E-Commerce Market Size (2024 - 2029)

E-Commerce Market Analysis

The E-Commerce Market size is estimated at USD 8.80 trillion in 2024, and is expected to reach USD 18.81 trillion by 2029, growing at a CAGR of 15.80% during the forecast period (2024-2029).

• As internet penetration rises, so does the global smartphone user population. This expanding user base increasingly engages with various e-commerce avenues, including digital content, financial services, travel and leisure, and e-tailing. Consequently, as internet usage surges, the technical understanding of consumers is anticipated to bolster market growth.
• Due to reduced communication costs and infrastructure, established businesses and major corporations are gravitating toward online platforms. E-commerce not only streamlines client outreach for these organizations but also amplifies their visibility. Furthermore, online marketing tools, including Google and Facebook ads, play a pivotal role in propelling e-commerce.
• Small and medium-sized enterprises (SMEs) are witnessing significant growth, particularly in nations like India, China, South Africa, and Russia. Initiatives such as 'Make in India' and 'Start-up India' have catalyzed a surge in start-ups leveraging the internet marketplace, further fueling market expansion. However, the lack of technical infrastructure in rural regions of countries like India, China, and Brazil may hinder this growth trajectory.
• Additionally, e-commerce merchants are reaping the rewards of the market’s global expansion. For example, in November 2023, Shopify merchants celebrated a milestone, with the company announcing a record USD 9.3 billion in sales during the Black Friday-Cyber Monday period, marking a 24% uptick from the prior year.
• Numerous established firms are pivoting to online platforms, aiming to curtail communication and infrastructure costs. E-commerce simplifies audience targeting for these companies and increases the demand for marketing tools like Google and Facebook ads, underscoring their effective adoption.

E-Commerce Industry Segmentation

E-commerce refers to selling clothing, electronics, furniture, books, cosmetics, and other items over the Internet. Companies that provide home delivery services, such as e-commerce and m-commerce, are included.

Retailers and their consumers conduct sales transactions using information technology, such as the telephone and the Internet, and merchandise is often delivered via mail or courier. Direct mailers that sell their merchandise and retail through online websites are also included in the e-commerce market.

The e-commerce market is segmented by B2C e-commerce (beauty and personal care, consumer electronics, fashion and apparel, food and beverage, furniture, and home), B2B e-commerce, and geography (North America (United States and Canada), Europe (Germany, United Kingdom, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.