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 Japan Digital Marketplace Market size was valued at USD 19.57 billion in 2023, and is predicted to reach USD 48.31 billion by 2030, at a CAGR of 13.7% from 2024 to 2030. Digital marketplace market, also known as online marketplaces or digital commerce platforms, serve as virtual hubs where individuals engage in buying or selling goods, services, or information. These platforms facilitate transactions among various parties, including buyers and sellers, within a centralized online environment optimized for easy product discovery, purchasing, and delivery.
Notable examples of online marketplaces include well-known 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 streamline transaction processes, ensuring secure payment processing while enhancing user experiences with features such as customer reviews and ratings. Consequently, online marketplaces play a crucial role in modern commerce, bridging the gap between businesses and consumers across different geographic locations and enabling seamless global transactions.
The expansion of 5G connectivity in Japan serves as a significant driver behind the growth of the digital marketplace market in the country. For instance, DOCOMO, a Japanese mobile phone operator, plans to invest over USD 7 billion to expand its network to 97% of the populated areas of the country by 2025.
This initiative includes installing 8,001 base stations in the 3.7GHz and 4.5GHz spectrum bands, as well as 5,001 base stations in the 28GHz band. With the rollout of high-speed 5G networks, consumers experience faster and more reliable internet access, enabling seamless browsing and transactions on digital marketplaces. This enhanced connectivity facilitates immersive shopping experiences, thereby improving user engagement and satisfaction.
In March 2024, Mitsui & Co., Ltd. and Shopify Japan K.K. collaborated to introduce a service aimed at supporting the digital transformation (DX) of delivery operations for e-commerce merchants in Japan. By focusing on improving the efficiency and effectiveness of delivery processes, this partnership streamlines logistics for online businesses, reducing delivery times and enhancing customer satisfaction.
As a result, e-commerce merchants offer faster and more reliable shipping options, attracting more consumers to their virtual marketplaces. This initiative contributes to the overall advancement of e-commerce operations in the country, fostering growth and innovation within the Japan digital marketplace market ecosystem.
Concerns stemming from cybersecurity threats and consumer trust issues pose significant obstacles to the expansion of the Japan digital marketplace market. When consumers perceive online platforms as vulnerable to cyberattacks, they hesitate to share personal information or engage in transactions, fearing privacy breaches or financial harm.
This lack of trust result in reduced usage of digital marketplaces and reluctance to participate in online shopping, thereby hindering market growth. Moreover, instances of data breaches or fraudulent activities tarnish the reputation of online marketplaces, discouraging both consumers and businesses from active involvement in the digital marketplace environment.
The integration of AR and VR technologies is expected to enhance the Japan digital marketplace market expansion for online marketplaces. These cutting-edge technologies enable consumers to visualize products in real-world settings, virtually try them before purchasing, and explore dynamic virtual environments. Such immersive experiences not only enhance 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 presents a promising opportunity to revolutionize the future of internet shopping by delivering innovative and compelling shopping experiences.
The various market players operating in the Japan 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 19.57 Billion |
Revenue Forecast in 2030 |
USD 48.31 Billion |
Growth Rate |
CAGR of 13.7% 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.