B2C E-commerce Market Outlook 2031
The B2C e-commerce market size was valued at USD 4.40 Trillion in 2022 and is likely reach to USD 10.04 Trillion by 2031, expanding at a CAGR of 9.6% during the forecast period, 2023–2031. The growth of the market is attributed to the rising global per capita income, disposable income, and expanding internet penetration.
B2C e-commerce is a type of digital platform that provides products and services to the consumers directly from the businesses. Presently, e-commerce is becoming very popular due to the presence of a large number of consumers globally who are willing to adopt online system for various needs.
Digital revolution has supported B2C services in various industrial sectors and played a crucial role in day-to-day’s life of people worldwide.
Additionally, rising distribution and shipping organizations has fueled the global B2C e-commerce market. One key aspect of the rapid market expansion is due to several facilities such as various options of products available on the website and anyone can shop through these portals with the comfort of home.
Convenience is the major factor for overall online shopping industry. Customers have this facility to find their required products by visiting the website and gain extra insights on various products. The market is observing exemplar shift toward e-commerce due to customers increasingly using smartphones to purchase services and goods online.
The industry is comparatively secure and the competitiveness continues to be high due to mergers and acquisitions. The growing opportunities for tremendous growth of players and attracting large number of investors from several global giants are major factors that push to increase the market competition.
On the other hand, the companies are continuously making efforts to stand out themselves in the global competition by providing various product offerings with innovative services.
Market Trends, Drivers, Restraints, and Opportunities
- Rising technology adoption with the ease of availability has allowed the e-commerce sector to be more efficient and better geographical reachable. This is anticipated to boost the market growth.
- The growing use of social networks is further increased demand for online purchasing services and products. This is expected to propel the market expansion in the coming years.
- Offering easy access and convenience of shopping using online platforms and rapid increased in digital dependency are expected to drive the market growth.
- The COVID19 pandemic has scaled up B2C e-commerce platforms with a high demand for essential goods products from e-commerce services including personal care products, groceries, and bathroom essentials.
Scope of B2C E-commerce Market Report
The report on the global B2C e-commerce market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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B2C E-commerce Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (B2C Retailers and Classifieds) and Applications (Automotive, Beauty & Personal Care, Books & Stationery, Consumer Electronics, Clothing & Footwear, Home Décor & Electronics, Sports & Leisure, Travel & Tourism, Media & Entertainment, Information Technology, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Amazon.com, Inc.; Alibaba Group Holding Limited; ASOS Plc; Ebay. Inc.; MakeMyTrip Pvt. Ltd.; and Flipkart Internet Private Ltd.
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B2C E-commerce Market Segment Insights
B2C retailers segment is expected to grow at a rapid pace
Based on types, the global B2C e-commerce market is bifurcated into B2C retailers and classifieds. The B2C retailers segment is expected to grow at a rapid pace of the market due to increase in mobile transactions and internet banking.
However, the classifieds segment is projected to represent a substantial growth rate in the coming years owing to an increase in low cost of online advertising, mobile classifieds advertising, and decreasing the print advertising market.
Clothing & footwear segment is projected to expand at a considerable CAGR
On the basis of applications, the market is segmented into automotive, beauty & personal care, books & stationery, consumer electronics, clothing & footwear, home décor & electronics, sports & leisure, travel & tourism, media & entertainment, information technology, and others.
The clothing & footwear segment is projected to expand at a considerable CAGR during the forecast period owing to massive expansion of online apparel marketplace especially for clothes and footwear. Several retailers and manufactures are entering into partnership to enhance their goods sale using e-commerce sites.
On the other hand, the consumer electronics segment is anticipated to account for a major market share in the coming years due to increasing internet usage and the growing interest of consumers towards the new electronics products and trends.
B2C E-commerce Market Regional Outlook
Asia Pacific is anticipated to constitute a key market share
In terms of regions, the global B2C e-commerce market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
The market of Asia Pacific is anticipated to constitute a key share of the market during the projected period owing to increasing internet connectivity in second-tier cities & rural areas. Meanwhile, the market of North America is anticipated to expand at a rapid pace during the forecast period due to expanding internet penetration in the region.
Segments
Types
- B2C Retailers
- Classifieds
Applications
- Automotive
- Beauty & Personal Care
- Books & Stationery
- Consumer Electronics
- Clothing & Footwear
- Home Décor & Electronics
- Sports & Leisure
- Travel & Tourism
- Media & Entertainment
- Information Technology
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the B2C e-commerce market are Amazon.com, Inc.; Alibaba Group Holding Limited; ASOS Plc; Ebay. Inc.; MakeMyTrip Pvt. Ltd.; and Flipkart Internet Private Ltd.
The main market players are continuously engaged in various market development activities such as mergers, acquisitions, research & development, investments for innovative products, and collaborations to enhance their market position.
For instance, Amazon.com, Inc. declared a partnership with FICCI, a non-government, not-for-profit organization in March 2018, which presented a key aspect for the market expansion.
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