Global B2C E-Commerce Market: Market Research by Knowledge Sourcing Intelligence
Global B2C E-Commerce market is projected to witness the growth at a CAGR of 13.64% during the forecast period to reach the total market size of US$3,950 billion in 2022, increasing from US$1,834 billion in 2016. The global market of E-commerce is largely driven by increasing usage of smartphones and desktop coupled with growing penetration of internet subscriptions across the globe. The ongoing improvement of ICT infrastructure in regions like Africa and South America provide numerous opportunities for the B2C E-commerce market to grow over the forecasted period. Other factors propelling the B2C E-Commerce market include increasing population base coupled with rising disposable incomes and rising living standard. In addition, easy availability of a diverse variety of products such as books, apparel, cosmetics among many others online largely contributes to market growth.
Penetration of mobile internet, bolstered by the combination of 3G and LTE rollouts, low cost smartphones, and an abundance of content, particularly applications, from over-the-top providers drives the M-Commerce growth. Per World Bank, the number of internet users and mobile cellular subscription has been on a persistent upward trajectory, cutting through markets across all regions, developed or developing from last 2 decades. This sudden upsurge is due to the hasty product innovation in the mobile industry coupled with increasing penetration of smartphones, tablets and other mobile platforms. The rising adoption and availability of E-Commerce provider’s mobile application propels M-Commerce growth while driving the B2C E-Commerce market growth.
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| Sample View of Global B2C E-Commerce Market Forecast, US$ Billion, 2017 To 2022 |
Global B2C E-Commerce market by Geography:
Americas B2C E-Commerce Market is projected to grow from US$XXX billion in 2017 to US$XXX billion in 2022 at a CAGR of XX% during the forecast period. The market is further segmented as North America and South America, with the latter growing at a higher CAGR during the forecast period. North America is expected to significantly contribute to the growth of global B2C e-commerce market due to high spending by consumers, rising m-commerce sales, and expansion of e-retailers in new applications like grocery in the region.
In South American countries, such as Brazil and Argentina, rising purchasing power and rapid urbanization, increasing number of smartphone users and growing use of social media is boosting the growth of B2C e-commerce market in the region. Advanced payments system in Brazil also supports this growth; the four largest international credit card networks- Visa, American Express, MasterCard, and Diners Club- are all used in Brazil along with the popular national networks such as Hipercard, Elo, and Aura.
Inclination of consumers in the region for both domestic and international travel provides lucrative opportunities for online travel agencies. Since Brazilian consumers are becoming tech-savvy, there has been a shift towards online booking of hotels and flights via smartphones, tablets and PCs instead of booking them from stores or agents, thereby positively impacting the growth of B2C e-commerce market in South America.
Geographically, global B2C E-Commerce market is segmented as Americas, Europe Middle East and Africa, and Asia Pacific. APAC region dominated the global B2C e-commerce market, in terms of value, in 2016 and will remain at its position till 2022.Rising disposable income and improving living standard is driving the demand global fashion brand products. Increasing penetration of mobile devices and internet subscriptions in emerging economies, rise in m-commerce sales, and advancement in shipping and payment options are other factors contributing significantly to the growth of APAC E-Commerce market. Growing commercialization of international brands via social media channels provides a great opportunity for brands like Zara, H&M, and GAP to tap the new emerging markets in this region. The market research provides a detailed analysis of global b2c e-commerce market on the basis of various segment like- by geography, by product etc.
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| Sample View of Global B2C E-Commerce Market Share by Geography |
Global B2C E-Commerce market by Product:
The market for apparel and accessories will grow at a CAGR of XX% during the forecast period to reach a total market size of US$XXX billion by 2022 from US$XXX billion in 2016. Increasing number of social media users worldwide is providing an opportunity to big market players to reach more customers on Facebook, Instagram, and Pinterest while promoting their apparel products online. There is a huge availability of wide variety of merchandise, price comparison features, and mobile apps favouring online retailing of apparel and accessories at discounted prices. Growing penetration of internet and focus of consumers toward comfort while shopping online is fuelling the demand for apparel stocks online.
By product, global B2C E-Commerce market is segmented as apparel and accessories, travel, electronics, books and music, health, and others. Apparel and accessories held the largest market share, in terms of value, in 2016 and will continue its dominance till the end of the forecast period due to the availability of wide variety of merchandise, price comparison features, and advanced mobile applications to make a new purchase instantly.Electronics segment will witness the fastest market growth during the forecast period with smartphones as the topmost consumer electronic PRODUCT to be purchased online. The availability of various consumer electronic items online such as smartphones, tablets, TV, music systems, and others at discounted price as against brick and mortar stores is constantly driving the B2C e-commerce market growth for electronics globally. Moreover, mobile companies like Samsung and OnePlus are officially engaging in partnerships with online stores such as Amazon to take care of their online buyers which is positively impacting the market growth. Growing demand for replacement of old TVs with discounted smart Ultra HD 4K units will also boost the sale of global TV industry via online retailing will also contribute to market growth in the coming years.
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Growing penetration of internet and focus of consumers toward comfort while shopping online is fuelling the demand for apparel stocks online.
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