Global Cross-Border B2C E-Commerce Market is expected to grow at CAGR 27.4% by 2029 owing to Growing Globalization Leading to Cross-Border Transactions in Goods: Says Absolute Markets Insights. The globalization, digital revolution and increasing penetration of internet has revolutionized the international trade of goods. The aforementioned factors have evolved and made business transactions easier and more effective, which not only has a positive impact on the business of companies but also contributed to the positive growth of the economic structure of nations. Globalization is also increasing the diversity and volume of cross-border transactions in products and services by rapid integration with technology. Additionally, the rise of e-commerce and globalization has altogether changed the consumption patterns of the consumer by providing them an efficient medium for cross-border purchasing. In addition, globalization is constantly enabling the companies to increase their customer base, and deal effectively with changing patterns in retail sales. Globalization is also benefiting the e-commerce sector across the globe to reduce the cost of the transaction along with efficient operating performance. Thus, the increasing globalization is among the major factors leading towards increased cross border transactions which is further driving the growth of cross-border B2C e-commerce market.
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The global Cross-Border B2C E-Commerce Market is witnessing a constant growth in the number of e-shoppers across the globe, which is expected to generate opportunities for market participants. In addition, the interest of e-shopper on purchasing products from specific brands which are not available in their country, is largely observed. The e-shoppers mainly prefer using the cross-border trade activities as it provides them with an opportunity to select from different products, have attractive offerings, coupled with better pricing. Additionally, fashion and electronics are the top demanding products from the e-shoppers, however, the other product categories, such as beauty & cosmetics, pet care, sporting goods, and food & beverages is expected to witness substantial demand from e-shoppers. Thus, e-shoppers are having a positive impact on the growth of the global cross-border B2C e-commerce market.
In terms of revenue, the global Cross-Border B2C E-Commerce Market stood at US$ 562.1 Bn in 2018 and is anticipated to reach US$ 4,856.1 Bn by 2029, expanding at a CAGR of 27.4% during the forecast period.
The detailed research study provides qualitative and quantitative analysis of the global cross-border B2C e-commerce market. The Cross-Border B2C E-Commerce Market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America
Key Findings of the Report:
- In terms of revenue, global Cross-Border B2C E-Commerce Market is expected to reach US$ 4,856.1 Billion by 2029 owing to growing international trade related activities in developing countries such as China and India.
- On the basis of category, healthcare and nutrition in global Cross-Border B2C E-Commerce Market is expected to grow exponentially over the forecast period.
- Based on the payment method, digital wallets in Cross-Border B2C E-Commerce Market is projected to hold largest market share over the forecast period owing to government initiative to promote digital transactions coupled with growing prevalence of fintech startups. However, internet banking is expected to register highest CAGR during forecast period.
- On the basis of end user, adults are expected to hold the largest market share owing to increase e-commerce shopping by them. However, senior citizens is expected to register highest CAGR during forecast period.
- Some of the prominent players operating in the global Cross-Border B2C E-Commerce Market include Amazon.com, Inc., eBay Inc., JD.com, Ali Express amongst others.
Global Cross-Border B2C E-Commerce Market
By Category
- Apparel and Accessories
- Entertainment and Education
- Consumer Electronics
- Home Furnishing
- Personal Care and Beauty
- Healthcare and Nutrition
- Footwear
- Food and Beverage
- Others
By Offering
- Brand Products
- In-house Brand Products
By Payment Method
- Credit/Debit Cards
- Digital Wallets
- Internet Banking
- Others
By End Users
- Teenagers/Millennial
- Adult
- Senior Citizens
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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