Global E-Commerce Market to Reach US$ 183.8 Trillion by 2032, Propelled by the Proliferation of Internet Connectivity

October 20, 2020 | Technology & Media

The latest report by IMARC Group, titled "E-Commerce Market Report by Type (Home Appliances, Apparel, Footwear and Accessories, Books, Cosmetics, Groceries, and Others), Transaction (Business-to-Consumer, Business-to-Business, Consumer-to-Consumer, and Others), and Region 2024-2032," finds that the global e-commerce market size reached US$ 21.1 Trillion in 2023. E-commerce, or electronic commerce, refers to the buying and selling of goods, services, or information over the internet or other electronic networks. It encompasses a wide range of online activities, such as online shopping, electronic fund transfers, internet banking, online auctions, and digital product delivery. At its core, e-commerce eliminates the need for physical presence or direct interaction between buyers and sellers. Instead, transactions occur electronically, with the internet serving as the primary medium. This allows businesses and consumers to engage in commerce conveniently, transcending geographical boundaries and time zones. E-commerce platforms provide an online marketplace where businesses can showcase their products or services, enabling customers to easily browse, compare, and make purchases. These platforms also include features like secure payment gateways, shopping carts, customer reviews, and personalized recommendations, which enhance the shopping experience.

Global E-Commerce Market Trends:

One of the key factors driving the market is the proliferation of internet connectivity worldwide. As more people gain access to the internet, the potential customer base for online businesses expands, leading to increased online shopping activity. Additionally, the widespread use of smartphones and tablets has revolutionized e-commerce as mobile devices provide convenient access to online platforms and enable users to shop on the go. The rise of mobile apps and responsive web design has further enhanced the mobile shopping experience, thus impelling the e-commerce industry. Other than this, e-commerce offers unparalleled convenience and accessibility to customers who can shop from the comfort of their homes or while on the move, saving time and effort. Furthermore, it provides access to a vast range of products and services from various vendors worldwide, which helps customers compare prices, features, and customer reviews, empowering them to make informed purchasing decisions. As a result, the ability to find unique or niche products online is contributing to the market growth. Along with this, efficient logistics and reliable fulfillment services are other major growth-inducing factors. Moreover, advancements in shipping, warehousing, and order fulfillment technologies have improved delivery speed and reliability. Furthermore, options like same-day or next-day delivery and hassle-free returns have further fueled the growth of e-commerce. On account of these factors, IMARC Group expects the market to reach US$ 183.8 Trillion by 2032, exhibiting a growth rate (CAGR) of 27.16% during 2024-2032.

Market Summary:

  • On the basis of the type, the market has been segmented into home appliances, apparel, footwear and accessories, books, cosmetics, groceries, and others. Currently, home appliances represent the most popular type.
  • Based on the transactional insights, the market has been classified into business-to-consumer, business-to-business, consumer-to-consumer, and others. Currently, business-to-business accounts for the largest market share.
  • Region-wise, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) exhibits a clear dominance in the market. Other major regions include North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Russia, Spain, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
  • The competitive landscape of the market has been examined in the report, with some of the key players being Alibaba Group Holding Limited, Inc., Apple Inc., B2W Companhia Digital (Lojas Americanas S/A), Ebay Inc., Groupon Inc., Rakuten, Walmart Inc., Zalando SE.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Trillion
Segment Coverage Type, Transaction, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Alibaba Group Holding Limited, Inc., Apple Inc., B2W Companhia Digital (Lojas Americanas S/A), Ebay Inc., Groupon Inc., Rakuten, Walmart Inc. and Zalando SE
Customization Scope 10% Free Customization
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Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global E-Commerce Market to Reach US$ 183.8 Trillion by 2032, Propelled by the Proliferation of Internet Connectivity
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