Analysis shows online marketplaces set to exceed $7T by 2024
This rise is driven by more and more companies embracing marketplaces as a platform to facilitate online sales, expedite cross-border expansion, increase product range and improve logistics, costs and operations.
New analysis from iBe, a pan-European financial services advisory firm, found that online marketplaces could be worth as much as $7 trillion in sales by 2024.
Currently, marketplaces contribute $1.7 trillion to the economy each year and in retail e-commerce, accounts for as much as half (50%) of sales annually. However, sales driven from marketplaces are likely to exceed $7 trillion in the next five years, hailing a new era in e-commerce.