Latest News- E-Commerce Market: Home appliances is expected to lead the Application segment during 2023-2027

The E-Commerce Market is being driven by Advantages of e-commerce platforms

The E-Commerce Market is expected to grow at a CAGR of 27.15% during 2022 and 2027. During this period, the market is also expected to show a growth of USD 12951.56 billion. In the dynamic realm of e-commerce, technological advancements have significantly impacted the home decor sector. Vendors have embraced innovations such as augmented reality (AR) and virtual reality (VR) to enhance the customer experience. For instance, IKEA's 2019 launch of a VR application enabled users to virtually experience their homes adorned with IKEA's home decor and furnishing products. By inputting room dimensions and selecting items from the catalog, consumers can virtually preview the colors and textures of products using their smartphones. This immersive shopping experience streamlines the decision-making process and boosts customer satisfaction. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Home appliances
  • Fashion products
  • Groceries
  • Books
  • Others
• Type
  • B2B
  • B2C
• Geography
  • APAC
    • China
    • Japan
  • North America
    • US
  • Europe
    • Germany
    • UK
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Advantages of e-commerce platforms
• Advanced targeting options
• Rise in online spending and smartphone penetration

However, the market also witnesses some limitations, which are as follows:

• Regulatory issues
• Increasing number of counterfeit products
• Long product replacement cycle resulting in infrequent purchases

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Market Scope in E-Commerce Market Research Report

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Research Analysis Overview

The e-commerce market experiences significant growth due to the increasing adoption of smartphones among the population, leading to increased browsing and online shopping for digital content in sectors like travel and leisure, financial services, and e-tailing. Technological awareness and connectivity enhance user experience, driving the adoption of online marketing tools such as Google ads and Facebook ads, as well as social media applications for communication and buying and selling goods and services. Established organizations and large enterprises leverage infrastructure and operational costs, including inventory costs, to compete in vertical and specialized marketplaces.

Market Research Overview

The global e-commerce market is a significant segment of the broader Internet and direct marketing retail market, encompassing revenue generated by businesses offering retail services primarily online. This market category includes income from Internet retailers, TV and movie merchandising services, third-party online retail platform providers, and door-to-door retailers. Technavio's market analysis covers companies providing consumer products and services through digital channels, such as travel and leisure, financial services, and e-tailing. Technological awareness and the increasing use of smartphones among populations worldwide fuel the growth of this market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/