E-commerce Market Growth Trends, Research and Revenue Analysis, 2030
The global e-commerce market was valued at approximately USD 25.93 trillion in 2023 and is expected to grow significantly to reach around USD 83.26 trillion by the year 2030. This impressive expansion corresponds to a compound annual growth rate (CAGR) of 18.9% during the forecast period from 2024 to 2030. One of the primary driving factors behind this substantial market growth is the transformation in consumer purchasing behavior. Increasingly, consumers are leaning towards the convenience of online shopping, largely due to their busy lifestyles, limited time availability, and the overall ease and efficiency of the digital shopping process. These elements have collectively contributed to the growing popularity and adoption of e-commerce platforms. A pivotal factor enabling this shift is the widespread adoption of mobile technology. With a rising number of people using smartphones and tablets, mobile commerce has gained traction by offering users the convenience of...