Finland Digital Marketplace Market

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Finland 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: 28-Jun-2024 | No of Pages: 135 | No. of Tables: 101 | No. of Figures: 46 | Format: PDF | Report Code : N/A

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Finland Digital Marketplace Market Overview

The Finland Digital Marketplace Market size was valued at USD 3.49 billion in 2023, and is predicted to reach USD 4.70 billion by 2030, at a CAGR of 4.2% from 2024 to 2030. Digital marketplace market, also referred to as online marketplaces or digital commerce platforms, serve as virtual hubs where individuals engage in the exchange of goods, services, or information. Acting as intermediaries, these platforms facilitate transactions among buyers and sellers within a centralized online environment designed to simplify product discovery, purchasing, and delivery. Notable examples of online marketplaces include renowned e-commerce platforms such as Amazon, eBay, and Alibaba, as well as service-oriented platforms such as Upwork and Fiverr.

Leveraging advanced technology, these platforms optimize transaction processes, ensuring efficient and secure payment processing while protecting the financial data of all participants. Additionally, they enrich 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 shopping experience, enhancing convenience and security for both buyers and sellers. They play a vital role in the modern economy by connecting businesses and consumers across diverse geographic locations, facilitating seamless and convenient global commerce.

Adoption of Initiatives by Key Players is Driving the Digital Marketplace Market Trends

Initiatives led by local companies such as Digital Commerce Finland, a novel societal and collaborative venture, play a pivotal role in propelling Finland digital marketplace market. Digital Commerce Finland aspires to cultivate Finland's most competitive digital commerce community by uniting online stores, SMEs, and various stakeholders invested in digital commerce. By inviting a diverse array of parties deeply entrenched in digital trade in Finland, these initiatives stimulate increased engagement and involvement in the online marketplace ecosystem, thereby spurring its growth and prosperity.

 

Expansion of E-Commerce Platforms Boosts the Finland Digital Marketplace Market Growth

The introduction of an online platform for buying, selling, and exchanging second-hand items in Finland stands poised to drive substantial growth in the digital marketplace market. This dedicated marketplace provides individuals with a platform to trade pre-owned goods, catering to the burgeoning demand for affordable shopping alternatives. 

For example, in November 2023, Vinted, Europe's foremost C2C second-hand fashion marketplace, unveiled its platform in Finland. This initiative enables Finns to effortlessly browse and exchange second-hand items online via the Vinted app and website, enhancing accessibility and convenience. The establishment of an online marketplace for second-hand items in Finland diversifies and expands the online marketplace market, fostering innovation and meeting the evolving preferences of consumers.

Challenges in Cybersecurity and Consumer Trust Hinders the Finland Digital Marketplace Market Growth

Issues related to cybersecurity threats and consumer trust pose significant obstacles to the expansion of the market. When consumers perceive online platforms as vulnerable to cyberattacks, they may hesitate to share personal information or conduct transactions due to concerns about privacy breaches or financial harm.

This lack of trust lead to reduced usage of digital marketplace and reluctance to engage in online shopping, thereby impeding the Finland digital marketplace market growth. Moreover, instances of data breaches or fraudulent activities can damage the reputation of digital commerce platforms, discouraging both consumers and businesses from active participation in the online marketplace environment.

 

Integration of Augmented Reality (AR) and Virtual Reality (VR) Technologies Presents Lucrative Opportunity for Online Marketplaces

By incorporating AR and VR, digital marketplaces can provide users with immersive and interactive shopping experiences. These technologies allow consumers to visualize products in real-world settings, virtually try them before making a purchase, and explore dynamic virtual environments. Such immersive experiences not only enhance customer engagement and foster brand loyalty but also drive sales.

Moreover, AR and VR empower businesses to effectively showcase their products by offering detailed information and personalized recommendations to users. Thus, the integration of AR and VR technologies consist of the potential to transform the future of digital marketplace by delivering innovative and compelling shopping experiences.

 

Competitive Landscape

The key players operating in the Finland 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.

Finland 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 3.49 Billion

Revenue Forecast in 2030

USD 4.70 Billion

Growth Rate

CAGR of 4.2% from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Billion (USD)

Growth Factors

  • Adoption of initiatives by key players boosts the market growth.

  • Expansion of e-commerce platforms 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 Finland 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 Finland online marketplace market is estimated at USD 3.49 billion in 2023.

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

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

According to the Next Move Strategy Consulting, the size of the Finland digital marketplace market is estimated to be at USD 4.70 billion in 2030.

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