Cross Border E-commerce Market Size to Reach USD 1,519.9 Billion by 2032 | CAGR: 15.6% | DataHorizzon Research
Fort Collins, Colorado, Sept. 07, 2023 (GLOBE NEWSWIRE) — DataHorizzon Research Published a report titled, “Cross Border E-Commerce Market Size, Growth, Share, Statistics Report, By Type (B2B, B2C, C2C) By Payment Method (Digital Wallets, Credit/Debit Cards, Internet Banking), By Category, By Deployment Mode (Assorted, Inhouse), By Region, And Segment Forecasts, 2023-2032.”
According to DataHorizzon Research, The cross-border e-commerce market size was valued at USD 358.7 Billion in 2022 and is expected to reach USD 1,519.9 Billion by 2032 with a CAGR of 15.6%. The pandemic has revolutionized businesses’ operations, allowing them to expand their reach beyond their local area. The B2C e-commerce market, particularly the cross-border segment, has experienced a remarkable surge in growth due to the increasing popularity of online shopping, widespread access to the Internet and mobile phones, and the emergence of digital payment methods. With these developments, businesses can tap into a wider customer base and succeed in the competitive global market.
With technological advancements, businesses can now reach international customers through e-commerce. International payment options have expanded, making it feasible to buy items from stores thousands of miles away with just a tap on the phone. Also, shipping and logistics have improved, ensuring secure and timely deliveries. As a result, businesses can now dab into the power of cross-border e-commerce to expand their reach, analyze new markets, and connect with a broader audience by accepting cross-border payments. Technological advancement has undoubtedly impacted the world, allowing people to bridge geographical distances and foster close connections.
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Cross Border E-Commerce Market Report Highlights:
- Cross Border E-Commerce Market share is anticipated to reach a CAGR of 15.6% by 2032. Some products may have low domestic demand but high international demand. Cross border e-commerce market has increased the chance of selling slow-moving or outdated inventory while providing businesses insight into consumer preferences in other regions.
- The credit/debit cards segment dominates the market based on payment methods.
- The popularity of online shopping has boosted the clothing and accessories market. People are increasingly importing accessories from foreign markets, fueling growth in this segment.
- The assorted segment dominates the market which offers a wide variety of products. Customers are attracted to the global availability of various options, enabling them to shop according to their preferences and contributing to the segment’s growth.
- Some of the prominent players in the market are Amazon.com, Inc., Alibaba Group Holding Limited, eBay Inc., ASOS, Jingdong JD.com, Fruugo.com Ltd., Veepee, Rakuten, SIA Joom (Latvia), Zalando.
Report Snapshot:
| Report Title | Cross Border E-Commerce Market |
| Market Size in 2022 | USD 358.7 Billion |
| Market Size by 2032 | USD 1,519.9 Billion |
| CAGR from 2023 to 2032 | 15.6% |
| Largest Market | Asia Pacific |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, estimations, competitor analysis, trends, and growth factors |
| By Type | B2B, B2C, C2C |
| By Payment Method | Digital wallets, credit/debit cards, internet banking |
| By Category | Apparels & accessories, consumer electronics, home furnishing, healthcare & nutrition, food & beverages, personal care, others |
| By Offering | Assorted, Inhouse |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S.A, Canada, U.K., Germany, France, China, Japan, India, Brazil, Mexico, UAE, Saudi Arabia, and South Africa. |
| Major Market Players | Amazon.com, Inc., Alibaba Group Holding Limited, eBay Inc., ASOS, Jingdong JD.com, Fruugo.com Ltd., Veepee, Rakuten, SIA Joom (Latvia), Zalando. |
Segmentation Overview:
The cross border e-commerce market has been segmented based on product type, payment method, category, and offering. Based on the payment method, with the widespread acceptance of credit and debit card payments, the e-commerce market has become more accessible. Excitingly, Blockchain technology enhances security and further fuels the segment’s growth. Moreover, customers are reaping the rewards of exclusive benefits and perks for using their credit and debit cards. Based on current trends and projections, this particular market can experience continued growth and success in the foreseeable future.
Asia Pacific dominated the global market, likely due to its large consumer base driving market development. Additionally, the growing trade relations between regional nations are expected to bring great opportunities for market growth.
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Key Developments in the Cross Border E-Commerce Market:
- Rakuten Group, Inc. is set to launch its newest digital comic book distribution service, R-Toon. Users can access original digital comic titles on this service, with the comics scrolling vertically. One chapter is available to read daily for free, and extra chapters can be bought as desired. Rakuten has collaborated with Shonengahosha Co., Ltd., Straight Edge Inc., and Nitroplus Co., Ltd. to produce and release new titles for R-Toon.
- Certilogo, based in Milan, utilizes digital technology to aid brands and designers in managing their clothing’s lifecycle. Consumers can easily interact with their desired brands and fashion items, receive reliable product information, authenticate products, and promptly activate circular services. Michele Casucci, the CEO of Certilogo, will remain in charge.
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Cross Border E-Commerce Market Segmentation:
Cross Border E-Commerce Market, By Type (2023-2032)
- B2B
- B2C
Cross Border E-Commerce Market, By Payment Method (2023-2032)
- Digital Wallets
- Credit/Debit Cards
Cross Border E-Commerce Market, By Category (2023-2032)
- Apparels & Accessories
- Consumer Electronics
- Home Furnishing
- Healthcare & Nutrition
- Food & Beverages
- Personal Care
Cross Border E-Commerce Market, By Region (2023-2032)
- North America
-
- U.S.
- Canada
- Europe
-
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
-
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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