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 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. 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 between different parties, including buyers and sellers, within a centralized online environment aimed at optimizing product discovery, purchasing, and delivery processes. 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.
By leveraging advanced technology, these platforms streamline transaction processes, ensuring secure payment processing and enhancing user experiences through features such as customer reviews and ratings. As a result, online marketplaces play a crucial role in modern commerce by bridging the gap between businesses and consumers across various geographic locations, facilitating smooth global transactions.
The growth of the e-retail industry in Taiwan plays a significant role in propelling the digital marketplace market in the country. For instance, in April 2023, Coupang, a South Korean e-retailer, initiated a service in Taiwan facilitating small and medium-sized enterprises (SMEs) to vend "made in Taiwan" products in South Korea.
This launch is anticipated to benefit numerous Taiwanese SMEs seeking opportunities in overseas markets. The upsurge in e-retail activity creates avenues for online marketplaces to flourish, serving as a centralized platform for consumers to explore, compare, and procure products from various sellers.
The introduction of App Store Cards on PChome, Taiwan's leading e-commerce platform, by InComm Payments, a global payments technology provider, holds significance for the digital marketplace market in Taiwan.
This milestone, unveiled in November 2023, marks the debut of App Store Cards available for purchase via an e-commerce channel in Taiwan, offering consumers a novel and convenient method to access these digital gift cards online. This initiative not only widens the distribution of App Store Cards but also fortifies the market landscape in Taiwan, furnishing shoppers with increased options and convenience for acquiring digital products online.
The expansion of the market faces significant obstacles due to concerns related to cybersecurity threats and consumer trust issues. When consumers perceive online platforms as susceptible to cyberattacks, they hesitate to share personal information or engage in transactions, fearing potential privacy breaches or financial harm.
This lack of trust result in decreased utilization of Taiwan digital marketplaces market growth to participate in online shopping, thereby impeding market growth. Additionally, instances of data breaches or fraudulent activities tarnish the reputation of online marketplaces, dissuading both consumers and businesses from active involvement in the online marketplace environment.
The integration of AR and VR technologies is poised to drive the online marketplaces expansion. These cutting-edge advancements enable digital platforms to offer users immersive and interactive shopping experiences. Through AR and VR, consumers visualize products in real-world contexts, virtually test them prior to 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
The key market 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.
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 9.46 Billion |
Revenue Forecast in 2030 |
USD 18.33 Billion |
Growth Rate |
CAGR of 9.8% 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.