(MENAFN- Meridian Market Consultants) The key objective of the newly published report by Reports & Insights termed as “E-commerce Market: Opportunity Analysis and Future Assessment 2022-2030”, is to offer its clients with an absolute all-embracing, superior quality primary data about the market potential and profound knowledge of the trends prevailing in the market. Reports & Insights provides the in-depth knowledge of the market developed by the acknowledged market expertise using verified research methodologies and proven analytical approaches. For the interest and intrigue of the readers, the report comes across at the outcome with a strong focus on the thorough outlining of the key players of the global E-commerce Market.
The global E-commerce market is estimated to reach at a value of US$ 48.2 Bn by the end of 2020 and expected to reach at a value of US$ 117.7 Bn by 2028 with a significant CAGR of 11.9%
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Ecommerce Introduction
E-commerce is becoming a crucial part of our day to day lives. It is redefining business and market activities around the world. Over the years, e-commerce has been revolutionized in subtle ways. Primarily, E-commerce is commonly known acronym for Electronic Commerce. It pertains to the exercise of buying and selling commodities or services over the internet network. Through the medium of the internet, people have the capability to purchase and sell anything and everything virtually, such as electronics, books, software, apparel, furniture and many more.
E-commerce offers a dias for people to purchase or sell anything and everything they want. Before the advent of E-commerce, the predominant structure of commerce was the brick-and-mortar. Brick-and-mortar trade activities are basically retail outlets that have at least one tangible location. Buying and selling commodities and services calls upon an active and physical communication between the buyer and the seller. The traditional brick-and-mortar businesses still exist, but are rapidly being replaced by E-commerce. In a progressive sense, the majority of the brick-and-mortar businesses are remodeling into E-commerce stores. therefore calling upon the installation of an online appearance and changing core business operations on the internet.
Ecommerce Market Dynamics
E-commerce has completely transformed the way business is done across the world and the rapid penetration of smartphones and internet across the world is one of the major factors why people are turning to virtual stores and virtual buying and selling processes, thereby propelling the growth of the global e-commerce market in the near future. In the present-day world, e-commerce is persisting to develop with novel innovations and technologies, and hundreds of businesses are arriving on the online market every year. E-commerce offered goods and services accessible to consumers at an economical cost, while ensuring speed and flexibility.
In addition to that, numerous technological advances like cloud-based e-commerce platforms and big data are also playing a positive role in boosting the growth of the global e-commerce market in the forthcoming years. Moreover, society and the world is revolutionizing at a fast pace and there has been many technological advances and modifications as well as a lot of emerging trends, including digital content, travel and leisure, financial services, e-tailing, which has access to millions of people around the world over the internet and thus have a vast customer base with heavy internet usage. Owing to which, the global e-commerce market is projected to observe major breakthroughs in the years to come.
Other than that, the implementation of 3G and 4G technology as well as rapid emergence of 5G technology for the connectivity purpose across the world, thereby providing seamless and uninterrupted experience to the users, which is also expected to have a positive impact on the flourishing growth of the e-commerce platforms in the near future, thus supporting the growth of the global e-commerce market over the forecast period.
By the same token, the adoption of smartphones and faster internet connectivity in most parts of the world, owing to the rising technological awareness among the consumers as well as enormous exposure to the e-commerce services is also further anticipated to augment the growth of the global e-commerce market in the given timeframe.
Furthermore, the global pandemic of COVID-19 along with the imposed worldwide lockdowns and travel bans and ultimately retail closure all across the world has further compelled the consumers to turn to online stores, which further majorly sustained the growth of the global e-commerce market.
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Ecommerce Market Segmentation
The global e-commerce market is segmented on the basis of model type and regions. On the basis of the model type, the e-commerce market is segmented into Business to Business (B2B), and Business to Consumer (B2C).
By Model Type
Business to Business (B2B)
Business to Consumer (B2C)
By Region
North America
Latin America
Africa
Europe
Asia Pacific
Middle East
E-commerce Market Key Players
The global ecommerce market is dominated by Amazon.com, Inc., JD.com, Inc., Apple, Inc., Alibaba Group Holding Limited, Flipkart Private Limited, Walmart, Inc., eBay, Inc., Best Buy, The Home Depot, among others
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About Reports and Insights:
Reports and Insights is one of the leading market research companies which offers syndicate and consulting research around the globe. At Reports and Insights, we adhere to the client needs and regularly ponder to bring out more valuable and real outcomes for our customers. We are equipped with strategically enhanced group of researchers and analysts that redefines and stabilizes the business polarity in different categorical dimensions of the market.
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