New York, United States , May 29, 2023 (GLOBE NEWSWIRE) -- The Global Cross-Border B2C E-Commerce Market Size is to grow from USD 893.95 Billion in 2022 to USD 8,138.31 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 24.7% during the projected period.
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Cross-border B2C e-commerce refers to the sale of products or services across international borders via a digital platform. Unlike the traditional consumer products sector, e-commerce can penetrate revolutionary and emerging areas with relatively little investment. Because of the Internet's accessibility and appeal among consumers, as well as the advancement of information technology (IT), e-commerce has gained traction in the global economy. Furthermore, changes in customer purchasing patterns around the world have pushed enterprises to actively pursue e-commerce choices. Furthermore, the global increase in online sales volume has placed a significant strain on global supply chains. As a result, a number of manufacturers, logistics firms, and other distribution channels have emerged to fill the supply chain gaps of e-commerce transactions both locally and globally.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on “Global Cross-Border B2C E-Commerce Market Size, Share, and COVID-19 Impact Analysis, By Payment Method (Digital Wallets, Credit/Debit Cards, Internet Banking, Others), By Offering (In-house Brands and Assorted Brands), By Category (Apparel & Accessories, Food & Beverage, Entertainment & Education, Healthcare & Nutrition, Consumer Electronics, Home Furnishing, Personal Care & Beauty, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here
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The digital wallets segment is dominating the market with the largest revenue share over the forecast period.
On the basis of payment methods, the global cross-border B2C e-commerce market is segmented into digital wallets, credit/debit cards, internet banking, and others. Because of the increasing popularity of online payments, the digital wallet segment is dominating the market with the highest revenue share of 48.6% over the forecast period. The bulk of consumers are becoming cashless and making payments with digital wallets. The introduction of international B2C payment channels through digital wallets is expected to drive the market even further.
The assorted brands segment is witnessing significant CAGR growth over the forecast period.
On the basis of offering, the global cross-border B2C e-commerce market is segmented into in-house brands and assorted brands. Among these, assorted brands are witnessing significant CAGR growth over the forecast period. This growth could be attributed to the diverse selection of products offered to consumers in the cross-border e-commerce sector. As a result, a diverse choice of product lines is now available globally, inviting consumers to buy based on their preferences.
The apparel & accessories segment accounted for the largest revenue share of more than 32.7% over the forecast period.
On the basis of category, the global cross-border B2C e-commerce market is segmented into apparel & accessories, food & beverage, entertainment & education, healthcare & nutrition, consumer electronics, home furnishing, personal care & beauty, and others. Among these, discrete industries are dominating the market with the largest revenue share of 32.7% over the forecast period. The surge in worldwide economic activity has raised the demand for online apparel and accessory purchases through e-commerce platforms, which is expected to drive segment growth.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 38.7% market share over the forecast period, owing to the region's enormous demographic. The increasing use of smartphones and increased internet connectivity in emerging nations contribute to the massive cross-border B2C e-commerce market share. The industry's growth is also aided by rising disposable income, rapid urbanization, and rising living standards. On the other hand, North America is predicted to expand the fastest during the forecast period. This expansion is the result of increased demand for low-cost premium items. During the forecast period, the Europe market is expected to rise at a significant CAGR.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Cross-Border B2C E-Commerce Market include eBay Inc., ASOS, Jingdong JD.com, Fruugo.com Ltd., Apple Inc., BoxMe, Joybuy.com, Fruugo.com Ltd., Veepee, Rakuten, Anchanto Pte. Ltd., pinduoduo.com, SIA Joom (Latvia), Zalando, DHL Group, Amazon.com, Inc., Alibaba Group Holding Limited, Deutsche Post DHL Group, and among others.
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Recent Developments
On March 2023, Shiprocket X, a Shiprocket cross-border shipping product, recently revealed a collaboration with eBay, a worldwide e-commerce leader, to deliver cross-border e-commerce solutions for Indian SMEs. The collaboration seeks to give Indian eBay sellers with cost-effective and seamless cross-border shipping solutions by merging 'eBay Global Shipping' (EGS) and Shiprocket X.
In October 2022, Aramex PJSC, a leading global provider of comprehensive logistics and transportation solutions, announced the completion of its acquisition of Access USA Shipping, LLC ("MyUS"), a global technology-driven platform that enables cross-border e-Commerce, for an all-cash purchase price of approximately USD $265 million. The acquisition will help Aramex's cross-border express business by increasing cargo volumes, extending and diversifying its customer base, and expanding coverage to new origins and destinations.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Cross-Border B2C E-Commerce Market based on the below-mentioned segments:
Cross-Border B2C E-Commerce Market, Payment Method Analysis
- Digital Wallets
- Credit/Debit Cards
- Internet Banking
- Others
Cross-Border B2C E-Commerce Market, Offering Analysis
- In-house Brands
- Assorted Brands
Cross-Border B2C E-Commerce Market, Category Analysis
- Apparel & Accessories
- Food & Beverage
- Entertainment & Education
- Healthcare & Nutrition
- Consumer Electronics
- Home Furnishing
- Personal Care & Beauty
- Others
Cross-Border B2C E-Commerce Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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