Asia-Pacific E-Commerce Market, By Product Type (Business to Consumer (B2C), Business to Business (B2B), Customer to Business (C2B) and Customer to Customer (C2C)), Platform (Open-Source, Software as a Service (SaaS) and Headless Commerce), Hosting Environment (Cloud and On-Premise), Category (Goods and Services), Distribution Channel (Pure Clicks and Brick -and Click or Click-To-Brick), Purchased Device (Mobile Devices, Computer and Tablets), Payment Solutions (Third-Party Payments, Credit Cards, Debit Cards, Bank Transfers, Cash Vouchers, Cash on Delivery and Others) – Industry Trends and Forecast to 2030.
Asia-Pacific E-Commerce Market Analysis and Size
E-commerce is the purchase and sale of goods or services over the internet and the transfer of money and data to complete the transaction. It is also referred to as e-commerce or internet commerce. E-commerce is frequently used to refer to the online sale of physical products, but it can also refer to any commercial transaction that is facilitated by the internet. Asia-Pacific is being highly penetrated by the adoption of the usage of mobile e-wallets and rising preferences for online shopping.
Data Bridge Market Research analyses that the Asia-Pacific e-commerce market was valued at USD 2,980.11 billion in 2022 and is expected to reach USD 6,146.36 billion by 2030, registering a CAGR of 19.20% during the forecast period of 2023-2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behavior.
Asia-Pacific E-Commerce Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015- 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Business to Consumer (B2C), Business to Business (B2B), Customer to Business (C2B) and Customer to Customer (C2C)), Platform (Open-Source, Software as a Service (SaaS) and Headless Commerce), Hosting Environment (Cloud and On-Premise), Category (Goods and Services), Distribution Channel (Pure Clicks and Brick -and Click or Click-To-Brick), Purchased Device (Mobile Devices, Computer and Tablet), Payment Solutions (Third-Party Payments, Credit Cards, Debit Cards, Bank Transfers, Cash Vouchers, Cash on Delivery and Others)
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Countries Covered
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China, South Korea, Japan, India, Australia, Indonesia, Thailand, Malaysia, Singapore, Philippines, and Rest of Asia-Pacific
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Market Players Covered
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Jingdong JD (A Subsidiary of JD.com, Inc.) (China), Alibaba Group Holding Limited (China), Rakuten Group, Inc. (Japan), Supermarket Grocery Supplies Pvt Ltd (India), Grofers India Pvt. Ltd. (India), Shopify Inc. (Canada), Booking Holdings (U.S.), Amazon, Inc. (U.S.), eBay Inc. (U.S.), Walmart Inc. (U.S.), JB Hi-Fi (Australia), Woolworths Group Limited (Australia), Home Depot Product Authority, LLC (U.S.), OTTO GROUP (Germany), Brainbees Solutions Pvt Ltd (Firstcry.com) (India), ASOS plc (U.K.), Groupon, Inc. (U.S.), Costco Wholesale Corporation (U.S.), Vipshop Holdings Limited (China), Snapdeal Private Limited (India), and Carousel (Singapore) among others
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Market Opportunities
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Market Definition
The Asia-Pacific e-commerce market refers to the online buying and selling activities conducted in the Asia-Pacific region, which includes countries such as China, India, Japan, Australia, and various Southeast Asian nations. It encompasses the electronic trade of goods and services through digital platforms, websites, and mobile application. This market represents the growing trend of consumers in the Asia-Pacific region turning to online platforms for their shopping needs, facilitated by increasing internet penetration, smartphone adoption, and the availability of secure payment gateways. The Asia-Pacific e-commerce market offers businesses opportunities to reach a large and diverse consumer base, engage in cross-border trade, leverage mobile commerce, and benefit from the region's supportive government policies and technological advancements.
Asia-Pacific E-Commerce Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Rapid adoption of digital technologies and increasing internet penetration
With the large and growing population, countries in the Asia-Pacific region are witnessing a significant rise in the number of Internet users, creating a vast customer base for online retailers. Additionally, the increasing use of smartphone and the availability of affordable Internet services have further facilitated the accessibility and convenience of online shopping, driving the demand for e-commerce platforms. Moreover, the Asia-Pacific region is witnessing a rising middle-class population with higher disposable incomes, leading to an increased propensity to spend on online purchases. These factors, combined with the growing popularity of social media platforms and the adoption of mobile payment systems, are propelling the Asia-Pacific e-commerce market to new heights, are all critical factors driving the market.
- Growing popularity of the concept of smart homes and incorporating advanced technologies
The Asia-Pacific region has experienced a significant surge in mobile device usage, with a large portion of consumers accessing the internet and engaging in online shopping through their smartphones. This widespread adoption of mobile commerce has driven the growth of the e-commerce market. Furthermore, advances in technology and increased e-commerce operations in the manufacturing of electronic goods in the smart home appliance industry have increased demand for white goods. This, in turn, is expected to boost market growth.
