E-commerce Market Size To Reach $83.26 Trillion By 2030
E-commerce Industry Overview 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. 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 the...