The global E-commerce market should reach $5,879.1 billion by 2022 from $2,682.1 billion in 2017 at a compound annual growth rate (CAGR) of 16.8% from 2017 to 2022.
In recent times, E-commerce has already changed the timing, process, and technology of business-to-business and business to consumer market. The growing acceptance of technology across the world is allowing the e-commerce sector to be more resourceful and reachable in the coming years.
According to the latest study, global e-commerce market growth outlook is positive with significant growth potential for e-commerce trend in emerging countries. Market Research Hub (MRH) has publicized a new study titled, “E-Commerce: Global Markets to 2022” to its massive offerings of research studies, which majorly aims to provide comprehensive insights into the market current scenario and future growth prospects during the mentioned forecast period of 2017-2022.
In order to capture a global understanding, the report has computed its market size forecasts in terms of volumes (tons) across various geographies, such as North America, Latin America, Japan, Europe, and Asia-Pacific. The research provides a detailed overview of the market along with its introduction, number of drivers, opportunities and restraints.
Key Insights from the Study
As per the recent evaluations, the global E-commerce market should reach a value of $5,879.1 billion by 2022 from $2,682.1 billion in 2017. Rising at this pace, the market will grow at a remarkable CAGR of 16.8% from 2017 to 2022.
The rising disposable income level, increasing middle-class population and increasing internet & smartphones penetration, access to online payment options, and technological advances such as big data and cloud-based e-commerce platforms are driving the e-commerce industry speeding.
Considering the future plans of key players, the research suggests that introduction of Big Data in E-commerce, cloud-based e-commerce platforms, cashback to retain customers, m-commerce in e-retailing, e-commerce companies investing in brick-and-mortar stores, and same day deliveries are estimated to shape future market scenario rapidly.
On the basis of geography, the research study finds that Asia-Pacific is the largest market for e-commerce, followed by North America and Western Europe. Going forward, Asia-Pacific is expected to witness the fastest growth in this market at an impressive value and CAGR, followed by Africa.
In this region, China is the largest market in terms of value. Also, India and China are forecasted to have the wildest growth in the coming years.
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As the report moves ahead, the report offers segmentation of the global e-commerce market by geography and product offerings, such as apparel and accessories, electronics and media, food and personal care, and furniture and appliances. According to the findings, the highest growth is projected to come from food and personal care segment.
For its readers, the report also examines competition landscape in the global market by outlining the key players. At present, major players in the market are JD.com, Apple, Amazon, Alibaba, and Walmart.
Of these, Amazon accounted for the largest share of the market for e-commerce in 2017.
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