E-commerce Market: Anticipated Growth to USD 20.35 Trillion by 2030, at a 15% CAGR

Industry leaders predict significant advancements in technology, user experience, and market expansion.

LUTON, BEDFORDSHIRE, UNITED KINGDOM, September 3, 2024 /EINPresswire.com/ -- 𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐄-𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐚𝐧𝐭𝐢𝐜𝐢𝐩𝐚𝐭𝐞𝐝 𝐭𝐨 𝐠𝐫𝐨𝐰 𝐟𝐫𝐨𝐦 𝐔𝐒𝐃 𝟕.𝟔𝟓 𝐓𝐫𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟑 𝐭𝐨 𝐔𝐒𝐃 𝟐𝟎.𝟑𝟓 𝐓𝐫𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟎, 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟏𝟓 % 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝.

𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧

It is important to note that today’s global economy is gradually changing and developing and, consequently, the market of e-commerce is actively growing and transforming. Technological inventions and shift of preferences for buyers towards online shopping have exerted pressure on e-commerce to become mainstream business in the retail industry. The latest reports have suggested that the market for e-commerce will hit new milestones in the year 2024 and the various professionals and analysts of the different industries think that the growth is going to be immense because of the new technologies and the widened reach.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐲𝐨𝐮𝐫 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐫𝐞𝐩𝐨𝐫𝐭 𝐭𝐨𝐝𝐚𝐲@:

https://exactitudeconsultancy.com/reports/37408/e-commerce-market/#request-a-sample

𝐊𝐞𝐲 𝐓𝐫𝐞𝐧𝐝𝐬 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐆𝐫𝐨𝐰𝐭𝐡

The e-commerce market's exponential growth is attributed to several key trends that are reshaping the industry:

𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬

Advanced technologies including but not limited to AI, AR, VR, and blockchain provide a new perspective to e- commerce. Chatbots as well as recommendation systems are helping to deliver better customer services, on the other hand AR and VR are offering new ways of shopping experiences. Security and traceability of transactions through the use of this technology makes consumers embrace and trust products with blockchain technology.

𝐌𝐨𝐛𝐢𝐥𝐞 𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐞 (𝐌-𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐞) 𝐒𝐮𝐫𝐠𝐞

With the help of the smartphone and other portable devices mobile buying has become more popular. Thanks to advances in technology, the freedom to shop at one’s own convenient time and from the comfort of one’s own home or other preferred location makes mobile platforms an important factor for e-commerce strategies. The use of website and applications that are friendly for the mobile devices is becoming vital for organizations to capture the increased number of mobile buyers.

𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐄𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞

In order to retain customers and make sales customers have to be treated individually. Online stores are using big data in personalization of products for recommendation, targeted marketing strategies and customized consumer experience. Meeting the customer’s needs and expectations of having a smooth and unique experience across the digital channel has remained a primary goal to every e-commerce business.

𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐨𝐟 𝐄-𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐭𝐨 𝐄𝐦𝐞𝐫𝐠𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭𝐬

There is increasing internet connectivity, and smart phone usage in emerging markets, hence presenting new opportunities for the e-commerce firms. Such markets are now being targeted by companies in order to deliver specialized products and services for the consumers in the respective regions.

𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐒𝐨𝐜𝐢𝐚𝐥 𝐌𝐞𝐝𝐢𝐚 𝐚𝐧𝐝 𝐈𝐧𝐟𝐥𝐮𝐞𝐧𝐜𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭𝐢𝐧𝐠

Social networks are becoming one of the most important factors that influence the decision made by consumers. A new trend has been discovered to be effective in e-commerce and this is influencer marketing. Social media platforms are also changing into the marketplace where consumers are also buying products through posts and ads.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

In this section, we assess the competitive landscape of the E-commerce Market, focusing on key players.

Amazon

Alibaba Group

eBay

Walmart

Shopify

com

Rakuten

Flipkart

Etsy

MercadoLibre

Zalando

ASOS

Overstock

Snapdeal

Pinduoduo

Wayfair

Lazada

Coupang

Newegg

Chewy

𝐂𝐚𝐬𝐞 𝐒𝐭𝐮𝐝𝐢𝐞𝐬 𝐚𝐧𝐝 𝐒𝐮𝐜𝐜𝐞𝐬𝐬 𝐒𝐭𝐨𝐫𝐢𝐞𝐬

𝐀𝐦𝐚𝐳𝐨𝐧: As a global leader in e-commerce, Amazon has set the standard for customer experience, logistics, and innovation. Its Prime membership program, same-day delivery, and vast product selection have made it a preferred choice for online shoppers.

𝐀𝐥𝐢𝐛𝐚𝐛𝐚: Alibaba's success in China and its expansion into international markets demonstrate the potential of e-commerce in emerging economies. The company's ecosystem, which includes e-commerce platforms, cloud computing, and digital payments, has created a comprehensive shopping experience for consumers.

𝐒𝐡𝐨𝐩𝐢𝐟𝐲: Shopify has empowered small and medium-sized businesses to enter the e-commerce space with its easy-to-use platform and extensive range of tools. Its success highlights the growing trend of independent online stores and the democratization of e-commerce.

𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐄-𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 @:

https://exactitudeconsultancy.com/reports/37408/e-commerce-market/

𝐄-𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

The e-commerce market is differentiated by its model type and by applications and each of them plays a pivotal role in the global e-commerce market which is expected to grow to trillions of USDs.

𝐁𝐲 𝐓𝐲𝐩𝐞

B2C e-commerce model has the highest market share of the total models due to the enhancement of consumer buying behavior due to convenience and available product variety. The value of B2C commerce is predicted to exhibit a steady increase as more and more consumers have access to efficient internet retailing and the growing usage of Internet-equipped smart phones. Another subsector that is also on the upswing is the Business-to-Business (B2B) e-commerce due increased efficiency sought in procurement and supply chain. The Consumer-to-Consumer (C2C) model though comparatively smaller is on the rise as many companies are venturing into online market places where every consumer transacts with another consumer.

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

If we discuss applications of e-commerce market, it is important to say that it is divided into several major sectors. This segment is growing at a healthy pace because the customers tend to make the purchase of beauty products online because of following trends and celebrities on social media. Consumer Electronics is another major category influenced by the consumers’ constant need for electronic devices and home appliances particularly during sales promotions. Fashion & Apparel sector continues to be a market leader for the online fashion firms who are attempting to give relevant searching or filtering trends, smooth refunds procedure and many others. Food & Beverage segment is gradually emerging, and with the current development of home deliveries and online food orders. Furniture & Home e-commerce is also on the rise which is due to the fact that it is easy to scroll through large catalogs and get access to a variety of home decor related products. The other segments comprise books, toys, and health care and all these are fundamental to the general e-commerce market revenue indicating the customer diverseness and flexibility of e-commerce for numerous necessities.

𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧𝐬

With profound changes in people’s lifestyles today, advances in technology are considered instrumental to the growth of e-commerce. AI is helping companies to improve customer services through use of chat bots and intelligent product recommendations based on the consumers’ behavior and choices. AR & VR is also expected to enhance product viewing techniques where customer can virtually try and shop. The transactions are being protected with the help of block chain and the overall working of the supply chain is being made transparent so that people can trust it.

𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐄-𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐚𝐧𝐝 𝐒𝐮𝐩𝐩𝐥𝐲 𝐂𝐡𝐚𝐢𝐧 𝐈𝐬𝐬𝐮𝐞𝐬

Logistics are an essential component of supply chain management as it determines the delivery time and satisfaction of the consumers. There are shorter average delivery lead-times today, and there is massive growth in e-commerce firm logistics networks to match consumer expectations.

𝐃𝐚𝐭𝐚 𝐏𝐫𝐢𝐯𝐚𝐜𝐲 𝐚𝐧𝐝 𝐂𝐲𝐛𝐞𝐫𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐂𝐨𝐧𝐜𝐞𝐫𝐧𝐬

That is why such activities as making purchases online have raised issues of data protection and cyber risks. E commerce platforms need to have strong security measures as well as privacy to protect the consumer’s data and gain confidence.

𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐚𝐧𝐝 𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬

Legal issues are also a major concern since e-commerce organizations have to deal with several regulations and compliance laws in various countries. It has been highlighted that compliance with data protection laws and consumer’s right regulations affects the brand image.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐚𝐭𝐮𝐫𝐚𝐭𝐢𝐨𝐧

The e-commerce market world is very crowded, so it is possible to find many competitors to get the client’s attention. To be different from the competitors and to sustain market share crucialities and innovation and value offering proposition.

𝐄-𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

In this section, we provide a breakdown of the E-commerce Market into segments based on different criteria, including the type of analysis, industry verticals, and geographic regions.

E-commerce Market by Model Type Value (USD Trillion)

Business-to-consumer (B2C)

Business-to-business (B2B)

Consumer-to-consumer (C2C)

E-commerce Market by Application Value (USD Trillion)

Beauty & Personal Care

Consumer Electronics

Fashion & Apparel

Food & Beverage

Furniture & Home

Other Applications

𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤

The further prospects for the e-commerce market look quite optimistic, thanks to the developments of new technologies that will transform the process of shopping. Analysts expect sustained growth of e-commerce due to such trends as AI, AR/VR, and e-commerce in the metaverse. Growth in the volume of conscious purchasing and consumer sensitivity to the replacement of traditional purchases with sustainable and ethical consumption will influence the further development of e- commerce that is linked to quicker and more efficient delivery services. Thus, e-commerce companies should be able to adjust to prevailing market conditions and/or consumer preferences concerning the quality of products, delivery and payment options among others as the market progresses.

𝐂𝐨𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧

The e-commerce market for products is experiencing increase in the growth path due to factors such as Technological advancements, shifting customer habits and geographical diversification. The industry is ever growing, competition is stiff, thus businesses have to innovate, put the clients first, and be ready to overcome some challenges if they are to harness the opportunities that are present in the future.

𝐊𝐞𝐲 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝 𝐢𝐧 𝐄-𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:

What is the present E-commerce market size in terms of revenue and volume, and how much growth is expected during the forecast period?

