E-commerce Market, By Model Type (Business to Consumer (B2C), Business to Business (B2B)), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Report Code: PMI509223 | Publish Date: January 2024 | No. of Pages: 170

E Commerce Market Overview

[PDF] E-commerce involves buying and selling goods online and includes affiliate marketing. E-commerce channels such as your website, social media, Amazon, and others are used to drive online sales.

The adoption of digital technologies has had a positive impact on target market growth. The growing trend of online shopping, the surge in smartphone demand, and continuous technological innovation are powering the E-commerce market growth.

Attributes

Details

E-commerce Market Value (2024)

US$ 18.3 trillion

E-commerce Market Projected Value (2034)

US$ 93.6 Trillion

E-commerce Market CAGR (2024 – 2034)

2.5%

E Commerce Market Dynamics

Adoption of Digital Technologies and Growing Trend of Online Shopping

The adoption of digital technologies has become a significant factor in the growth of the E-commerce market. Digital technologies such as the AI (artificial intelligence), Internet of Things (IoT), and machine learning has contributed to target market growth. The high adoption of smartphones and internet use has given rise to online shopping, which, in turn, fueled the demand for E-commerce market growth.

For instance, in December 2022, according to (The Economic Times), Myntra, a fashion retailer, recorded around 1.3 lakh shoppers from non-metros on the first day, with customers from (India) Lucknow, Jaipur, and Patna placing the highest number of orders in terms of value. Marginal increase in online shoppers during the festive season and a growing number of new customers has powered the business growth of the E-commerce platform.

Advancement in Digital Transactions

The adoption of digital technologies has made advancements in digital transactions, which have fueled the E-commerce market growth. Google Pay and PhonePe are examples of digital transactions, also called electronic payments. It includes mobile money, bank transfer, QR codes, and payment instruments such as debit, credit, and prepaid cards. Online revenue has increased continuously, which has boosted the E-commerce market growth.

For instance, in December 2022, The Reserve Bank of India enhanced the mandate for UPI payments in which consent is given to UPI customers to block the money in their bank account and can make multiple debits till the maximum permitted amount instead of a single payment. This UPI payment mechanism is suitable for making payments on e-commerce platforms such as Flipkart, Amazon, hotel booking, stock market, etc.

Restrains:

However, the lack of internet facilities and lack of implementation of technical infrastructure, connectivity issues in isolated and rural areas, and troubleshooting issues restrained the E-commerce market growth.

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E Commerce Market Segmentation

 

E-commerce Market is segmented based on Model Type and Region.

Model Type Insight

On the basis of Model Type, E-commerce Market is segmented into Business to Consumer (B2C), Business to Business (B2B). Business to Business (B2B) model type segment is expected to dominate the target market growth due to growing adoption of companies towards online buying and selling products with growing penetration of smartphones and internet usage.

Regional Insights:

On region the E-commerce Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period. Moreover, growing small, medium, large enterprises, growing adoption of digital technologies, rising adoption of smartphones and internet users, growing development in infrastructure facilities, is anticipated to increase demand for E-commerce in the region.

North America and Europe market is estimated to witness steady growth due to consumer preference towards foreign brands, and awareness about quality of product.

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Report Scope:

Attribute

Details

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Trillion & CAGR from 2024 to 2034

Market Segmentation

By Model Type - Business to Consumer (B2C), Business to Business (B2B)

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the E-commerce Market report based on Model Type and Region:

E-commerce Market, By Model Type:

  • Business to Consumer (B2C)
  • Business to Business (B2B)

E-commerce Market, By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa

E Commerce Market Key Players

The key players operating the E-commerce Market includes, Amazon.com Inc., Apple Inc., Flipkart Private Limited., eBay Inc., JD.com Inc., Alibaba Group Holding Limited., The Home Depot, Best Buy, Walmart Inc., Wayfair Inc., and others.

E Commerce Market Company Profile

  • Amazon.com Inc.*
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Apple Inc.
  • Flipkart Private Limited
  • eBay Inc.
  • JD.com Inc.
  • Alibaba Group Holding Limited
  • The Home Depot
  • Best Buy
  • Walmart Inc.
  • Wayfair Inc.

 

“*” marked represents similar segmentation in other categories in the respective section

Recent Development:

  • In January 2023, Bacardi launched e-commerce platform and partnered with Isak Fragrances a premium leather products brand, Jaipur Watch Company and The Postbox. Bacardi has launched the platform for made-in-India brands.
  • In April 2023, Walmart Inc., digital payment firm PhonePe Pvt. Ltd., launched a new app “Pincode” on Indian Government’s open network to strengthen the business of e-commerce. This app includes, home décor, food, fashion, groceries, electronics and pharma product.
  • In February 2023, Amazon Inc., joined Indian e-commerce platform to democratize online shopping in South Asian market and to challenge American retail group. Amazon’s participation is remarkable in being a part of ONDC (Open network for Digital Commerce) network.
  • In August 2022, The Indian Government launched new ONDC (Open network for Digital Commerce) created domestically with open-source e-commerce platform. New launched platform aimed to onboard 10 million merchants, 30 million sellers online with covering of hundred towns and cities.

E Commerce Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Preview
    • Executive Summary
    • Key Findings—Global Outlook for medical carts Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Model Type
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restrains
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. E-commerce Market, By Model Type
    • Overview
      • Market Value and Forecast (US$ Tn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • Business to Consumer (B2C)
      • Overview
      • Market Size and Forecast (US$ Tn), and Y-o-Y Growth (%), 2024 – 2034
    • Business to Business (B2B)
      • Overview
      • Market Size and Forecast (US$ Tn), and Y-o-Y Growth (%), 2024 – 2034
  6. E-commerce Market, By Region, 2024 – 2034, (US$ Tn)
    • Overview
      • Market Value and Forecast (US$ Tn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Tn), By Model Type, 2024 – 2034
      • Market Size and Forecast (US$ Tn), By Country, 2024 – 2034
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Tn), By Model Type, 2024 – 2034
      • Market Size and Forecast (US$ Tn), By Country, 2024 – 2034
        • UK
        • France
        • Germany
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Tn), By Model Type, 2024 – 2034
      • Market Size and Forecast (US$ Tn), By Country, 2024 – 2034
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Tn), By Model Type, 2024 – 2034
      • Market Size and Forecast (US$ Tn), By Country, 2024 – 2034
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Tn), By Model Type, 2024 – 2034
      • Market Size and Forecast (US$ Tn), By Country, 2024 – 2034
  1.  
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East
  2. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  3. Company Profiles
  • Amazon.com Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Apple Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Flipkart Private Limited
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • eBay Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • JD.com Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Alibaba Group Holding Limited
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • The Home Depot
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Best Buy
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Walmart Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Wayfair Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  1. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

The E-commerce Market is segmented into Model Type and Region.

E-commerce Market is driven by factors like adoption of digital technologies & growing trend of online shopping and advancement in digital transactions.

By region, the E-commerce market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period.

The key players operating the E-commerce Market includes, Amazon.com Inc., Apple Inc., Flipkart Private Limited, eBay Inc., JD.com Inc., Alibaba Group Holding Limited, The Home Depot, Best Buy, Walmart Inc., Wayfair Inc., and others.

E-commerce Market accounted for US$ 18.3 Trillion in 2024 and is estimated to be US$ 93.6 Trillion by 2034 and is anticipated to register a CAGR of 2.5%.