E-commerce is the growth of exchanging goods electronically through online marketplaces or the Internet. E-commerce relies on advancements including flexible exchange, electronic resource transfer, creation network leaders, Web marketing, online trade dealing with, electronic data exchange (EDI), stock organisation systems, and automated data collection frameworks.
Dallas, Texas, Oct. 20, 2022 (GLOBE NEWSWIRE) — The rising urbanization of the world is one of the main forces driving the growth of the global e-commerce market. A further factor driving the market is the increase in internet usage and the use of devices like laptops, smartphones, and tablets to access e-commerce platforms. Due to the fact that e-commerce enables companies to function without a physical location, infrastructure, communication, and overhead expenses are reduced. Additional market-driving variables include women’s preference for online shopping and the growing influence of social networking sites on buying behavior. With the introduction of 5G technology, consumers’ purchasing experiences might be improved, and applications across numerous industries could be made more easily. Applications like VR and AR in the e-commerce sector are thought to be supported by the 5G network, which is regarded as a powerful instrument. Thus, it is reasonable to assume that the potential of 5G will further generate considerable synergies that result in the digital revolution in e-commerce in the years to come.
The global e-commerce market was estimated to be around US$16.29 trillion and is anticipated to grow to US$54.08 trillion by 2027.
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Key players operating in the global e-commerce market are:
Alibaba Group Holding Limited
Flipkart Private Limited
The Home Depot
E-commerce, often known as electronic commerce, is the term used to describe internet business transactions. It includes consumer goods purchasing and selling, marketplace services, and customer assistance, in addition to additional activities including online auctions, payment gateways, online tickets, and internet banking. Various business models, such as B2B, B2C, C2B, and C2C, are typically used to categorize e-commerce. E-commerce and mobile commerce businesses that provide home delivery services make up this industry. Retailers and their consumers conduct sales transactions using information technology, such as the telephone and the internet, and goods are often delivered by mail or couriers. Direct mailers who sell their goods and do retail business online are also a part of the e-commerce sector. E-commerce is an online marketplace where buyers and sellers may transact and buy and sell products and services. The online platforms can be accessed using a laptop, computer, or mobile phone over the internet. E-commerce will continue to grow as a result of the growth of mobile and all-pervasive internet, which is inevitable. Online commerce is quickly replacing traditional brick-and-mortar markets.
By model type, the Business to Business (B2B) segment is expanding at the quickest rate, with a CAGR of over 27.01% during the projected period. This is due to the increased influence of technologies like AI, AR, and VR on consumer purchasing behavior.
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The APAC region is the greatest e-commerce market in the world. The Asia Pacific region’s e-commerce industry has experienced tremendous growth in recent years as a result of the region’s expanding middle class, rising levels of disposable income, and more internet access and smartphone ownership. The story of e-commerce up until this point has been one of the regional differences. While there are still disparities between Asian and Western economies in terms of penetration, COVID-19 has led to a sharp increase in e-commerce globally.
For instance, NetEase, Inc., a provider of online e-commerce services, was purchased by Alibaba Group Holding Limited in September 2019. This transaction gave Alibaba Group Holding Limited the opportunity to purchase Kaola, NetEase’s import e-commerce platform, and to obtain a competitive edge in the e-commerce market.
Table of Contents:
2. Research Methodology
3. Market Outlook
4. E-commerce Market By model type, 2019-2029 (USD Trillion)
5. E-commerce market by region, 2019-2029 (USD Trillion)
5.1. North America
5.2.4. Rest of Europe
5.3. Asia Pacific
5.3.4. Rest of Asia Pacific
5.4. South America
5.4.3. Rest of South America
5.5. Middle East & Africa
6. Competitive Landscape
7. Company Profiles
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