E-Commerce Market Size, Share, Growth, And Industry Analysis, By Type (Buyer-oriented E-commerce, Supplier-oriented E-commerce, Intermediary-oriented E-commerce, and E-Commerce), By Application (Large Enterprises and SMEs), Regional Insights, and Forecast From 2024 To 2031

Updated On: 01 April 2024

E-Commerce Market Report Overview

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The global e-commerce market size was USD 7750530 million in 2021 and is expected to reach USD 32869112.68 million in 2031, exhibiting a CAGR of 17.4% during the forecast period.

The emergence of the internet and digitalization have changed how consumers purchase. Customers have switched from traditional brick-and-mortar stores to online retailers due to the convenience and improved services offered by the latter. As software connects the e-commerce platform with the brick-and-mortar stores, the growing use of e-commerce in the FMCG industry would have an impact on retail omnichannel commerce. Large amounts of data are produced by the real-time data interchange between various devices and are accessible across both public and private network connections. Retailers now have the chance to provide technologically innovative products thanks to IoT. In smart cities, all communication-related devices use IoT-based platforms as well, which is anticipated to drive the expansion of the FMCG e-Commerce industry.

COVID-19 Impact:

"Maintain their Trading Networks, Which Fueled Demand for the E-Commerce Growth Market "

Many industries were impacted by this outbreak, making it impossible for them to maintain their intricate trading networks, which fueled demand for the e-commerce market. For instance, on the Shopify platform, renowned digital commerce startup Dialogue debuted the app version of their cutting-edge, AI-based solution. This should aid organizations in combating the COVID-19 pandemic's effects. With this change, it is predicted that small e-commerce companies using the Shopify platform would be able to use the same cutting-edge personalization technologies as large corporations and enterprises, improving the CX experience and increasing retention and sales.

Latest Trends

"The Use of Technology to Enhance the User Experience is the Primary Trend Fueling Industry Expansion"

Technology's advancement and development have reached numerous e-commerce sectors. The incorporation of several technologies by providers, such as augmented reality (AR) and virtual reality (VR), has aided consumers in selecting the ideal home décor for their properties. Users can enter rooms into the app and then choose items from a company-provided list after entering the room. Additionally, customers may nearly completely view all the various colours and textures of a product just pointing their iPhones towards that thing. Customers can use the app to directly order goods once they've created a virtual area. During the forecast period, these technological advancements will drive the market's expansion.

E-Commerce Market Segmentation

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• By Type Analysis

According to type, the e-commerce market can be segmented into Buyer-oriented e-commerce, Supplier-oriented e-commerce, Intermediary-oriented e-commerce, and e-Commerce.  

In terms of type, the buyer-oriented e-commerce is anticipated to be the largest segment during the forecast period.  

• By Application Analysis

Based on application, the e-commerce market can be divided into Large Enterprises and SMEs.  

In terms of application, Large Enterprises market is projected to hold the largest market share through 2028.

Driving Factors

"The division for card Payments in Charge to Encourage Market Growth  "

According to payment mode, the e-commerce market was dominated by the card payment category. The greatest share for the card payment category in the e-commerce market was supported by the rising use of credit, debit, and pre-paid cards, which offer users ease and security. The expansion of digital wallet promotion and the increase in smartphone and tablet sales with integrated digital wallet applications are two factors that are expected to drive the e-commerce market.

"The Beauty and Fashion Products Purchasing Online Led to Fuel Market Growth "

According to offering, the global e-commerce market is dominated by the beauty and fashion products area. The significant market share of this sector is mostly due to the constantly evolving client preferences for online shopping and the increasing demand for apparel and cosmetics. The inclusion of cutting-edge technologies into online platforms and the availability of a variety of beauty and fashion products for comparison on digital platforms further contribute to the growth during the projection period.

Restraining Factors

"The Regulatory Challenges are the Major Obstacle for the E-commerce Market Growth"

contradictory laws Any firm must adhere to uniform laws and standards. Even industrialized nations are discussing whether federal and state taxes should be levied on transactions made through e-commerce. This further demonstrates how inconsistent the legal and tax systems are in less developed nations.  

E-Commerce Market Regional Insights

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Most of the global e-commerce market is controlled by the Asia-Pacific area. The presence of significant companies and their emphasis on improving digital technologies are principally responsible for this region's big share. Additionally, this region is anticipated to expand significantly over the course of the forecast period as a result of rising smartphone and internet penetration, rising consumer awareness of the advantages of online shopping with advanced payment methods, and growing attention from new retailers to providing their goods and services online to consumers.

Key Industry Players

"Adoption Experiential Marketing Services by Key Players Influencing Market Development"

The top key players in the market such as amazon, Alibaba, Rakuten, IBM, SAP Hybris, Oracle. Most of the top players hold the e-commerce market share in some regions. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the e-commerce market growth in the competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates the e-commerce market.  

List of Market Players Profiled

• Amazon
• Alibaba
• Rakuten
• IBM
• SAP Hybris
• Oracle
• India MART
• Walmart
• Mercateo
• Magento (Adobe)
• Global Sources
• NetSuite

Report Coverage

This report examines an understanding of the e-commerce market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.