25 February 2020
Jocelyn Honour / Global Practice Lead Digital Commerce
China and North America dominate the digital commerce world, but East Asia and Europe are the ones to watch for future growth.
New Zealand Trade and Enterprise (NZTE) has released a report into global digital commerce, prepared by Statista Limited of London. The report looks at digital commerce across both business-to-consumer (B2C) and business-to-business (B2B) segments, with clear explanations and data on eCommerce, eServices and digital media.
The total digital commerce market is expected to grow at an annual rate of 10.4% over the next few years, with digital commerce of physical goods and eServices both showing growth rates of 10-11%.
Greater China (which includes Hong Kong and Taiwan) dominates revenue, which is forecast to grow to US$1,216 billion in 2023, followed by North America with a forecast of US$734 billion. The report also shows that Europe will see revenue move above US$400 billion in the same period.
Of particular interest is East Asia, where South Korea has a very high penetration of digital commerce, with Indonesia and Cambodia also identified as areas of significant growth. The wider Asia region also dominates the B2B digital commerce market, with just over 80% of gross merchandise value across the world.
NZTE’s report looks at the major players in the B2B digital commerce market, such as Amazon Business, Alibaba and Germany’s Mercateo, and provides data on all seven global regions.
A key insights report is available for download on this page. The full report is available to NZTE customer businesses via their Customer Manager.
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