India E-Commerce Market Is Projected Grow At A CAGR Of Over 16.8%

India E-commerce Market: Growth, Future Prospects, and Competitive Analysis, 2016–2028″ is the most recent market study released by Credence Research, Inc.. The India E-commerce Market generated revenue of about USD 70.5 billion in 2021, and it is predicted that it will increase at a CAGR of more than 16.8% from 2022 to 2028, reaching about USD 178.9 billion.

Some of the key reasons driving the growth of the India e-commerce market throughout the forecast period include the increasing push toward e-government, the proliferation of smartphones, expanding Internet access, digital payment, favorable demographics, and regulatory reforms. In addition, whether it is in e-Retail, travel, consumer services, or online financial services, the e-commerce market will expand as a result of improved data affordability, demand growth, and creative financial products.

Browse India E-Commerce Market report-https://www.credenceresearch.com/report/india-e-commerce-market

The growth of the e-commerce sector is being aided by government programs including Make in India, Digital India, Skill India, and Start-up India. E-commerce has increased India’s initial wave of metro clientele outside of tier-I cities. It is currently utilised by millions of people in tier II and tier III cities. Several regulating bodies and laws set the rules and regulations for e-commerce. New internet banking regulations have been released by the Reserve Bank of India. The Ministry of Electronics, Information, and Technology (MeitY) recognized e-commerce under the IT Act and added supplemental regulations.

Furthermore, a significant factor that will support the development of India’s e-commerce industry in the next years is the growing consumer preference for digital payments. The fact that digital payments provide a consistent user experience for customers is one of its main benefits. Online payments are preferred due to their reduced reliance on cash, faster transfer times, and ease of use. For instance, using cash or cheques involves risk, additional steps, and physical presence. The digital payment system allows users to send and receive money immediately from any location in the world.

The India e-commerce market is bifurcated into Type, Transaction and Geography. On the basis of type, the market is segmented into home appliances, apparel, footwear & accessories, books, cosmetics, groceries, and others. Based on transaction, the market is categorized into business-to-consumer, business-to-business, consumer-to-consumer, and others.

Why to Buy This Report-

• The study offers a qualitative and quantitative analysis of the Indian e-commerce industry by segmentation, current trends, drivers, restraints, opportunities, challenges, and market dynamics throughout the historical periods of 2016–2020, 2021 as the base year, and 2022–2028.
• The research includes details about the market’s competitive environment, such as how the major players compete on a national basis.
• Detailed examination of the segmentation of the Indian e-commerce market by kind and transaction.
• Major states with statistics on imports and exports.
• The India e-commerce market study also examines key industry trends, significant players, market growth strategies, and important application areas at the national level.

The India E-Commerce Market is Segmented into: