Retail E-commerce Market to Reach $17,613.67 Billion, Globally, by 2032 at 12.4% CAGR: Allied Market Research
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129 – Tables
48 – Charts
400 – Pages
Prime determinants of growth
Key factors such as rise in pebetration of artificial intelligence (AI) & voice recognition and increase in trend of digital payments act as the key driving forces of the retail e-commerce market. However, increase in data thefts on e-commerce platform is hampering the market growth. On the other hand, rise in headless and application programming interface-based (API) e-commerce is expected to provide lucrative opportunities for the market growth during the forecast period.
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The apparels & accessories segment to maintain its leadership status throughout the forecast period
Depending on product, the apparel & accessories segment held the highest market share in 2022, accounting for more than one-fourth of the global retail e-commerce market revenue and is estimated to maintain its leadership status during the forecast period. This is attributed to large global presence of a wide range of apparel and accessory companies. In addition, high demand for changing fashion & trend and rise in the popularity for the same is driving the segment growth. However, the groceries segment is projected to register the highest CAGR of 16.9% from 2022 to 2032 due to increase in convenience for people to order groceries from their homes rather than physically going to the retailer, which is time-consuming.
The hybrid marketplace segment to maintain its leadership status throughout the forecast period
According to type, the hybrid marketplace segment was the major shareholder in 2022, accounting for around two-fifths of share in the global retail e-commerce market and is estimated to maintain its leadership status throughout the forecast period. A large variety of products are available for customers on the online channel. Selecting and buying products takes less time, therefore making it easier for consumers to shop as per their convenience. In addition, consumers are increasingly physically visiting stores due to curiosity and need for fashionable brands to be a part of trend & status symbol. However, the pure marketplace segment is projected to register the highest CAGR of 15.6% from 2022 to 2032. This is attributed to high curiosity among people to visit the market to physically check the products.
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Middle East and Africa to maintain its dominance by 2032
Region wise, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global retail e-commerce market revenue in the region and is expected to dominate the market during the forecast period. This is attributed to presence of a large number of people using internet and smartphones in the region. However, the Middle East & Africa is expected to witness the fastest CAGR of 14.7% from 2022 to 2032 due to rapid digitalization in the region.
Leading Market Players
The report provides a detailed analysis of these key players of the global retail e-commerce market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, and agreements to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Key Benefits for Stakeholders
Retail E-commerce Market Key Segments:
By Product
By Type
By Region
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