Taiwan Advanced Connectivity in E-Commerce & Retail Market
Taiwan's advanced connectivity in the e-commerce and retail market has seen significant growth and transformation in recent years. This article will delve into the market size, share, analysis, trends, companies, regional analysis, and competitive landscape of Taiwan's advanced connectivity in the e-commerce and retail sector.
Market Size and Share
Taiwan's e-commerce market has been steadily growing, with an increasing number of younger shoppers opting for online retailers. However, despite the high internet penetration rate and mobile phone usage, the proportion of e-commerce transactions in total retail sales in 2019 was just at 5.3%, indicating a relatively low share of online retailing among advanced markets . The Advanced Connectivity in E-Commerce & Retail Market industry is projected to grow from 2.68 Billion USD in 2032, exhibiting a compound annual growth rate (CAGR) 25.7% during the forecast period (2023 - 2032). This signifies the substantial size of the e-commerce market in Taiwan.
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Analysis and Trends
The focus on timely deliveries of household items, including groceries, has significantly driven sales on e-commerce channels, leading to new growth prospects for vendors in the market. Advancements in supply chain systems and changes in consumer behavior have also played a pivotal role in shaping the e-commerce landscape in Taiwan. Furthermore, the demand for quick delivery has led to an increased preference for online purchases of basic household necessities, indicating a shift in consumer behavior. The forecasted e-commerce spending as a share of gross domestic product (GDP) in Taiwan from 2022 to 2026 further underscores the evolving trends in the e-commerce sector
TaiwanTrade and iDealEZ Online Marketplace are prominent platforms that facilitate e-commerce activities, allowing businesses to find suppliers, manufacturers, and distributors, and buy small quantities of sample items directly from suppliers. In terms of market share, few major players currently dominate the market, but mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets. Notable players in the Taiwan retail sector include President Chain Store Corp. and Taiwan FamilyMart Co., Ltd.
- AT&T
- Verizon
- Qualcomm
- Ericsson
- Huawei
- Cisco Systems
- IBM
- Oracle
- SAP
- Microsoft
- Samsung
- Dell
- HPE
- Intel
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Competitive Analysis
The competitive scenario in Taiwan's e-commerce market is characterized by a focus on competition parameters, market/revenue share, and company profiles of major players operating in the market. The market has witnessed single-digit growth rates in terms of Gross Merchandise Value (GMV) over the review period 2013-2018, indicating a competitive landscape with opportunities and cautions for both new and existing players.
In conclusion, Taiwan's advanced connectivity in the e-commerce and retail market has experienced significant growth, driven by evolving consumer behavior, advancements in supply chain systems, and the increasing preference for online purchases of various products. The market size, share, analysis, trends, regional analysis, and competitive landscape collectively paint a picture of a dynamic and evolving e-commerce and retail sector in Taiwan.