Canada Digital Marketplace Market

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Canada Digital Marketplace Market by Platform (Desktop, Mobile, and Tablets), by Model Type (Business to Business (B2B), Business to Consumer (B2C), and Consumer to Consumer (C2C)), and by End Users (Commercial, and Personal)- Opportunity Analysis and Industry Forecast, 2024– 2030

Industry: ICT & Media | Publish Date: 27-Jun-2024 | No of Pages: 135 | No. of Tables: 101 | No. of Figures: 46 | Format: PDF | Report Code : N/A

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Canada Digital Marketplace Market Overview

The Canada Digital Marketplace Market size was valued at USD 15.35 billion in 2023, and is predicted to reach USD 33.72 billion by 2030, at a CAGR of 11.7% from 2024 to 2030. Digital marketplace market also known as online marketplaces or digital commerce platforms, serve as virtual meeting points where individuals engage in transactions to buy or sell goods, services, or information. These platforms act as intermediaries, facilitating exchanges between various parties, such as buyers and sellers, within a centralized online environment tailored for effortless product discovery, purchasing, and delivery. Prominent examples of online marketplaces include well-established e-commerce platforms such as Amazon, eBay, and Alibaba, as well as service-oriented platforms such as Upwork and Fiverr.

Utilizing technology, these platforms streamline transaction processes, ensuring efficient and secure payment processing while safeguarding the financial information of all parties involved. Moreover, they enhance user experiences by offering features such as customer reviews, ratings, and mechanisms for resolving transaction-related issues. Consequently, online marketplaces leverage technology to improve the overall online commerce experience, making it simpler and safer for both buyers and sellers. They play an indispensable role in today's economy by bridging the gap between businesses and consumers across geographical boundaries, thereby facilitating seamless and convenient global commerce.

Burgeoning E-commerce Industry in Canada Drives the Canada Digital Marketplace Market Growth

The burgeoning e-commerce industry in Canada serves as a pivotal catalyst for the expansion of the digital marketplace in this region. According to the International Trade Administration report, the Canadian e-commerce industry is projected to grow at a compound annual growth rate of 10.55% by 2027, albeit slightly lower than the anticipated growth rate of 11.22% in the United States.

As Canadian consumers increasingly turn to online shopping for convenience and variety, there is a surging demand for platforms that aggregate products and services from multiple vendors. Digital marketplaces serve as one-stop destinations, offering a wide array of goods and services while fostering competition and innovation. This growth in e-commerce stimulates the expansion of online marketplace, providing businesses with opportunities to reach broader audiences and diversify their sales channels.

 

Surging Demand for Online Shopping Accelerates the Growth of the Canada Digital Marketplace Market Trends

In Canada, the surging demand for platforms that aggregate products and services from multiple vendors is driving the expansion of the digital marketplace market. As Canadian consumers increasingly embrace online shopping for its convenience and variety, there is a growing need for centralized platforms that offer a diverse range of goods and services. Online marketplace fulfils this need by serving as one-stop destinations where consumers access a wide array of products from various vendors.

Moreover, these marketplaces foster competition and innovation, further fueling their growth. The increasing popularity of e-commerce in Canada not only stimulates the expansion of digital marketplaces but also provides businesses with opportunities to reach broader audiences and diversify their sales channels.

Challenges Related to Cybersecurity Threats and Consumer Trust Within Digital Marketplaces Hinder the Expansion of the Market

Cybersecurity threats, such as data breaches and fraudulent activities, pose significant challenges to digital marketplace by undermining consumer trust. When consumers perceive online platforms as vulnerable to cyberattacks, they hesitate to share personal information or conduct transactions online due to concerns about privacy breaches or financial harm.

This leads to reduced usage of online marketplaces and reluctance to engage in online shopping endeavors, thereby impeding market expansion. Furthermore, instances of data breaches or fraudulent behaviour damage the reputation of digital marketplace, discouraging both consumers and businesses from active involvement in the online marketplace environment.

 

Integration of Augmented Reality (AR) and Virtual Reality (VR) Technologies Creates Prospective Market Opportunity

The integration of Augmented Reality (AR) and Virtual Reality (VR) technologies into digital marketplace is positioned to create lucrative opportunities within the market. By leveraging AR and VR, digital marketplaces offer users enhanced and immersive shopping experiences.

These technologies enable consumers to visualize products in real-world contexts, virtually test them before making a purchase, and explore interactive virtual environments. Such immersive experiences not only boost customer engagement and foster brand loyalty but also drive sales.

Furthermore, AR and VR empower businesses to effectively showcase their products by providing detailed information and personalized recommendations to users. Therefore, the integration of AR and VR technologies holds significant potential to revolutionize the future landscape of online marketplaces by delivering innovative and compelling shopping experiences.

 

Competitive Landscape 

The key players operating in the Canada 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.

Canada Digital Marketplace Market Key Segments

By Platform

  • Desktop

  • Mobile

  • Tablets

By Model Type

  • Business to Business (B2B)

  • Business to Consumer (B2C)

  • Consumer to Consumer (C2C)

By End-User

  • Commercial

  • Personal

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Market Size in 2023

USD 15.35 Billion

Revenue Forecast in 2030

USD 33.72 Billion

Growth Rate

CAGR of 11.7% from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Billion (USD)

Growth Factors

  • Burgeoning E-commerce industry boosts the market growth.

  • Surging demand for online shopping drives the growth of industry.

Companies Profiled

15

Market Share

Available for 10 companies

Customization Scope

Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs.

KEY PLAYERS

  • 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.

Bar chart Pie chart Pie chart

Frequently Asked Questions

The key market players operating in the Canada online marketplace market are 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., Freelancer Ltd., and Hipages Group.

According to the Next Move Strategy Consulting, the size of the Canada digital marketplace market is estimated at USD 15.35 billion in 2023.

The integration of Augmented Reality (AR) and Virtual Reality (VR) Technologies is expected to create opportunities for the Canada digital marketplace market.

Cybersecurity and customer trust issues related to digital commerce platforms acts as restraining factors to the growth of Canada digital marketplace market.

According to the Next Move Strategy Consulting, the size of the Canada digital marketplace market is estimated to be at USD 33.72 billion in 2030.

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