B2C E-Commerce Market Overview
The global B2C e-commerce market size is estimated at USD 3,151.2 billion in 2019 as per a new research report by Confianza Market Research. The market is expected to reach a market size of USD 10,252.2 billion by 2030, growing at a CAGR of 10.9% over the forecast period. The growth is attributable to increasing disposable income in developing countries, growing per capita income, rising penetration of smartphones & the internet worldwide.
Digital marketing techniques such as social media marketing, influencer marketing, affiliate marketing & huge product discount compared to traditional brick & mortar stores is expected to boost the market demand exponentially over the next decade. The growing number of Millennials has a significant impact on the B2C e-commerce industry growth, and most of the market players are targeting them in order to gain greater market share.
The improvement in network coverage due to 4G connectivity has enabled faster internet connectivity in most of the major countries worldwide. The mobile e-commerce applications are slowly capturing the market in almost every product segment. The clothing, electronics & cosmetics are major industries adopting e-commerce platforms. Ecommerce offers ease of shopping, secure payment, easy return of products thus are becoming a popular choice for shopping day by day. Most of the major commerce companies such as Ikea, Walmart have moved to the online platform recently, many others are expected to follow sooner or later. No doubt the e-commerce is the future of commerce.
Companies such as Amazon, Flipkart, and Alibaba are acting as a vendor aggregator, providing their platform for selling to major vendors worldwide. Companies are focusing on adopting technologies such as Artificial Intelligence (AI), augmented reality & chatbots for improving the buyer’s shopping experience. The United States is the largest market for e-commerce globally.
B2C E-commerce Market Segmentation
B2C E-commerce Type Insights (Revenue in USD Billion, 2017-2030)
- B2C Retailer
B2C E-commerce Application Insights (Revenue in USD Billion, 2017-2030)
- Automotive & Transportation
- Beauty & Personal Care
- Books & Stationery, Consumer Electronics
- Clothing & Footwear
- Home Décor
- Industrial & Science
- Sports & Leisure
- Travel & Tourism
B2C E-commerce Regional Insights (Revenue in USD Billion, 2017-2030)
- North America
- The U.S.
- The U.K.
- Asia Pacific
- South Korea
- Latin America
- South Africa