The global cross-border B2C e-commerce market size is expected to reach USD 5,154.16 billion by 2030 according to a new study by Polaris Market Research. The report “Cross-Border B2C E-Commerce Market Share, Size, Trends, Industry Analysis Report, By Category, By Payment Method (Digital Wallets, Credit/Debit Cards, Internet Banking, Others), By Offering, By End-User (Adults, Teenagers/Millennial, Senior Citizens, Others); By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growth networks of businesses that conduct paperless transactions and break down time barriers are the major factors that may accelerate the industry demand across the globe. Moreover, the rising use of digital banking platforms is another factor that leads to a rise in the growth outlook for B2C business across the world.
For instance: Mobile banking services observed a growth of 92% and 13% in volume and value terms, respectively, although the number of registered customers rose by 54% to 251 Billion at the end-March 2018 from 163 Billion at the end-March 2017, as per the Reserve Bank of India (RBI).
Based on the payment method, the credit/debit card segment dominates the global market with the highest revenue shares due to the rapid rise in the adoption of cashless payment modes.
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Global online shopping is developing rapidly with the emergence of the Internet. This development has shifted from traditional trading modes to advance mediums, and thus, B2C e-commerce is suitably efficient and facilitates fast transactions. Further, most transactions are completed over the Internet with an electronic payment characterized by crossing space-time and virality.
Thus, these inherent benefits offered by cross-border e-commerce will create a positive outlook for market growth. Furthermore, the rising diffusion of cross-border e-commerce as a new outline for cross-border trade is gaining attention from practitioners and firms interested in expanding their international transactions. As a result, this has become a key force to accelerate the market growth over the foreseen period.
Market participants such as eBay, Pinduoduo, Zalando, Alibaba/AliExpress, Lazada, Shopee, Amazon, Zooplus, ASOS, iHerb, and Shein are some key players operating in the global market.
Polaris Market Research has segmented the Cross-Border B2C E-Commerce market report on the basis of category, payment method, offering, end-user, and region:
Cross-Border B2C E-Commerce, Category Outlook (Revenue - USD Billion, 2018 - 2030)
Cross-Border B2C E-Commerce, Payment Method Outlook (Revenue - USD Billion, 2018 - 2030)
Cross-Border B2C E-Commerce, Offering Outlook (Revenue - USD Billion, 2018 - 2030)
Cross-Border B2C E-Commerce, End-user Outlook (Revenue - USD Billion, 2018 - 2030)
Cross-Border B2C E-Commerce, Regional Outlook (Revenue - USD Billion, 2018 - 2030)