Opportunities
- Rapidly expanding consumer base is bolster the market’s growth
The Asia-Pacific e-commerce market presents a significant opportunity for businesses to tap into a vast and rapidly expanding consumer base. With a region that encompasses diverse and populous countries such as China, India, and Southeast Asian nations, there is immense potential for growth and revenue generation. Furthermore, the increasing digital connectivity, rising middle-class population, and changing consumer preferences towards online shopping create a favorable environment for businesses to establish their presence in the e-commerce sector. By leveraging innovative technologies, adapting to local market dynamics, and offering personalized experiences, companies can capitalize on the burgeoning demand for online retail, fostering long-term customer loyalty and market success in the Asia-Pacific region. This, in turn, is anticipated to provide an opportunity for the market.
Restraints/Challenges
- High costs to derail the growth
The cost of running a modern model refrigerator is significantly dependent on the amount of power consumed per day. The amount of power utilised is affected by factors such as refrigerator features and size. However, a significant amount of the cost is determined by the service and maintenance costs that must be incurred for the new type of refrigerator. Furthermore, the fridges must be cleaned from top to bottom once a week using just the cleaner recommended by the equipment manufacturer. This affects demand for white products and is expected to slow market growth.
- Payment systems and security concerns
In certain countries, the prevalence of cash-based transactions and the lack of secure online payment systems can discourage consumers from engaging in E-commerce. Concerns over fraud, data breaches, and cybercrime also impact consumer trust in online transactions and are expected to impede market demand for these goods.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Asia-Pacific e-commerce market, contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In June 15, 2023, Jingdong JD, a subsidiary of JD.com, Inc. and one of China's largest E-commerce companies, has made a significant move in the healthcare sector by launching JD Health International. This new initiative aims to expand its cross-border healthcare E-commerce services and cater to the increasing global demand for quality healthcare products.
- In 2020, Whirlpool released the latest 3D Cool Inverter Air Conditioners range on March 17. This equipment is built with 3D Cool Technology, which delivers 60% faster cooling throughout the 50-degree summer season.
Asia-Pacific E-Commerce Market Scope
The Asia-Pacific e-commerce market is segmented into seven notable segments based on product type, platform, hosting environment, category, distribution channel, purchased device, and payment solutions. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Business to Consumer (B2C)
- Business to Business (B2B)
- Customer to Business (C2B) and Customer to Customer (C2C))
Platform
- Open-Source
- Software as a Service (SaaS) and Headless Commerce
Hosting Environment
- Cloud
- On-Premise
Category
- Goods
- Services
Distribution Channel
- Pure Clicks
- Brick -and Click or Click-To-Brick
Purchased Device
- Mobile Devices
- Computer
- Tablets
Payment Solutions
- Third-Party Payments
- Credit Cards
- Debit Cards
- Bank Transfers
- Cash Vouchers
- Cash on Delivery
- Others
Asia-Pacific E-Commerce Market Regional Analysis/Insights
The Asia-Pacific e-commerce market is analyzed and market size information is provided by the country, product type, platform, hosting environment, category, distribution channel, purchased device, and payment solutions.
The countries covered in this market report are China, South Korea, Japan, India, Australia, Indonesia, Thailand, Malaysia, Singapore, Philippines, and rest of Asia-Pacific.
China is dominating the e-commerce sector in Asia-Pacific due to the large population in the region, which has influenced the lifestyle and pattern of the consumer and the growing number of e-commerce platforms such as apps and websites. South Korea holds the second position owing to rising technological advancement with the wide adoption of smartphones in the region driving the e-commerce platform at a significant rate. Japan holds the third position owing to LINE, a messaging app with its payment system being the dominant social media platform in Japan along with the strong local presence of e-commerce websites.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific E-Commerce Market Share Analysis
The Asia-Pacific e-commerce market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to market.
Some of the major players operating in the Asia-Pacific e-commerce market are:
- Jingdong JD (A Subsidiary of JD.com, Inc.) (China)
- Alibaba Group Holding Limited (China)
- Rakuten Group, Inc. (Japan)
- Supermarket Grocery Supplies Pvt Ltd (India)
- Grofers India Pvt. Ltd. (India)
- Shopify Inc. (Canada)
- Booking Holdings (U.S.)
- Amazon, Inc. (U.S.)
- eBay Inc. (U.S.)
- Walmart Inc. (U.S.)
- JB Hi-Fi (Australia)
- Woolworths Group Limited (Australia)
- Home Depot Product Authority, LLC (U.S.)
- OTTO GROUP (Germany)
- Brainbees Solutions Pvt Ltd (Firstcry.com) (India)
- ASOS plc (U.K.)
- Groupon, Inc. (U.K.)
- Costco Wholesale Corporation (U.S.)
- Vipshop Holdings Limited (China)
- Snapdeal Private Limited (India)
- Carousel (Singapore)
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