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E-com likely to grow at average 47% in 5 yrs globally: FedEx Express

13 Dec '21

2 min read

Pic: Denphumi | Dreamstime.com

E-commerce is expected to grow at an average of 47 per cent in the next five years globally, according to a white paper released by FedEx Express, a subsidiary of FedEx Corp. The Asian market leads the field at 51 per cent, followed by Europe (42 per cent) and North America (35 per cent). In the Middle East and Africa, the combined e-commerce market value is expected to reach to $73 billion by 2025.

However, growth in China, in particular, has eclipsed the rest of Asia, with e-commerce sales in 2020 reaching $1.3 trillion with a projected increase to nearly $2 trillion by 2025, it said.

The promising outlook also creates vast opportunities for logistics companies to grow. The global e-commerce logistics market is projected to register the highest gains of approximately 6.6 per cent year on year during 2021-2028, reaching $118,847 million by 2028.

The white paper, titled ‘E-commerce Megatrends to Watch’, highlights the seven most significant digitally relevant megatrends occurring in China, the world’s biggest e-commerce market.

“Our research shows that the Asia Pacific, Middle East and Africa (AMEA) region will be at the forefront of e-commerce growth for many years to come. With rising disposable incomes, growing internet penetration, and emerging cross-border e-commerce markets, there is a huge amount of growth yet to be realised here,” said Kawal Preet, president of the AMEA region at FedEx Express, in a press release.

Fibre2Fashion News Desk (DS)

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