Market Size of E-Commerce Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 8.80 Trillion |
| Market Size (2029) | USD 18.81 Trillion |
| CAGR (2024 - 2029) | 15.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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E-commerce Market Analysis
The E-Commerce Market size is estimated at USD 8.80 trillion in 2024, and is expected to reach USD 18.81 trillion by 2029, growing at a CAGR of 15.80% during the forecast period (2024-2029).
The global smartphone user population is increasing as the internet's penetration increases. Digital content, financial services, travel and leisure, and e-tailing, to name a few, are among the e-commerce possibilities available to the internet-connected client base, which is growing in popularity as internet usage rises. As a result, customers' technical knowledge is projected to impact market growth positively.
- Due to the lower cost of communication and infrastructure, established businesses and giant corporations are gravitating toward online business. E-commerce allows the organization to reach out to clients more efficiently, resulting in essential exposure to the firm. Online marketing tools such as Google advertisements and Facebook ads also drive e-commerce.
- Small and medium-sized businesses are expanding significantly, especially in India, China, South Africa, and Russia. Initiatives like Make in India and Start-up India have increased the number of start-ups that use the Internet marketplace to conduct business, boosting the market growth. The absence of deployment of technical infrastructure in rural parts of nations such as India, China, and Brazil is predicted to stifle market expansion.
- As retail outlets close, customers' preference for internet shopping increased due to the ongoing COVID-19 outbreak. The outbreak significantly impacted critical economies like the United States, China, India, and Italy. As a result, Europe and North America were expected to impact the market significantly.
