China and US to Rule the E-Commerce Market over the Years

  • Published Date : Nov 2019

Advancements in technology and innovation have paved news ways for E-commerce in today’s era. E-commerce of products is a method where buying and selling of goods & services are carried out electronically with the use of devices linked together over internet protocols and standards.

Globally, e-commerce is a strongly growing domain since the past few years and is anticipated to grow robustly over the years. Today, it has huge options for investments and new businesses, and is further expected to bring forth custom development methods, technology, and increased competition.

Key benefits of trading online, globally!

There are a number of factors that drive the growth of the e-commerce market. Trading online has immense benefits that are attracting manufacturers to trade online.

  • E-commerce of products gives organized and central trading
  • It has access to a wide range of consumers and a wide reach to sell and buy products across the globe.
  • High trading volume can easily be operated
  • Additionally, trading online deals with quality and standardized products.

The major two trends that surge the market:

- M-commerce

- E-commerce of retail sales

Amazon: the global leader in the e-commerce market

The market for e-commerce is moderately fragmented with a few large players dominating the market. Key players in the market include Amazon, JD.com, Alibaba, Apple and Walmart. Amazon accounted for the largest e-commerce market in 2018 owing to the highest growth from food and personal care segment. Further, rise in disposable incomes and growth in internet penetration in emerging markets are some major key factors witnessing the market demand.

<China will rule the market, followed by United States

North America (USA & Canada) has about 1.3 million e-commerce companies, in 2017. The growth in North America is mainly driven by increasing online retail sales in the U.S. On the other hand, China and the US will account for the largest e-commerce sales in 2017, representing almost 70% of global e-commerce. While e-commerce in the US will grow by 15%, the Asia-Pacific is likely to have a 30% growth rate over the forecast period. The Asia Pacific is expected to witness a significant growth due to high mobile commerce sales. Meanwhile, China accounts for the largest share in the Asian region.