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
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.
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.
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.
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.
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.
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.
Desktop
Mobile
Tablets
Business to Business (B2B)
Business to Consumer (B2C)
Consumer to Consumer (C2C)
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 |
|
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. |
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.