The global e-commerce market size was estimated at USD 25.93 trillion in 2023 and is projected to grow at a CAGR of 18.9% from 2024 to 2030. Changes in the purchasing habits of consumers have significantly facilitated the expansion of e-commerce. Due to time constraints, a need for a smooth shopping process, and the ease of online buying, consumers increasingly select the digital marketplace. With the increasing use of smartphones and tablets, mobile technology especially has been essential in allowing customers to buy seamlessly from any location.

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In addition, the development of encryption technology and safe payment gateways has increased customer trust and promoted electronic transactions. The development of social media platforms has had a major effect on online shopping. Social media is an effective tool for marketing because it lets companies interact with their target market, highlight their goods, and increase traffic to their e-commerce websites.

Economic considerations such as financial resources and overall financial stability have a significant impact on the market. Consumers are more inclined to spend during periods of expansion in the economy, and businesses might witness higher demand for internet-based products. AI-powered chatbots, predictive analytics, and digital assistants have also become essential components of e-commerce customer care. These intelligent solutions offer real-time assistance, answer consumer queries, and aid in the buying decision-making process, thereby improving the entire customer experience.

Voice commerce emerged with the rise of voice-activated virtual assistants such as Amazon.com, Inc. Alexa, Microsoft Cortana, Apple Inc's Siri, Sony Xperia Hello, and Google Assistant. Voice-activated features are being integrated into e-commerce platforms, allowing users to browse for goods, place orders, and monitor shipments using voice queries. Voice commerce makes buying easier and simpler for consumers, particularly while doing it hands-free.

5G networks' lower latency makes real-time interactions possible, which makes events such as virtual shopping marketplaces and live broadcasting of new product launches more realistic. By utilizing 5G technology, e-commerce platforms can deliver superior multimedia content, improve mobile shopping experiences, and integrate new technologies that demand dependable and low-latency connectivity. To protect consumer data and stop illegal access, advanced encryption techniques, biometric authentication, and secure payment channels are crucial. E-commerce sites make significant investments in cybersecurity to preserve sensitive data and gain customers' trust, creating a safe atmosphere for online purchasing.

Key E-commerce Company Insights

• Amazon.com, Inc. is a worldwide technology and e-commerce firm where it offers a wide range of products such as consumer electronics, apparels, and groceries among others. Adding on the media and entertainment segment includes Amazon Music, Amazon Prime Video, Amazon Virtual Assistant among others.

• Alibaba.com is wholesale marketplace where it covers a wide range of services E-commerce, logistics, finance, and entertainment. The company’s product categories comprise of consumer electronics, home & garden, beauty, sports & entertainment, medical devices, apparel, and accessories among others.

• Zalando is an online fashion platform where customers can shop from a variety of categories, offering an overall shopping experience. The company’s product categories include clothing, shoes, accessories, streetwear, and sportwear. Zalando customers have marked its presence in Germany and other parts of the European markets.

• Shopee is an online shopping platform marking its presence across Southeast Asia, such as Thailand, Singapore, Indonesia, and Malaysia, among others. The platform utilizes the use of data analytics and AI to enhance its offerings and customize recommendations according to client requirements.

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• The global wireless gigabit market size was valued at USD 30.2 million in 2023 and is projected to grow at a CAGR of 26.3% from 2024 to 2030. The rising demand for high-speed wireless connectivity and the increasing integration of interconnected devices across several sectors is driving the market growth for wireless gigabit (WiGig).

• The global 5G NTN market size was valued at USD 5.76 billion in 2023 and is expected to grow at a CAGR of 33.5% from 2024 to 2030. The rising adoption of a software-centric approach is a significant factor contributing to the growth of the market.

E-commerce Market Segmentation

Grand View Research has segmented the global e-commerce market based on model type, product, and region:

E-commerce Model Type Outlook (Market Value, USD Billion, 2018 - 2030)
• Business To Business (B2B)
• Business To Consumer (B2C)
• Consumer To Consumer (C2C)

E-commerce Product Outlook (Market Value, USD Billion, 2018 - 2030)
• Automotive
• Beauty & Personal Care
• Books & Stationery
• Consumer Electronics
• Home Appliances
• Clothing & Footwear
• Healthcare
• Others

E-commerce Regional Outlook (Market Value, USD Billion, 2018 - 2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
• Latin America
o Brazil
o Argentina
• Middle East and Africa (MEA)
o UAE
o KSA
o South Africa

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Key Companies profiled:
• Amazon.com, Inc.
• Alibaba.com
• ASOS
• Costco Wholesale Corporation
• Dangdang
• eBay Inc.
• Flipkart.com
• JD.com
• Lazada
• MercadoLibre S.R.L.
• Shopify
• Shopee
• Walmart
• Wayfair LLC
• Zalando 

Recent Developments

• In February 2024, Wix, a software company, partnered with Global-e Online to facilitate cross-border eCommerce directly to consumers. The collaboration offers Wix merchants a solution for selling across borders. This partnership enhances Wix’s eCommerce features, empowering sellers to grow their businesses through access to Global-e's international services and offering them the chance to break into and sell in new markets.

• In November 2023, Amazon.com, Inc. and West Bengal Industrial Development Corporation (WBIDC) signed a Memorandum of Understanding (MoU) to increase West Bengal exports. Through this collaboration, the focus would be on leveraging Amazon.com, Inc's platform to foster and accelerate the export of merchandise from West Bengal organizations.

• In October 2023,Flipkart.com Flipkart launched the 'Flipkart Commerce Cloud,' a retail intelligence service for international retailers and e-commerce firms. This initiative aims to deliver complete retail intelligence and AI-driven services tailored to the specific needs of retail organizations. The platform provides a variety of solutions that improve the capabilities of merchants and e-commerce businesses across the globe.

• In June 2023, techstars and eBay Inc. have announced a strategic partnership that will result in the introduction of "techstars Future of Ecommerce powered by eBay Inc." Through this partnership the firms aimed to capitalize on both organizations' strengths to stimulate innovation and support companies in the ecommerce sector. The program, supported by eBay Inc., will empower developing entrepreneurs with guidance, tools, and opportunities to shape the future of e-commerce.