E-Commerce Market to Witness 11% CAGR by 2031 | SkyQuest Technology

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Westford,USA, Oct. 10, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that E-Commerce Market will attain the value of USD 62415.2 Billion by 2031, with a CAGR of 11% during the forecast period (2024-2031). The e-commerce market is growing mainly due to factors such as the rise of smartphones and the internet, widespread use of social media to promote e-commerce sites, new payment methods etc. E-commerce helps firm lets them do business without requiring a physical infrastructure to do business. The online e-commerce portal offers customers a hassle-free shopping experience and includes a variety of products. The increasing number of small and medium enterprises is also expected to fuel demand over the forecast period.

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Browse in-depth TOC on “E-Commerce Market ”

  • Pages – 157
  • Tables – 120
  • Figures – 77

E-Commerce Market Overview:

Report Coverage Details
Market Revenue in 2023 USD 26673.64 Billion
Estimated Value by 2031 USD 62415.2 Billion
Growth Rate Poised to grow at a CAGR of 11%
Forecast Period 2024–2031
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Business model, Product offering, Browsing medium, Business transaction and Region
Geographies Covered North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunities Integration of Artificial Intelligence and Machine Learning
Key Market Drivers Rising Demand for Convenience and Personalization

B2B Segment to Dominate Due to Emphasis on Technologies

The B2B segment dominated the global e-commerce market, and this trend is expected to continue during the forecast period. It is the fastest growing segment at a CAGR of 27% due to emphasis on technologies like AR, VR and AI. Digital commerce software, which can be used in conjunction with ERP software and inventory management solutions, is expected to boost the e-commerce market due to benefits like value added services, wholesale discounts and various payment options available.

Desktop/Laptop Segment to Drive Market Due to Emphasizes the Shopping Experience

E-commerce had the largest market share in the desktop/laptop segment. Consumers tend to use desktops/laptops for online shopping because they have a larger screen that emphasizes the shopping experience. Compared to laptops or desktops, the desktop/tablet segment is currently experiencing greater growth in the e-commerce market. Moreover, mobile and tablet portability is superior to desktop/laptop and fast internet segment.

Asia Pacific is Dominating Due to Demand for E-commerce Adoption

Asia Pacific accounted for 55.3% of the e-commerce market and is predicted to develop hastily from 2024 to 2031. This is due to the multiplied desire of organizations to do commercial enterprise via B2B e-trade. Furthermore, expansion of services and growth of internet users are expected to boost the regional e-commerce market. Furthermore, the demand for B2B e-commerce adoption in this region is expected to increase, which can be attributed to the proliferation of smartphones as well as the consumer shift in the e-commerce market. Luxury brands and service providers are expanding rapidly in China.

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Drivers

  • Increasing Internet Penetration and Mobile Adoption
  • Rising Demand for Convenience and Personalization
  • Expansion of Digital Payment Solutions

Restraints

  • Logistics and Supply Chain Challenges
  • Cybersecurity and Data Privacy Concerns
  • Intense Competition and Market Saturation

Prominent Players in E-Commerce Market
The following are the Top E-Commerce Market Companies

  • Amazon.com Inc.
  • Alibaba Group Holding Limited
  • Walmart Inc.
  • JD.com Inc.
  • eBay Inc.
  • Rakuten Inc.
  • Zalando SE
  • Shopify Inc.
  • MercadoLibre Inc.
  • Etsy Inc.

View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/e-commerce-market

Key Questions Answered in E-Commerce Market Report

  • How big is the global E-Commerce Market?
  • What are the key restraints of the global E-Commerce Market size?
  • Which is the dominating region in the global E-Commerce Market?

This report provides the following insights:

  • Analysis of key drivers (increasing internet penetration and mobile adoption, rising demand for convenience and personalization, expansion of digital payment solutions), restraints (logistics and supply chain challenges, cybersecurity and data privacy concerns), opportunities (integration of artificial intelligence and machine learning) influencing the growth of E-Commerce Market.
  • Market Dynamics: Comprehensive information about the various products offered by the dominant players in the E-Commerce Market.
  • Product Development/Innovation: An overview of emerging trends, R&D activities and product launches in the E-Commerce Market. 
  • Market Growth: Detailed information on profitable growing industries. 
  • Market Trends: Complete information about new products, emerging geographical areas and recent developments in the market.
  • Competitive Analysis: An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players.

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About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.

Contact:
Mr. Jagraj Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/

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