The global ecommerce size in 2019 is expected to reach $3.535 trillion. This marks an increase of 20.7 percent from the previous year as the global ecommerce market continues to grow year after year. But where is this growth coming from, and who are the largest contributors to thegrowing global ecommerce size? Here’s a breakdown of the global ecommerce market size by country.
As the world’s largest ecommerce market, China will be responsible for more than half of all ecommerce sales worldwide, forecasts show. Its $1.934-trillion ecommerce market represents 54.7 percent of total global ecommerce sales and is more than the total market size of the next nine on the list of the top ten largest ecommerce markets.
Not only is China responsible for a large portion of global ecommerce sales, it also has quite a dominant lead as the largest ecommerce market in the world. It even out-ranks the United States, which is in second place.
The US’s ecommerce market size in 2019 totaled $586.92 billion – less than a third of that of China’s. This is quite a remarkable feat for China, considering that it only surpassed the US as the world’s largest ecommerce market as recently as 2013.
The growth rate of the US’s ecommerce market size also pales in comparison to China’s. From 2018 to 2019, the US managed a 14 percent increase in total ecommerce sales, which is approximately half of the 27.3 percent by which China’s ecommerce market grew.
After China and the US, the country with the third-largest ecommerce market size is the United Kingdom. Total ecommerce sales in the UK is set to increase by 10.9 percent from $127.98 billion in 2018 to $141.93 billion in 2019.
Two other Asian countries, Japan and South Korea, wrap up the list of the five-largest ecommerce markets. They are expected to bring in $115.40 billion and $103.48 billion in ecommerce sales in 2019 respectively, with growth rates of 4.0 percent and 18.1 percent.
As it stands, three out of the five biggest ecommerce markets are in Asia. Coupled with the fact that the ecommerce market in the Asia-Pacific region is set to increase by 25 percent in 2019, this is perhaps a reflection of the region’s growing ecommerce potential. This makes it an important market for ecommerce store owners to focus their efforts on.