Impact of major global vendors such as Alibaba Group, Amazon, and eBay in the growing e-commerce industry
Steadily and surely, the e-commerce industry is prospering. The e-commerce industry generated a revenue of more than USD 1.5 trillion in 2016, according to Technavio Research. The firm also reveals that, the industry is expected to grow at a CAGR of more than 17% during the forecast; this is because of the presence of major global vendors such as Alibaba Group, Amazon, and eBay.
It is now obvious that, the global e-commerce industry is growing because of a growing m-commerce industry with an increasing number of smartphones, which is helping the growth of online shopping via smartphones.
Globally, there were more than 4 billion mobile phone users in 2016 which represent more than 45% of the global population, says Shakti Jakhar, a lead logistics research analyst at Technavio.