Market Trends

Asian Markets Embrace the Digital Wave: Ecommerce Projected to Topple $5 Trillion by 2027

DUBLIN, March 4, 2024 /PRNewswire/ -- In the latest significant update to bolster the compendium of market intelligence, the "Asia Pacific Ecommerce Market Opportunities Databook - Q2 2023 Update" has been incorporated into ResearchAndMarkets.com's diverse offering. This extensive report, accessible at Research and Markets, is an essential resource packed with over 100 key performance indicators (KPIs) sprawled across varied ecommerce verticals.

Insightful Statistics to Guide Market Strategies

The databook contains a treasury of statistics and evolving trends across different e-commerce spheres, such as shopping, travel, food service, media, entertainment, and technology. Decision-makers and analysts will find the detailed assembly of data pivotal in demystifying the complex dynamics of market shares by key players, the efficacy of sales channels, payment instruments, and a dissection of consumer demographics.

The meticulously researched data pinpoints an anticipated annual growth rate of 3.41% for the year 2023, setting the stage for the Asia Pacific Ecommerce sector to reach an impressive valuation of US$3,987.3 billion.

A Comprehensive Review of Ecommerce Growth and Innovations

This data-driven publication highlights:

• A robust Composite Annual Growth Rate (CAGR) of 6.39%, foreseen from 2023 through 2027, which signals continued economic vitality in the Asia Pacific Ecommerce market.
• The predicted growth in gross merchandise value from US$3,855.8 billion in 2022 to a staggering US$5,108.8 billion by the year 2027.
• Notable market expansion powered by Tier II, III, and IV cities, especially within populous nations such as India.
• The market's agility in weathering macroeconomic shifts and evolving regulations, with particular attention to the resilient Chinese online commerce space.

In the dossier, attention is also given to burgeoning market phenomena, including the adoption of live streaming sales platforms and burgeoning cross-border transactions. Additionally, a spotlight is cast on the balance of market share among mobile and desktop platforms, emphasizing mobile commerce's burgeoning dominance.

Global Ecommerce Trends and Consumer Behavior Analysis

Examining the Ecommerce Market Composition

The databook provides an exhaustive analysis of the market's size and its segmentation dynamics. Within its pages, one can find country-specific, data-focused evaluations aggregated into 14 comprehensive reports.

This analysis features vivid images of how ecommerce market shares are divided among leading figures in retail shopping, travel, and food service verticals.

Unlocking Market Opportunities and Consumer Preferences

A critical component of success in the digital marketplace is a deep understanding of the varied and evolving preferences of digital consumers. This databook reveals critical insights into opportunities segmented by ecommerce categories. It also serves up market-specific strategies distilled from comprehensive examinations, global trends, and consumer data on attitudes and buying behaviors.

This strategic intelligence is instrumental, allowing enterprises to chart the uncertain waters of digital commerce. This is particularly relevant in the Asia Pacific region, where digital ecosystems are evolving at breakneck speeds, and consumer onboarding is seeing exponential growth.

Corporate Landscape in the Ecommerce Arena

Within the extensive list of key players in the panorama of Asia Pacific's ecommerce, the report mentions industry giants and emerging platforms alike, ranging from travel booking services to food delivery companies. Here is a glimpse into the diversity of players that are shaping the future of online commerce in this dynamic market:

• Agoda, Airasia Food, Alibaba's 1688, Amazon, Baedal Minjok, Baemin, BeTaxi, Bobobox, Booking.com
• Bungkusit, Cebu Pacific, Central, Chaldal, CheapOair, Coles, Comfort Taxi, Coupang, Coupang Eats
• Daojia, Daraz, Deliveroo, Demae-Can, Didi Chuxing, DiDi Mobility, DMM.com, Domino's, Doordash
• Easybook, Eatigo, eBay, Ele.me, Evaly, Expedia, Faasos, Fine Dine, Firefly, Flipkart, Food Panda
• Gmarket, GoFood, Goibibo, GoJek's Go-Food, Grab Food, Grab Taxi, Grain, Happy Fresh, Homeshopping
• Interpark, Jalan, JD.com, JD.id, Jollibee, Kaidee, Kakao Taxi, Kayak, Kmart, Kulina, Lazada
• Line Man, Line Taxi, 11Street, Lux Group, MakeMyTrip, Mc Delivery, Meituan Waimai, Menulog
• Mercari, MetroDeal, MiCab, Mobile World Group, MyCar, Myer, Myntra, MyRealTrip, Naheed Super Market, Carousell
• Naver Shopping, Ola, OpenTable, PakWheels, PegiPegi, Pickaboo, Pickaroo, Pizza Hut, Qoo10
• Qunar, Rakuten, Sephora, Shebah, Sherpa's, Shopee, Shophive, Shuttle Food Delivery, Snapdeal,
• Swiggy, TADA, Taobao, Tiket.com, Tiki, Tmall, TMAP Taxi, Tokopedia, Tongcheng Travel, Traveloka
• Trivago, Uber, Uber Bukalapak, Uber Eats, Wahyoo, Webjet, Daraz Bangladesh, Wego, WhyQ, Wolt
• Woolworths, Xiaohongshu, Yahoo! Shopping, Yanolja, Amazon, Yidao Yongche, Ajio, Yogiyo, Zalora, Zameen, Zomato

For further detailed information regarding this exceptionally in-depth report, interested parties can visit Research and Markets comprehensive report.

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SOURCE: Research and Markets

The comprehensive insights within the "Asia Pacific Ecommerce Market Opportunities Databook" portray a vibrant digital commerce landscape teeming with innovation, growth, and diversity. The in-depth analysis and projections serve as navigational beacons for business strategists and market enthusiasts looking to capitalize on this bustling sector. As the Asia Pacific market continues to thrive and redefine the contours of global ecommerce, understanding these dynamic currents is more critical than ever.

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