B2C E-Commerce Market: Asia Pacific Accounted For The Largest Revenue Share
B2C E-commerce Industry Overview
The global B2C e-commerce market size was valued at USD 3.67 trillion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 9.7% from 2021 to 2028. The growth can be attributed to the rising disposable income, global per capita income, and expanding internet penetration. The increasing technological adoption accompanied by the easy availability of smartphones has enabled the e-commerce sector to be more reachable and efficient. The increasing use of social networks is further driving the demand for online purchasing of various products and services. The market is expected to witness high growth over the forecast period mainly due to growing digital dependency and the convenience of shopping on online platforms. It has evolved amid a busy lifestyle and an overabundance of options available to shop from the comfort of home.
Convenience is the major factor driving the growth of the overall online shopping industry. Customers can find their interested products by visiting the website and gaining additional insights on various products. The market is witnessing a paradigm shift toward m-commerce from e-commerce, as customers increasingly use smartphones to purchase goods and services online. The lack of an organized offline retail sector is also driving growth on a global scale.
Gather more insights about the market drivers, restrains and growth of the Global B2C E-commerce market
The industry is relatively stable and the competitive rivalry continues to be intense due to mergers and acquisitions. Key players in the market for B2C e-commerce include Amazon.com, Inc.; ALIBABA GROUP HOLDING LIMITED; JD.com, Inc.; Flipkart.com; and PayPal Holdings; Inc. The companies continue to show tremendous growth and attract big investors, in tandem with the global giants, thereby, leveling up the competition. Besides, the companies are distinguishing themselves by providing niche product offerings along with innovative services.
In light of the recent coronavirus (COVID19) pandemic, B2C e-commerce platforms experienced a steep demand for essential goods products such as groceries, personal care products, and bathroom essentials. However, in the initial phase (Q1 & Q2), the rising severity of COVID-19 across the globe forced governments across various countries to complete lockdown, thereby disrupting supply chains and impacting e-commerce sales in a negative way. Moreover, U.S. and China-leading contributors to e-commerce growth-have been hit hardest by the COVID-19 pandemic.
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B2C E-commerce Market Segmentation
Grand View Research has segmented the global B2C e-commerce market based on type, application, and region:
B2C E-commerce Type Outlook (Revenue, USD Billion, 2016 - 2028)
- B2C Retailers
- Classifieds
B2C E-commerce Application Outlook (Revenue, USD Billion, 2016 - 2028)
- Automotive
- Beauty & Personal Care
- Books & Stationery
- Consumer Electronics
- Clothing & Footwear
- Home Décor & Electronics
- Sports & Leisure
- Travel & Tourism
- Media & Entertainment
- Information Technology (Software)
- Others
B2C E-commerce Regional Outlook (Revenue, USD Billion, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies profiled:
Some prominent players in the global B2C E-commerce market include
- ALIBABA GROUP HOLDING LIMITED
- com, Inc.
- ASOS
- eBay Inc.
- Flipkart Internet Private Limited
- com, Inc.
- MakeMytrip Pvt.Ltd.
- OLX
- PayPal Holdings, Inc.
- Craigslist, Inc.
Order a free sample PDF of the B2C E-commerce Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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