Report: Digital Commerce to Hit $8 Trillion Globally by 2020
April 18, 2016
The total value of global digital commerce will rise from just under $5 trillion in 2015 to more than $8 trillion in 2020, according to a new report. U.K.-based Juniper Research said digital commerce, which it defines to include online and mobile banking, e-commerce, m-commerce, mobile contactless payments at the POS, P2P online and mobile payments and more, will be driven by three sectors—digital banking, remote digital goods and remote physical goods—as companies continue to integrate omnichannel strategies.
“The digital commerce market as a whole is seeing an ever increasing propensity towards an omnichannel approach, and this extends to e-commerce where the mobile and tablet platform is seeing increased use towards the purchasing of physical goods, either for delivery or collection,” said Lauren Foye, who authored the report. “In addition, global online banking users as a proportion of banked individuals are forecast to cross the 50 percent mark in 2016.”