Expansion of retail e-commerce sector across the region is driving the Taiwan digital marketplace market demand during the forecast period.

The Taiwan Digital Marketplace Market size was valued at USD 9.46 billion in 2023, and is predicted to reach USD 18.33 billion by 2030, at a CAGR of 9.8% from 2024 to 2030, according to new research by Next Move Strategy Consulting.

The expansion of the e-retail industry in Taiwan is a significant driver behind the growth of the digital marketplaces market in the country. For example, in April 2023, Coupang, a South Korean e-retailer, introduced a service in Taiwan that enables small and medium-sized enterprises (SMEs) to sell "made in Taiwan" products in South Korea. This initiative is expected to benefit numerous Taiwanese SMEs seeking opportunities in foreign markets. The increase in e-retail activity creates opportunities for digital marketplaces to thrive, serving as centralized platforms for consumers to explore, compare, and purchase products from various sellers.

However, concerns surrounding cybersecurity threats and consumer trust pose significant hurdles to the expansion of the market. When consumers perceive online platforms as vulnerable to cyberattacks, they reluctant to share personal information or engage in transactions due to fears of potential privacy breaches or financial harm.

This lack of trust lead to reduced utilization of digital marketplaces and a reluctance to participate in online shopping, thereby hindering the Taiwan digital marketplace market growth. Moreover, instances of data breaches or fraudulent activities damage the reputation of digital marketplaces, discouraging both consumers and businesses from active involvement in the online marketplace environment.

On the other hand, the integration of AR and VR technologies is positioned to drive the expansion of online marketplaces. These innovative advancements enable digital platforms to provide users with immersive and interactive shopping experiences.

Through AR and VR, consumers visualize products in real-world contexts, virtually test them before making a purchase, and explore dynamic virtual environments. These immersive encounters not only enhance customer engagement and foster brand loyalty but also lead to increased sales. Furthermore, AR and VR empower businesses to effectively showcase their products by providing detailed information and personalized recommendations, thereby contributing to the Taiwan digital marketplace market expansion.

Request for a sample here: https://www.nextmsc.com/taiwan-digital-marketplace-market/request-sample

Several key players operating in the Taiwan digital marketplace industry include Amazon.com, Inc., Walmart Inc., eBay Inc., Alibaba Group Holding Limited, Rakuten Group, Inc., Sea Limited, MercadoLibre, Inc., JD.com, Inc., Etsy, Inc., Allegro.eu, Kogan.com, SEEK, Carsales, REA Group Ltd., Airtasker Ltd. and others.

Key Insights from the Taiwan Digital Marketplace Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the Taiwan digital marketplace market is provided in the report.

• The value chain analysis in the Taiwan digital marketplace market study provides a clear picture of the roles of each stakeholder.

• The market share of players in the Taiwan digital marketplace market is provided in the report along with their competitive analysis.