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E-commerce Market: Technology and Trend
Meticulous Research®—a leading global market research company, published a research report titled, ‘E-commerce Market by Business Model, Browsing Medium, Payment Mode (Card Payments, Digital Wallets, Bank Transfer), Operational Channel, Offering (Beauty & Fashion, Food & Beverage, Electronic, Household) - Global Forecast to 2030.’Download Free Research PDF @ https://www.meticulousresearch.com/download-sample-report/cp_id=4644?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=04-04-2024
According to this latest publication from Meticulous Research®, the E-commerce market is projected to reach $21,168.6 billion by 2030, at a CAGR of 16.9% during the forecast period.The growth of the E-commerce market is driven by the rising penetration of the Internet and smartphones, growing usage of social media and social commerce, growth in the omni-channel business model, and advancement of multiple payment modes. However, online fraud and cybersecurity issues may restrain the market's growth.
E-commerce automation and expansion of cross-border E-commerce are expected to offer significant growth opportunities for the E-commerce market. However, local laws and legislation affecting cross-border E-commerce and trust deficit due to lack of touch and feel experience may hinder the growth of this market. Furthermore, on-site customization, personalized experience, and use of AR and VR in E-commerce are major trends in the E-commerce market.
Meticulous Research® has segmented this market based on business model, browsing medium, payment mode, operational channel, offering, and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
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Based on business model, in 2023, the horizontal E-commerce segment is expected to account for the larger share of the E-commerce market. The horizontal E-commerce model caters to a diverse product category and hence enjoys a large section of consumers and high sales, contributing to the large share of the segment. A horizontal E-commerce model can be a successful strategy for businesses looking to capture a broad customer base, increase sales, and achieve economies of scale.
Based on browsing medium, in 2023, the desktop/laptop segment is expected to account for the larger share of the E-commerce market. The large market share of this segment is attributed to the growing demand during the COVID-19 pandemic, and the work-from-home culture has positively impacted desktop/laptop sales. Besides, customer preference for high-quality visualization, which gives a better shopping experience and detailed product information, has increased the E-commerce sale via desktop/laptop. Desktops/laptops are still an important platform for E-commerce, particularly for activities that require more detailed browsing and secure transactions.
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Based on payment mode, in 2023, the card payments segment is expected to account for the largest share of the E-commerce market. Card payments are essential for E-commerce businesses offering customers a seamless and secure payment option. Businesses need to offer multiple card payment options to cater to different customers' preferences and ensure a positive customer experience. Card payments also lower the risk of fraudulent transactions and chargebacks. They increase sales for E-commerce businesses by providing customers with a secure and convenient payment option. Multiple card payment options are important to cater to customer preferences and ensure a positive shopping experience.
Based on operational channel, in 2023, the omni-channel E-commerce segment is expected to account for the larger share of the E-commerce market. The large market share of this segment is attributed to the increased customer experience, increased sales and consumer traffic, boosting customer loyalty, and better data collection for optimum customer and resource management.
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Based on offering, in 2023, the beauty & fashion products segment is expected to account for the largest share of the E-commerce market. The large market share of this segment is attributed to the rapidly changing customer behavior and preference towards online shopping, the high demand for cosmetics and clothing, and the rising popularity of mobile wallets. Besides, the increasing use of smartphones, incorporation of advanced technologies in online platforms, and various beauty & fashion goods available for comparison on E-commerce platforms further augment this segment's growth.
Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the E-commerce market. Large consumer groups, growing penetration of smartphones and the Internet penetration, and rising disposable income have helped the region emerge as the largest E-commerce market.
Key Players
The key players operating in the E-commerce market are Amazon.com, Inc. (U.S.), Alibaba Group Holding Limited (China), eBay Inc. (U.S.), JD.com, Inc. (Jingdong) (China), Rakuten, Inc. (Japan), The Home Depot, Inc. (U.S.), Zalando SE (Germany), Otto GmbH & Co KG (Germany), Priceline.com (U.S.), B2W Digital Company (Brazil), Groupon, Inc. (U.S.), Walmart Inc. (U.S.), Inter IKEA Systems B.V. (Netherlands), Costco Wholesale Corporation (U.S.), Shopify Inc. (Canada), Wayfair Inc. (U.S.), Suning.com Co., Ltd. (Suning Commerce Group Co., Ltd.) (China), Best Buy Co., Inc. (U.S.), and Tesco plc (U.K.).
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Related Report ::
> Asia-Pacific E-commerce Market by Business Model (Horizontal E-commerce and Vertical E-commerce), Browsing Medium, Payment Mode (Card Payments, Digital Wallets, Bank Transfers, Cash Payments), Operating Channel, and Offering - Forecast to 2030 >> https://www.meticulousresearch.com/product/asia-pacific-e-commerce-market-5596
> Europe E-commerce Market by Business Model (Horizontal E-commerce and Vertical E-commerce), Browsing Medium, Payment Mode (Card Payments, Digital Wallets, Bank Transfers, Cash Payments), Operating Channel, and Offering - Forecast to 2030 >> https://www.meticulousresearch.com/product/europe-e-commerce-market-5663
> South East Asia E-commerce Market by Business Model (Horizontal E-commerce and Vertical E-commerce), Browsing Medium, Payment Mode (Card Payments, Digital Wallets, Bank Transfers, Cash Payments), Operating Channel, and Offering - Forecast to 2030 >> https://www.meticulousresearch.com/product/south-east-asia-e-commerce-market-5599
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