According to a recent research report titled ‘Global E-commerce Market Size study, by Model Type (Business-to-Business (B2B), Business-to-Consumer (B2C)) and Regional Forecasts 2020-2027’, available with Market Study Report, global e-commerce market size was valued USD 9 trillion in 2019 and is projected to grow at a annual growth rate of 14.7% during the forecast period 2020-2027, subsequently crossing USD 27 trillion by the end of the forecast timeframe.
 

Global e-commerce market growth is largely fueled by rising penetration of internet and smartphones in both developed and developing nations. Moreover, growing importance of online marketing tools like Google ads and Facebook ads, along with proliferating number of small and medium size enterprises leveraging online solutions for business operations is adding considerable momentum to the industry expansion.
 

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Notably, e-commerce mostly involves purchasing and selling of goods & services, or transacting funds or data, over the internet. These can be carried out over smartphones, computers/laptops, tablets using a digitized version of mail-order catalog shopping. E-commerce makes a wide range of goods or services available to the customers, including books, music, general consumer products, flight tickets, and financial services. E-commerce falls under two types of business models, namely, business-to-business (B2B), and business-to-consumers (B2C).
 

Speaking of the factors hindering global e-commerce market progression, privacy and security concerns, along with lack of technical infrastructure in underdeveloped countries and rural areas are negatively impacting the overall remuneration scope.
 

From a geographical perspective, North America, Latin America, Asia Pacific, and Europe are the key contributors to global e-commerce market value. Among these, APAC captures majority industry share, creditable to presence of a large number of internet users, and high concentration of market players in the region. Besides, shifting preference towards B2B e-commerce platforms, and escalating number of e-commerce transactions across developing countries such as India and China are expected to present new growth opportunities for APAC market in the upcoming years.
 

Top competitors in global e-commerce industry sphere are Suning Commerce Group Co., Ltd., Otto Group, Macy's, Inc., JD.com, Inc., Gome Electrical Appliances Holdings Ltd., Flipkart Pvt. Ltd., Dell Technologies, Inc., Apple, Inc., Amazon.com, Inc., and Alibaba Group Holding Ltd.