The Global E-Commerce Market is expected to expand at a CAGR of 32.4% till 2024
Research on Global Markets has announced the addition of a new report titled “Global E-Commerce Market (2019-2024)” to their offering. According to the report, the global e-commerce market is expected to reach a value of USD 34.2 Tn by 2024. Increased affordability of the internet, the introduction of various payment methods, like e-wallets, online payment apps and contactless technologies and the convenience of online shopping has been driving the e-commerce market all over the world.
The e-commerce market has been disrupting the modern marketplace by improving the shopping experience for the customers. It provides a wide range of choices, easy return policies and door-step delivery services. The sheer convenience of shopping from the comfort of one’s home or any place, at any time, without travelling to a store saves both time and money of the consumers.
The report provides a comprehensive analysis of the e-commerce market all over the world, taking into consideration the market segmentation, revenue, market drivers and challenges. As per the report, the consumer electronics segment holds the largest market share of the global e-commerce market.
According to the report on Research on Global Markets, the e-commerce market in the Asia Pacific region is projected to expand at the highest CAGR during the forecasted period. Due to the presence of several major players in the region, like Alibaba andJD.COM, the e-commerce market in this region is continuously being reshaped.
The rapid adoption of advanced technology like the Internet of Things, artificial intelligence, machine learning and data analytics across various segments of the e-commerce market has been transforming the e-commerce market. This has resulted in the enhancement of the agility of the supply chain to facilitate real-time tracking, flexible adjustments in production and quick responses to customer queries.
Research on Global Markets tracks the performance of some of the major players in the e-commerce market including Amazon, eBay Inc., JD.COM, Alibaba Group, Walmart Inc., Booking Holdings Inc., Expedia Group, Otto Group, The Home Depot and Costco Wholesale Corporation.
Business Benefits of the Report:
- The report covers an overview and market segmentation of the e-commerce industry.
- It provides a detailed comprehensive analysis of the global e-commerce market and its segmentation based on channel, which includes retail and wholesale market.
- The report provides a detailed layout of the market based on region. It covers e-commerce market shares of the North-America, Europe, Asia-Pacific, Latin-America, Middle-East and Africa.
- Additionally, the report includes a discussion on the key drivers of the e-commerce market and also the challenges faced by the market.
- It informs about the prospective competitors in the market gaining an edge and progressing rapidly through the adoption of various technological advancements.
The report has been designed to help businesses get a concise idea regarding the growth of the e-commerce market all around the world, develop business strategies and analyse the growth factors and the challenges in the market to enable them to identify the competition and take calculated risks that might be beneficial for the business.