TOKYO, June 01, 2022 (GLOBE NEWSWIRE) — The global e-commerce electronics market is anticipated to grow at an annual rate of above 10.9% from 2022 to 2030 and reach a market value of around USD 861 billion by 2030.
According to the latest study, adults in the United States spent 90 minutes per day online in 2018, 2.5 hours per day in 2019, and with contributions of coronavirus, it increased 8 hours per day. The demand for electronic gadgets grew dramatically as a result of this astronomical increase. The COVID-19 epidemic ushered in a slew of digital marketing strategies that weren’t expected to gain traction. With other new marketing ideas circulating, 2022 will be a proving ground for many brands.
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The electronics ecommerce business has profited as consumers have become more accustomed to purchasing goods and services online. As a result, the electronics e-commerce business is expected to rise at a noteworthy rate from 2022 to 2030. The sector grew as a result of increased demand for technological devices. According to 40% of worldwide electronics businesses, the electronics industry was the greatest winner of COVID-19. Computers and consumer gadgets account for a significant amount of share in all e-commerce transactions. Even though gaining consumer trust in the electronics business has been difficult, online stores that have done so have seen increasing revenue as a result of the high demand for electronics.
COVID-19 Impact on E-Commerce Electronics Industry
While the pandemic had a mostly favorable impact on the electronics sector, it also had some negative consequences. Disruptions to electronic businesses’ supply chains caused by prolonged factory closures and labor shortages in China were a major concern produced by increasing demand in this sector. Electronics behemoths rely on Chinese facilities, and the closing of these factories caused supply problems for several corporations, including Apple. With the COVID-19 impact, the online electronics business has had a profitable year, and despite supply shortage difficulties, they have remained the most benefited sector. And, even after the pandemic, online education and working from home have become viable options, the electronics sector will continue to flourish.
|Market||E-commerce Electronics Market|
|Market Size 2021||US$ 344 Bn|
|Market Forecast 2028||US$ 861 Bn|
|CAGR||10.9% During 2022 – 2030|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Product, By Business Model, By Pricing Model, And By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Alibaba, Amazon, eBay, Flipkart, JD.com, Newegg, Rakuten, Shopify, Target, and Walmart.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Global E-Commerce Electronics Market Growth Aspects
The e-commerce electronics industry is on a rise due to numerous benefits offered by online sales such as clean and easy design, comprehensive product information, product comparison, customer ratings and reviews, and segmentation of products. According to a recent survey, a large percentage of people’s electronic buying habits have shifted. The number of people buying electronics online has been steadily increasing since the outbreak began a few months ago. Buying electronics online has become more common in the roughly two years since the outbreak began. In addition to that, some of the key trends that are creating a paradigm shift in the e-commerce market in the world include technology adoption, digital payments, subscription services, and omnichannel strategy.
The global e-commerce electronics market has been segmented based on product, business model, and pricing model. Based on the product, the market is divided into smartphones, computers, laptops/tablets, audio devices, wearables, and other electronic devices. People have become increasingly online in the past year as a result of online schools, home offices, and staying at home longer than normal. Companies have offered laptops to their employees, while governments have provided students with electronic devices such as tablets so that they can pursue online education. The electronics sector grew as a result of all of this.
By business model, the market is categorized into consumer to business (C2B), business to consumer (B2C), consumer to consumer (C2C), and business to business (B2B). Furthermore, the pricing model segment is split into medium-cost products, high-end products, and low-cost products.
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The global flexible electronics market size accounted for US$ 26,534 Mn in 2021 and is estimated to reach US$ 63,128 Mn
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global e-commerce electronics market. Based on the regional classification, the North America region generated considerable revenue in 2021. Increased sale of high-end electronic products has led to a high percentage share of the North America region, especially in the U.S. For instance, according to the Apple annual reports – Apple was one of the year’s greatest winners, with its stock nearly doubling in value. The years 2017-2019 were stable for Apple, with little growth. Nevertheless, Apple’s online shop grew significantly resulting in a 20% revenue increase in 2020. However, the Asia-Pacific region is expected to attain the fastest growth rate during the projected years 2022 – 2030. The high growth in the region is credited to the increasing adoption of online sales channels, increased internet penetration, rising disposable income, and rising demand from the medium-priced consumer electronics industry.
Key players covered globally in the e-commerce electronics industry are Alibaba, Amazon, eBay, Flipkart, JD.com, Newegg, Rakuten, Shopify, Target, and Walmart.
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Acumen Research and Consulting