B2C eCommerce Market Size Worth $5.53 Trillion in 2021 with the Highest Contribution from the Online Payment Type – GlobalData Plc
The B2C eCommerce market size was valued at $5.53 trillion in 2021, per the latest research report by GlobalData Plc. The report predicts the B2C eCommerce market to garner a CAGR of 9.7% from 2021 to 2026. The rising popularity of electronic payments and the emergence of Big Data and AI technologies are key factors driving the B2C eCommerce market growth. Furthermore, enhanced connectivity with an increase in internet penetration, coupled with technological integration for improving eCommerce solutions, will boost the B2C eCommerce market growth during the projected period.
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B2C eCommerce Market FAQs
- What was the B2C eCommerce market size in 2021?
The B2C eCommerce market size was $5.53 trillion in 2021.
- What is the B2C eCommerce market growth rate during 2021-2026?
The B2C eCommerce market will witness a CAGR growth of 9.7% during 2021-2026.
- What are the key segments of the B2C eCommerce market?
The key B2C eCommerce market is segmented by payment type and region.
- Which region accounted for the highest in B2C eCommerce market growth?
Asia Pacific accounted for the highest B2C eCommerce market share in 2021 and is expected to continue doing so during the forecast period.
- Which are the key players in the B2C eCommerce market?
com Inc, Walmart Inc, JD.com Inc, and Alibaba Group Holding Ltd, among others. are the key players in the B2C eCommerce market.
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B2C eCommerce Market Segment Highlights
- The online payment segment showcased promising B2C eCommerce market growth in 2021 owing to the rising internet penetration globally. Moreover, the increase in availability of mobile phone applications that support online payment and their ease of use have promoted their popularity among end-users. Besides, eCommerce platforms have been providing additional benefits and offers associated with online payment that are increasing their marketability and use. As a result, the market growth seems promising for the online segment during designated forecast period.
- In terms of regional opportunities, Asia Pacific will continue to hold the largest share of the total B2C eCommerce market during 2021-2026. The evolving online delivery trend in India is expected to favor the market growth over the forecast period. APAC customers are exploring online payment options more than ever, and this trend is expected to favor sales in the B2C eCommerce space. The rapid proliferation of new payment methods such as buy-now-pay-later is also expected to accelerate the regional demand.
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B2C eCommerce Market Trend Analysis
The report covers the following
- Industry Value Chain
- PORTER’s Analysis
- Market Variables & Impact Analysis
- Mergers & Acquisitions (M&A)
- Patent Analysis
- Job Analysis
- Venture Financing Analysis
- Social Media Analysis
- COVID-19 Impact
- Technology Trends
- Macroeconomic Trends
- Regulatory Trends
- Ecommerce Timeline
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B2C eCommerce Market Competitive Scenario
Competition in the B2C eCommerce industry is increasingly becoming a straight fight between the US and China, with a handful of tech behemoths dominating the market and amassing huge troves of user data. Various retailers are recognizing this shift in consumer shopping behavior and adopting mobile-first strategies. The availability of a myriad of mobile payments, including virtual wallets, contactless cards, and online payment services such as Apple Pay, Alipay, Paytm, and Samsung Pay, is further boosting growth in the mCommerce trend.
Top B2C eCommerce Market Players
- Alibaba Group Holding Ltd
- Apple Inc
- eBay Inc
- Pinduoduo Inc
- Rakuten Group Inc
- Shopify Inc
- Walmart Inc
- Zalando SE
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