Global E-Commerce Market Set For 12.0% Growth, Reaching $6656.29 Billion By 2028

The Business Research Company's E-Commerce Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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The e-commerce market has expanded rapidly in recent years. It is projected to grow from $3,774.71 billion in 2023 to $4,223.44 billion in 2024, with a compound annual growth rate (CAGR) of 11.9%. The growth in the past period can be attributed to factors such as increased internet penetration, changing consumer behavior, secure payment solutions, the rise of mobile adoption and apps, as well as globalization and cross-border trade.

How Big Is the Global E-Commerce Market Expected to Grow, and What Is Its Annual Growth Rate?
The e-commerce market is expected to experience rapid growth in the coming years. It is projected to reach $6,656.29 billion by 2028, with a compound annual growth rate (CAGR) of 12.0%. This growth can be attributed to factors such as marketplace diversification, the rise of the subscription economy, advancements in payment solutions, sustainable and ethical consumerism, and the expansion of AR and VR integration. Key trends in the forecast period include the integration of social commerce, the dominance of mobile commerce, personalized shopping experiences, subscription-based models, and omnichannel retailing.

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What Is Driving the Growth of the E-Commerce Market?
The rise in digital payments is expected to drive the growth of the e-commerce market. Digital payments involve financial transactions carried out through digital or online channels, eliminating the need for physical cash. E-commerce platforms utilize electronic payments, which enable paperless financial transactions.
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Which Leading Companies Are Driving The Growth Of The E-Commerce Market Share?
Major companies operating in the 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.

What Are The Key Trends Driving The Growth Of The E-Commerce Market Size?
Leading companies in the e-commerce industry are developing new technologies, such as Amazon Aurora Serverless v2, to boost their profitability. Amazon Aurora Serverless v2 is a flexible configuration for Amazon Aurora, providing on-demand, automatic scaling of database resources based on user-defined minimum and maximum capacity settings.

How Is the Global E-Commerce Market 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

North America: The Leading Region in the E-Commerce Market
North America was the largest region in the e-commerce market in 2023. Asia-Pacific was the second largest region in the e-commerce global market share. The regions covered in the e-commerce global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

What Is the E-Commerce Market?
The e-commerce market involves the sale of goods such as apparel, electronics, furniture, books, cosmetics, and other products through online platforms. This industry includes both e-commerce and m-commerce companies that provide home delivery services. Sales transactions between retailers and customers are typically conducted using information technology, such as telephones and the Internet, with product delivery usually handled via mail or courier services. The e-commerce sector also encompasses direct mailers who sell their products and retail goods through online websites.

The E-Commerce Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global E-Commerce Market Report: Trends, Opportunities, Strategies, and More
The E-Commerce Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into e-commerce market size, e-commerce global market drivers and trends, e-commerce global market major players, e-commerce competitors' revenues, e-commerce global market positioning, and e-commerce market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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