Global e-com market $26.8 trn now, may hit $214.5 trn by 2033: IMARC

From established giants in the US and Europe to fast-paced markets in Asia, the e-commerce revolution is creating a competitive marketplace that transcends geographical boundaries, it observed.

Vietnam will lead Southeast Asia’s e-commerce revolution, with the country’s digital economy estimated to reach $220 billion by 2030, portraying ample opportunities for global investors. Projections indicate that Ho Chi Minh City and Hanoi will develop to become significant hubs, it said.

Vietnam’s e-commerce industry will see a compounded annual growth rate of 28 per cent from 2025 to 2033.

Favourable regulatory conditions, expanding foreign investments and enhanced internet accessibility will make Vietnam’s e-commerce ecosystem see sustained expansion, transforming it into a regional powerhouse in the digital economy, the report noted. E-commerce accounts for over 60 per cent of Vietnam’s digital economy.

Its progressing e-commerce landscape is characterised by successful local platforms including Tiki, Sendo, and Thegioididong, driven by investments from Japan, the United States, Germany, China, South Korea and Singapore.

The report highlights several factors behind Vietnam’s appeal to the world. These include high growth potential driven by a young and tech-savvy population, favourable government policies, increasing foreign direct investment and a strong export-focused economy; favourable investment climate, tax incentives, reduced tax rates, flexible labour policies, improved labour relations, support for public-private partnerships.

ALCHEMPro News Desk (DS)