Latest Study on “B2C E-Commerce Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2027”.
The global B2C E-Commerce market size is expected to be worth around US$ 7.01 trillion by 2027, according to a new report by nova one advisor.
The global B2C E-Commerce market size was valued at US$ 4.1 trillion in 2020 and is anticipated to grow at a CAGR of 10.0% during forecast period 2021 to 2027.
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The increasing disposable income level, escalating usage of internet and smartphones, and an increasing number of online shoppers are expected to drive the market growth. Online goods and service providers offer various options to their customers, such as vast product portfolio, discounted price rates, convenient payment methods, same-day delivery, and easy return policies while purchasing any goods or services, resulting in growing customer preference toward e-commerce platforms.
The General Agreement on Trade in Services (GATS) provides the rules and regulations governing international trade in services, with significant implications for e-commerce. The anti-Spam Law is placed to protect consumers from receiving unsolicited marketing material. Although online businesses collect information from consumers, they are legally prohibited to spam people’s inboxes without their consent. Technological advancement supported by increasing usage of Artificial Intelligence (AI) is providing customers with a real-time shopping experience. For instance, Augmented Reality (AR) technology offers customers ‘virtual changing rooms’ wherein customers can try a product virtually.
The rapid evolution of e-commerce has brought numerous opportunities to both nascent as well as established players in the market. However, online payment processes have witnessed few challenges in the recent past. The interconnected and instantaneous nature of online payment channels has increased vulnerability towards cybercrime, digital frauds, and other malpractices. To overcome these cybersecurity concerns, it is essential to emphasize service security and the protection of consumer’s data.
The market survey provides compelling insights into important drivers that enable growth. It highlights untapped potential in a variety of industries. For the purpose of the study, the market has been segmented in terms of Type, application And Region, and regions. The report presents an incisive view of various factors impacting growth across these categories. Challenges posing threat also are studied in detail.
Apart from underscoring unexplored prospects, the report is intended to prepare businesses for unforeseen challenges in the future. It covers recommendations to help them navigate their businesses through obstacles to continue reporting growth at a sustainable pace.
B2C E-commerce Market Report Highlights
- The market is anticipated to witness substantial growth during the forecast period, owing to the augmented use of smartphones and the increasing use of social media, among others
- The clothing and footwear segment accounted for the largest market share in 2020, owing to increasing penetration of retail sales over online channels, accessories, and footwear spending
- Asia Pacific dominated the market in terms of revenue in 2020 and is expected to register significant growth over the forecast period. The growth is attributed to the presence of a large number of B2C e-commerce providers in the region
- Partnership, collaboration, and business expansion remain the major strategies adopted by the leading market players
B2C E-commerce Market Report Coverage
|Market Size||USD 7.01 trillion by 2027|
|Growth Rate||CAGR of 10.0% From 2021 to 2027|
|Forecast Period||2021 to 2027|
|Historic Data||2017 to 2020|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Type, application And Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||ALIBABA GROUP HOLDING LIMITED; Amazon.com, Inc.; eBay. Inc.; ASOS; Flipkart Internet Private Limited; MakeMyTrip Pvt. Ltd.|
COVID-19 Impact on B2C E-Commerce Sales
Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the B2C E-Commerce market.
Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
Against this backdrop, Nova one advisor’s study predicts gradual recovery for the B2C E-Commerce market 2021 onwards. This trend will however continue through the course of the report’s assessment period
Emerging Nations to Continue Attracting Investments :
The expansion of various industries across India, China, Brazil, and other emerging countries will help the B2C E-Commerce market flourish. Consistent investment towards industrialization and urbanization, as well as the implementation of policies favouring foreign investment, will continue to be major growth drivers.
Expansion initiatives undertaken by various countries will aid the growth of the B2C E-Commerce market. Besides, the easy availability of raw materials and labours at a cheaper cost will attract an increasing number of companies within the B2C E-Commerce market.
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Asia Pacific accounted for the largest revenue share of 38.02% in 2020 and is expected to retain dominance over the forecast period. The region accounts for nearly two-thirds of the global population and economic development-with China and India at the forefront-remain key regional growth drivers. The growth is attributed to the increasing internet connectivity in second-tier cities & rural areas. The untapped market in this region acts as a popular destination for international brands and web shoppers around the world.
North America and Europe regions are positioned to witness steady growth over the forecast period. North America has one of the highest rates of internet penetration in the world. U.S. consumers are specific about product quality, composition and price, thereby fueling their adoption of foreign brands and products. MEA and Latin America are expected to register considerable growth during the forecast period. Middle East has a dynamic young population with one of the highest global per capita income. In addition to it, expanding internet penetration is driving the rapidly evolving shopping e-commerce industry in the region.
Some of the prominent players in the B2C E-commerce Market include: ALIBABA GROUP HOLDING LIMITED; Amazon.com, Inc.; eBay. Inc.; ASOS; Flipkart Internet Private Limited; MakeMyTrip Pvt. Ltd.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
- By Type
- B2C Retailers
- By Application
- Beauty & Personal Care
- Books & Stationery
- Consumer Electronics
- Clothing & Footwear
- Home Décor & Electronics
- Sports & Leisure
- Travel & Tourism
- Media & Entertainment
- Information Technology (Software)
The regional segmentation covers:
-North America Region (U.S., Canada, Mexico)
-Europe Region (Germany, UK, France, Russia, Italy, Rest of Europe)
-Asia-Pacific Region (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
-South America Region (Brazil, Argentina, Columbia, Rest of South America)
-The Middle East & Africa Region (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
Key Findings of the B2C E-Commerce Market Study
- Backed by the presence of well-established industrial infrastructure and willingness to spend on advanced technologies will strengthen North America’s hold in the global market.
- The Europe market will continue gaining from surging demand in Germany, U.K., Italy, France, and Spain.
- Investment towards industrialization and favourable policies intended at encouraging foreign investment will drive growth in India and China, sealing Asia Pacific’s position as a highly lucrative market for B2C E-Commerce.
- In Latin America, the market will gain from surging focus on economic development.
Why Buy this Report?
The purpose of Nova one advisor’s B2C E-Commerce market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.
Some of the key highlights of the report are:
- B2C E-Commerce Market Demand Outlook – The report offers refined forecasts on potential growth prospects for the market. Based on data derived after thorough research by a team of expert analysis, Nova one advisor presents the most precise rate of growth for the market for the assessment period starting from (start year) to (end year).
- B2C E-Commerce Supply Chain Analysis – The purpose of the survey is to help companies identify potential scope for supply chain expansion. The study also presents analysis of unprecedented threats.
- Key Market Segments – To present an exhaustive overview, the global B2C E-Commerce market is segmented in terms of Type, application And Region, and region. Opportunities existing across each of these categories are reflected on to help businesses realize their true potential.
- Competitive Landscape Analysis – Some of the leading companies operating in the B2C E-Commerce market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.
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