e-commerce market faces regulatory challenges,
including inconsistent laws and taxation policies. For instance,
developed countries like the US grapple with the application of
central and state taxes on e-commerce transactions. This
inconsistency in regulations is more pronounced in less-developed
countries. Furthermore, governments in various nations
differentiate between domestic and international e-commerce
websites to promote local employment and business opportunities.
Consequently, international e-commerce companies must incorporate
locally to access regional benefits. Additionally, legal
limitations vary by country, with specific rules governing the sale
of items such as food, weapons, alcohol, and antiques. Failure to
comply with these requirements can put e-commerce businesses at
risk.
- The E-Commerce Market is witnessing significant growth due to
the rising internet penetration and increasing online purchasing by
the middle-class population. However, several challenges persist.
Communication with customers can be difficult, requiring effective
use of online marketing tools like Google ads and Facebook ads, as
well as social media applications. Infrastructure, including
technical infrastructure and payment gateways, must be robust to
ensure a seamless customer experience. Operational and inventory
costs are major concerns for retailers, especially for vertical and
specialized marketplaces. Major e-commerce players like Alibaba and
Bharat Craft are investing in infrastructure and operational
efficiency. Online retail is increasingly moving towards branded
shopping apps, social media, and even the metaverse, utilizing
technologies like augmented reality and virtual reality. Payment
gateways and banks play a crucial role, ensuring secure
transactions. Social media is a powerful marketing tool, but
operational costs and consumer tastes can be unpredictable.
Retailers must navigate the marketplace model, direct model, and
the role of government initiatives like GeM and MSMEs. The
challenges are numerous, but the potential rewards are
immense.
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challenges - Download a Sample Report
Segment Overview
This e-commerce market report extensively covers market
segmentation by
- Application
- 1.1 Home appliances
- 1.2 Fashion products
- 1.3 Groceries
- 1.4 Books
- 1.5 Others
- Type
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Home appliances- The home appliances segment
in the e-commerce market encompasses consumer electronics,
houseware, and kitchen appliances. This segment is matured and has
experienced a decelerating growth rate in recent years. A major
challenge for this segment is the absence of a comprehensive
logistics platform for online home appliance delivery. In
developing countries, logistical hurdles pose significant issues.
Despite these challenges, the home appliances segment is projected
to remain the largest revenue generator in the global e-commerce
market due to the rising living standards worldwide. Two primary
reasons for the segment's high revenue are the growing credibility
of e-commerce brands and the consumer trend towards upgrading
homes. Additionally, recycling initiatives have contributed to the
decrease in consumer-generated electronic waste, making the segment
more sustainable. However, many consumers still prefer purchasing
home appliances from brick-and-mortar stores to examine them
physically. To cater to this preference, online retailers are
establishing showrooms, offering multichannel shopping experiences.
These showrooms allow consumers to test products and ask questions
before buying, bridging the gap between online and offline
shopping
For more information on market segmentation with
geographical analysis including forecast (2023-2027) and historic
data (2017 - 2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global digital shipment market is experiencing significant
growth driven by the rise in e-commerce, advanced tracking
technologies, and the demand for faster delivery services. Key
players are focusing on integrating AI and IoT for efficient
logistics solutions. In Kuwait,
the e-commerce market is booming, fueled by high internet
penetration and a tech-savvy population. Major players like Amazon
and local startups are expanding their presence, offering diverse
product ranges and competitive delivery options, making
Kuwait a growing hub for online
shopping in the Middle East.
Research Analysis
The e-commerce market is experiencing explosive growth, fueled
by the smartphone-using population's increasing adoption. With the
proliferation of digital content, industries such as travel and
leisure, financial services, and e-tailing are seeing significant
shifts towards online platforms. Technological awareness and
connectivity have become essential, driving the user experience to
new heights. The rise of online shopping has been meteoric, with
consumer wealth playing a crucial role in its expansion.
Established organizations and large enterprises are embracing
e-commerce, leveraging online marketing tools like Google ads and
Facebook ads, and social media applications to reach customers.
Buying and selling goods and services have become more accessible
than ever before, leading to operational costs and inventory costs
being reevaluated. Vertical marketplaces and specialized
marketplaces cater to niche industries, providing unique offerings
and competition. The e-commerce landscape is constantly evolving,
requiring businesses to stay informed and adapt to the changing
market.
Market Research Overview
The E-Commerce Market is experiencing exponential growth,
fueled by the smartphone-using population and their increasing
digital content consumption. Travel and leisure, financial
services, and various industries are embracing e-tailing, driven by
technological awareness and the adoption of smartphones. The user
experience is paramount, with connectivity and online marketing
tools like Google ads and Facebook ads playing crucial roles.
Established organizations and large enterprises communicate with
their customer base through various channels, including social
media applications. Operational costs, inventory costs, and payment
gateways are essential considerations for retailers. Vertical
marketplaces and specialized marketplaces cater to niche segments,
while the marketplace model and direct model offer different
approaches. The middle-class population's growing wealth and online
purchasing power are significant factors. Infrastructure, rising
internet penetration, and consumer tastes continue to shape the
e-commerce landscape. Mobile, online retail, branded shopping apps,
5G Wi-Fi, social shopping, customer experience, augmented reality,
virtual reality, and the metaverse are shaping the future of online
business. Bharat Craft, Alibaba, MSMEs, and GeM are key players in
this dynamic market.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Home Appliances
- Fashion Products
- Groceries
- Books
- Others
- Type
-
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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