Which are the key developments that are anticipated to stimulate E-commerce market trends?

Which factors will trigger product demand and how much product consumption is estimated?

What are the upcoming business opportunities and restraints?

Which region will dominate the global E-commerce market share?

𝐓𝐨𝐩 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

𝐂𝐚𝐩𝐬 & 𝐂𝐥𝐨𝐬𝐮𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The global Caps & Closure market size is expected to grow at more than 5.15% CAGR from 2024 to 2030. It is expected to reach above USD 100.96 billion by 2029 from a little above USD 64.25 billion in 2020.

https://exactitudeconsultancy.com/reports/19885/caps-closure-market/

𝐆𝐫𝐨𝐰 𝐋𝐢𝐠𝐡𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

The global grow lights market was valued at 3.90 billion in 2023 and is projected to reach 21.24 billion by 2030, growing at a CAGR of 27.4% from 2024 to 2030.

https://exactitudeconsultancy.com/reports/31020/grow-lights-market/

𝐄𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞 𝐏𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭

The global enterprise performance management market is expected to grow at 20.4 % CAGR from 2020 to 2029. It is expected to reach above USD 105.27 billion by 2029 from USD 19.8 billion in 2020.

https://exactitudeconsultancy.com/reports/16506/enterprise-performance-management/

𝐒𝐞𝐥𝐟-𝐬𝐭𝐨𝐫𝐚𝐠𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The self-storage market is expected to grow at 6.17% CAGR from 2024 to 2030. It is expected to reach above USD 88.45 billion by 2029 from USD 49.77 billion in 2020.

https://exactitudeconsultancy.com/reports/15697/self-storage-market/

𝐀𝐢𝐫 𝐒𝐭𝐞𝐫𝐢𝐥𝐢𝐳𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭

The global air sterilizer market size is projected to grow from USD 6.87 billion in 2023 to USD 8.74 billion by 2030, exhibiting a CAGR of 3.5% during the forecast period.

https://exactitudeconsultancy.com/reports/40723/air-sterilizer-market/

𝐃𝐚𝐭𝐚 𝐂𝐞𝐧𝐭𝐞𝐫 𝐋𝐨𝐠𝐢𝐜𝐚𝐥 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐌𝐚𝐫𝐤𝐞𝐭

The global data center logical security market is projected to reach USD 6.84 billion by 2029 from USD 3.32 billion in 2020, at a CAGR of 9.23 % from 2024 to 2030.

https://exactitudeconsultancy.com/reports/16640/data-center-logical-security-market/

𝐏𝐨𝐥𝐲𝐦𝐞𝐫 𝐓𝐮𝐛𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

The global polymer tubes market is expected to grow at more than 7% CAGR from 2024 to 2030. It is expected to reach above USD 15.2 billion by 2028 from a little above USD 8.12 billion in 2019.

https://exactitudeconsultancy.com/reports/1744/polymer-tubes-market/

𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐏𝐚𝐢𝐧𝐭𝐢𝐧𝐠 𝐒𝐨𝐟𝐭𝐰𝐚𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The digital painting software market is expected to grow at 15.4% CAGR from 2024 to 2030. It is expected to reach above USD 2.72 billion by 2029 from USD 0.75billion in 2020.

https://exactitudeconsultancy.com/reports/22085/digital-painting-software-market/

𝐒𝐢𝐥𝐢𝐜𝐚 𝐅𝐮𝐦𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The global silica fume market is expected to grow at 4.7 % CAGR from 2024 to 2030. It is expected to reach above USD 986.88 million by 2030 from USD 564.8 million in 2020.

https://exactitudeconsultancy.com/reports/19343/silica-fume-market/

𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐥 𝐖𝐚𝐭𝐞𝐫𝐩𝐫𝐨𝐨𝐟𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐨𝐮𝐧𝐝 𝐌𝐚𝐫𝐤𝐞𝐭

The global Integral Waterproofing Compound Market is projected to reach USD 41.33 Million by 2030 from USD 33.09 Million in 2020, at a CAGR of 2.5% from 2024 to 2030.

https://exactitudeconsultancy.com/reports/2663/integral-waterproofing-compound-market/

𝑾𝒆 𝒐𝒇𝒇𝒆𝒓 𝒄𝒖𝒔𝒕𝒐𝒎𝒊𝒛𝒂𝒕𝒊𝒐𝒏 𝒐𝒏 𝒕𝒉𝒆 𝑬-𝒄𝒐𝒎𝒎𝒆𝒓𝒄𝒆 𝒎𝒂𝒓𝒌𝒆𝒕 𝒓𝒆𝒑𝒐𝒓𝒕 𝒃𝒂𝒔𝒆𝒅 𝒐𝒏 𝒔𝒑𝒆𝒄𝒊𝒇𝒊𝒄 𝒄𝒍𝒊𝒆𝒏𝒕 𝒓𝒆𝒒𝒖𝒊𝒓𝒆𝒎𝒆𝒏𝒕𝒔:

https://exactitudeconsultancy.com/primary-research/

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