Cross-border B2C E-commerce Market to Hit $5,576.73 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, Sept. 20, 2022 /PRNewswire/ -- The global cross-border B2C e-commerce market size is expected to reach USD 5,576.73 billion by 2030, expanding at a CAGR of 25.8% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The growth is anticipated to be fueled by changing consumer buying habits, a growing urban population, and growing consumer awareness about e-commerce. As a result, customers are more likely to purchase goods from well-known international companies, frequently making more online purchases, a key factor driving the industry growth.
Key Industry Insights & Findings from the report:
Read 130-page full market research report, "Cross-border B2C E-commerce Market Size, Share & Trends Analysis Report By Offering, By Payment Method (Digital Wallets, Credit/Debit Cards, Internet Banking), By Category, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Cross-border B2C E-commerce Market Growth & Trends
The introduction of modern e-commerce technology and the availability of protected payment alternatives and online transactions are expected to propel market growth. Furthermore, with the prevalence of social media applications, many marketing alternatives are available today, supporting the expansion of the global cross-border B2C e-commerce industry. The growing significance of online marketing platforms such as Google and Facebook ads fuel the growth.
Cross-border e-commerce platforms offer ways for Small & Medium enterprises (SMEs) to develop by presenting access to a global and domestic customer base. For instance, nearly 70% of American SMEs utilize their web store or third-party online marketplace, according to Data Catalyst, with the bulk of those businesses opting to use several marketplaces. Therefore, the increasing demand for these services to connect customers with suppliers, make ordering more accessible and manage the delivery of items is xpected to boost the market landscape over the forecast period.
The COVID-19 outbreak has contributed positively to the industry's growth as consumers prefer product purchases and transactions online. Moreover, e-commerce innovations have also facilitated quick online purchases. For instance, according to data insight from PayPal, through the deployment of innovative and secure e-commerce platforms, UPS and PayPal saw double-digit growth in their cross-border shipping business by the middle of 2020.
Cross-border B2C E-commerce Market Segmentation
Grand View Research has segmented the global cross-border B2C e-commerce market based on offering, payment method, category, and region:
Cross-border B2C E-commerce Market - Offering Outlook (Revenue, USD Billion, 2017 - 2030)
Cross-border B2C E-commerce Market - Payment Method Outlook (Revenue, USD Billion, 2017 - 2030)
Cross-border B2C E-commerce Market - Category Outlook (Revenue, USD Billion, 2017 - 2030)
Cross-border B2C E-commerce Market - Regional Outlook (Revenue, USD Billion, 2017 - 2030)
List of Key Players in the Cross-border B2C E-commerce Market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
SOURCE Grand View Research, Inc.