WASHINGTON, March 14, 2022 (GLOBE NEWSWIRE) — Recent analysis by Vantage Market Research of the global B2C e-commerce marketplace finds that increased Internet penetration is accelerating market growth. Mainly driven by the increasing trend of online shopping, the global B2C e-commerce market is expected to total $6.38 trillion by 2028, compared to $3.50 trillion in 2021, with a compound annual growth rate (CAGR) of 8.97%.
The increasing use of smartphones is also expected to fuel the growth of the global B2C e-commerce market, according to market research Vantage, in a report titled “B2C e-commerce market, by type (B2C retailers, classifieds), by application (automotive, beauty Personal care, books and stationery, consumer electronics, apparel and footwear, home décor and electronics, sports and entertainment, travel and tourism, media and entertainment, information technology (software), etc.), and by region (North America, Asia Pacific, Europe, and Latin America) – Global Industry Assessment (2016-2021) and predictions (2022-2028).”
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List of Notable Players in B2C E-Commerce Market:
| Mr. La | comp | headquarters |
| 1. | Alibaba Group Holdings Limited | Hangzhou, China |
| 2. | Amazon.com, Inc. | Washington, United States |
| 3. | ASOS | London, United Kingdom |
| 4. | eBay Inc. | California, United States |
| 5. | Flipkart | Bengaluru, India |
| 6. | JD.com, Inc. | Beijing, China |
| 7. | PayPal Holdings, Inc. | California, United States |
| 8. | OLX | amsterdam the netherlands |
| 9. | Shopify | Ottawa, Canada |
Market dynamics:
Engine: Increasing Internet penetration to stimulate market growth
According to estimates by the International Telecommunication Union, the global Internet penetration increased from approximately 17% in 2005 to 53% in 2019 and 4.1 billion people used the Internet in 2019, which is an increase of 5.3% compared to 2018. Moreover, it increased The number of Internet users averaged 10 percent each year between 2005 and 2019. In most developed countries, people are often seen on the Internet, approximately 87% of individuals use the Internet. Additionally, according to him, the number of active mobile broadband subscriptions continues to grow strongly per 100 inhabitants, with an annual growth of 18.4 percent along with the growth in mobile cellular and fixed broadband subscriptions. This increase is attributed to the increase in the income levels of consumers. This in turn is expected to increase business to the consumer e-commerce industry.
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Driver: Increased use of smartphones to drive market growth
The increase in the adoption of technologies such as the Internet of Things and machine learning in healthcare is expected to drive the growth of the global B2C e-commerce market during the forecast period. This is due to the emergence of budget-focused smartphones and the development of communications infrastructure along with a growing number of product launches with more advanced features. However, the increasing number of cybercrime, digital fraud and other bad practices may hinder the growth of the market in the near future. Moreover, the development of the next generation of cyber security solutions and the increase of government initiatives in order to promote digital health will further support the growth of the market.
Analysis of the impact of COVID-19:
The COVID-19 outbreak has affected many industries around the world. Governments around the world have implemented strict lockdown measures and social distancing measures in order to curb the rapid spread of the epidemic. Manufacturing facilities around the world were closed during the early stages of the pandemic. Moreover, the post-pandemic economic crisis may significantly delay the commercial spread of the next generation technology industry. SMEs are the backbone of technology providers and have been experiencing a sharp decline in revenue since the onset of the pandemic in 2020. Hence, the market players faced many challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will be made available online. The impact of COVID-19 on market demand is considered while estimating the current and projected market size and market growth trends for all regions and countries based on the following data points:
1. Assessing the impact of the COVID-19 pandemic
1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East and Africa
2. Asia Pacific Market Quarterly Revenue Forecast 2020 and 2021
3. Key Strategies Taken by Companies to Address COVID-19
4. Long term dynamics
5. Short term dynamics
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B2C E-Commerce Market Report Highlights:
● Market Assessment
● Distinguished Insights
● competitive landscape
● Analysis of the impact of COVID
● Historical data, estimates and forecasts
● Company Profiles
● Global and Regional Dynamics
Regional Analysis:
Asia Pacific dominates the global B2C e-commerce market
The Asia Pacific region occupied the largest market share in 2021. China occupied the largest market share in the Asia Pacific region in 2021. This is attributed to the increase in internet connectivity and the development of smart phone infrastructure in the region. Moreover, the economic development of economies such as China and India is likely to support the regional growth of the market. North America is expected to grow at a significant compound annual growth rate (CAGR) in the global B2C e-commerce market and is likely to continue in the same trend during the forecast period. This is attributed to the increasing penetration of the Internet in the region. Additionally, the increasing online shopping is also expected to support the growth of the market in the near future.
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Recent Developments:
September 2021: Infosys has launched the Infosys Equinox platform to help businesses securely deliver customized and highly segmented omnichannel commerce experiences to B2B and B2C subscribers.
Key questions answered in the report:
- Which regional market will show the highest rapid growth?
- Who are the top five players in the B2C e-commerce market?
- How will the B2C e-commerce market change in the next six years?
- What application and product will take the lion’s share of the B2C e-commerce market?
- What are the drivers and limitations of the B2C e-commerce market?
- What will the CAGR and B2C e-commerce market size be throughout the forecast period?
This market is titled B2C e-commerce marketplace It will cover the exclusive information in terms of regional analysis, forecasting, quantitative data – units, major market trends and various other information as mentioned below:
| Report feature | details |
| Market size in 2021 | 3.50 trillion US dollars |
| Expected market size in 2028 | 6.38 trillion US dollars |
| CAGR growth rate | Compound annual growth rate of 8.97% from 2022 to 2028 |
| base year | 2021 |
| Historic years | 2016 – 2020 |
| prediction years | 2022 – 2028 |
| covered slices | Type: B2C Retailers & Classifieds Application: Automotive, beauty and personal care, books and stationery, consumer electronics, apparel and footwear, home decor and electronics, sports and entertainment, travel and tourism, media and entertainment, information technology (software), and others |
| Quantitative data – units | Revenues in US$ Million/Billion and CAGR from 2022 to 2028 |
| Covered areas | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Countries covered | United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others |
| Report coverage | Market growth drivers, restraints, and opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Organizational Landscape, Market Attractiveness Analysis by Segments and Region, Company Market Share Analysis, and COVID-19 Impact Analysis. |
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