Digital commerce generally, and e-commerce in particular, will experience strong growth over the next five years, according to Juniper Research. The U.K.-based consultancy expects the total value of digital commerce globally to grow from $12.3 trillion this year to more than $20 trillion by 2027. It predicts that digital payment methods will grow enough over that time to drive overall spending on digital commerce to new heights.
Juniper defines digital commerce to include online money transfer, digital and physical goods purchases, digital ticketing purchases, banking and bill payments.
In Digital Commerce: Key Trends & Market Forecasts 2022-2027 ($), Juniper identifies rising e-commerce sales as another factor that will drive significant growth in overall digital commerce. According to the report, consumers spending globally on e-commerce purchases will grow by 82 percent. Growth in spending, mostly on physical goods, along with a reduction in supply chain challenges and improvement in order fulfillment operations will contribute most to e-commerce growth.
BNPL and other alternative digital payments beyond credit and debit cards will be instrumental in sustaining growth.
