The global cross-border e-commerce market was estimated at $ 1280 billion in 2020 and is foreseen to reach $ 4.820 billion by 2026, with a CAGR of 27% over the conjecture period from 2021 to 2026. Globalization has improved the volume and variety of cross-border transactions in services and products through the rapid and widespread diffusion of technology.
Cross-border e-commerce is international online commerce. It involves buying and selling products in online stores across international and national borders. Trade is between a business or retailer or brand and a customer. There are several categories of cross-border e-commerce, such as entertainment and education, clothing and accessories, consumer electronics, home furnishings, personal care and beauty, health and nutrition, footwear and clothing, food and drinks. The payment method for cross-border e-commerce includes digital wallets, credit/debit cards, and internet banking. Cross-border e-commerce is used by adults, teens/millennials or the elderly.
Coronavirus has accelerated the transition to online shopping, demonstrating that a strong e-commerce strategy is crucial for merchants as consumers increasingly realize the convenience and simplicity of shopping online. Cross-border e-commerce has seen strong positive growth, with markets around the world rebounding and even surpassing pre-pandemic figures, after a slight year-over-year sales decline following the COVID-19 outbreak in December 2020.
Recent Developments:
Market Growth and Trends:
Cross-border e-commerce in Europe is expected to experience strong growth during the forecast period due to the maturity of e-commerce markets and the presence of developed economies, resulting in high consumer spending, high internet penetration and mobile and emerging industry growth rates are projected.
Market Drivers and Restraints:
Logistics related issues such as shipping costs, long delivery times, import regulations, and return logistics are a major challenge the customer might face in online cross-border shipping. The customer should consider using a vendor who can offer a solution to overcome these challenges. International shipments include various costs such as border tolls, brokerage fees, duties, inspection fees, warehousing fees, fees and taxes. Since each country has its own set of regulations, it presents challenges when it comes to cross-border logistics.
With the convenience of e-commerce, consumers expect shorter delivery times, real-time tracking, safe delivery, and more. Difficulty in handling reverse logistics, last mile delivery is also one of the main logistics problems of cross-border trade. Consumers' preferred payment options vary by country. For example, in Japan, a local payment method called "Konbini" accounts for one-sixth of e-commerce payments; On the other hand, Spain uses Visa, MasterCard and American Express, while Asian consumers prefer DO options. Therefore, accepting the payment options according to the requirements of each country is a challenge.
Market segmentation:
The global cross-border e-commerce market is divided based on the category, payment type, offering and end-user.
Clothing and accessories segment is expected to have the largest market share during the foreseen period due to peak use of cross-border B2C e-commerce in terms of apparel and accessories.
The digital wallet category is expected to have the largest share, as this payment method is the most widely used.
The batching brands category is likely to have the largest market share, as these brands are in highest demand.
The adult segment is supposed to have the highest market share due to the use of cross-border B2C e-commerce mainly by adults.
Regional Analysis:
In terms of region, the global cross-border e-commerce market is segmented into:
Among these regions, Europe is supposed to be the dominant region during the foreseen period due to the increasing number of online shoppers. The UK is anticipated to make a significant contribution to the target market in Europe during the forecast period.
Key market players:
Some of the main players operating in the global cross-border e-commerce market are AirBridgeCargo Airlines, eBay, AliExpress.com, ASOS, ACES, BigCommerce, Jagged Peak, Amazon.com, Pitney Bowes, Tmall, Eunimart Multichannel, JD. com, Vipshop and Zalando.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Cross-Border E-Commerce Market, By Category
6.1.1 Entertainment and Education
6.1.2 Clothing and Accessories
6.1.3 Consumer Electronics
6.1.4 Home Furnishings
6.1.5 Personal Care and Beauty
6.1.6 Health and Nutrition
6.1.7 Footwear
6.1.8 Food and Beverage
6.1.9 Market Size Estimations & Forecasts (2021-2026)
6.1.10 Y-o-Y Growth Rate Analysis
6.1.11 Market Attractiveness Index
6.2 Cross-Border E-Commerce Market, By Payment Type
6.2.1 Digital Wallets
6.2.2 Credit/Debit Cards
6.2.3 Online Banking
6.2.4 Market Size Estimations & Forecasts (2021-2026)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
6.3 Cross-Border E-Commerce Market, By Offering
6.3.1 Internal Brands
6.3.2 Matching Brands
6.3.3 Market Size Estimations & Forecasts (2021-2026)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
6.4 Cross-Border E-Commerce Market, By End-User
6.4.1 Adults
6.4.2 Teens/Millennials
6.4.3 Seniors
6.4.4 Market Size Estimations & Forecasts (2021-2026)
6.4.5 Y-o-Y Growth Rate Analysis
6.4.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Category
7.2.3 By Payment Type
7.2.4 By Offering
7.2.5 By End-User
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Category
7.3.3 By Payment Type
7.3.4 By Offering
7.3.5 By End-User
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Category
7.4.3 By Payment Type
7.4.4 By Offering
7.4.5 By End-User
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Category
7.5.3 By Payment Type
7.5.4 By Offering
7.5.5 By End-User
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Category
7.6.3 By Payment Type
7.6.4 By Offering
7.6.5 By End-User
8. Key Player Analysis
8.1 AirBridgeCargo Airlines
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 eBay
8.3 AliExpress.com
8.4 ASOS
8.5 ACES
8.6 BigCommerce
8.7 Jagged Peak
8.8 Amazon.com
8.9 Pitney Bowes
8.10 Vipshop
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
