Skip to main content

Global eCommerce Payments will Exceed $7.5 Trillion

Online commerce transactions are the essential fuel that drives the Global Networked Economy.  Digital business growth experienced an economic uplift as a consequence of the economic challenges that accompanied the global health crisis brought on by the COVID-19 pandemic.

At the same time, the digital transformation of consumer transactions contributed to even greater upward momentum. Even as more legacy retailers shifted to eCommerce, the last 24 months have been the most difficult time for mid-market retailers as they recover from the pandemic disruption.

Global eCommerce Market Development 

According to the latest market study by Juniper Research, the value of global eCommerce payment transactions will exceed $7.5 trillion by 2026 -- that's up from $4.9 trillion in 2021.

This growth rate of 55 percent over the next five years will be driven by retailers offering compelling omnichannel retail experiences that increase user eCommerce spending.

Omnichannel retail is a model that provides end-users with the ability to access retail services, including sales and customer support, via multiple online channels.

Juniper analysts predict that these combined channels -- including online, mobile, and physical retail locations -- will be instrumental for future success. This is because users expect the same services to be available irrespective of the channel.

Additionally, Juniper found that there are increasing appetites for new payment methods within eCommerce checkouts, including open banking-facilitated payments and digital wallet one-click checkout buttons.

According to the Juniper assessment, it now recommends that merchants ensure online payment options match changing consumer expectations for ease of use, or they will be rapidly left behind.


The research found that by 2026, China will account for over 37 percent of global eCommerce payments by transaction value, owing to its established and extensive eCommerce and payments landscape that provides greater convenience for users via easily accessible alternative payment methods.

Additionally, Juniper recommends prioritizing digital wallets, open banking‑facilitated payments and cryptocurrencies to emulate the eCommerce success experienced in China.

To do so, they recommend that platform providers partner with specialists in these specific emerging payment areas keep pace with changing merchant expectations around acceptance types.

Outlook for eCommerce Applications Growth

Looking forward, Juniper now forecasts that physical goods will account for 82 percent of the global eCommerce payments transaction value by 2026.

Their analysts urge payment providers to support BNPL -- an alternative payment method that integrates fixed installment plans and flexible credit in eCommerce checkout options -- to capitalize on the continuing growth.

That said, I believe digital payment options will continue to evolve as more progressive retail organizations seek new ways to attract and retain the diverse demographic segments of shoppers that have very different needs for their preferred online retail user experience.

Popular posts from this blog

How Data and Analytics Drive Business Growth

Senior executives in the world’s largest and most complex organizations will develop the insights required to achieve lasting Digital Transformation. Gartner has identified a model for digital business growth that binds together data, analytics, technology, and forward-looking transformation capabilities. The Gartner Research Board said that data and analytics (D&A) leaders are uniquely positioned to drive this strategic organizational change that will make their companies behave like 'digital native' leaders.  "The most advanced and successful D&A leaders are driving new opportunities to use digital capabilities – often data and analytics products – to capture value. Those opportunities should directly connect to the business priorities," said Mario Faria, vice president at Gartner . Digital Business Market Development At the same time, some leaders are using digital and D&A to create whole new business models. These leaders – which Gartner named the CxO

Anywhere, Anytime Workplace Demand for SASE

The ongoing adoption of flexible working models within the enterprise market has significant implications for typical IT organizations that must now support knowledge workers and front-line employees that operate outside the corporate network perimeter. The global COVID-19 pandemic created IT networking and security challenges. The expansion of the distributed workforce, an increasing reliance on cloud computing infrastructure, and the requirement to securely connect online employees -- wherever they choose to work, at any given moment in time. Legacy IT solutions that have rigid network underlays and a requirement for on-premises infrastructure cannot adequately deal with these trends. This 'Anywhere, Anytime Workplace' led to demand for new Secure Access Service Edge (SASE) solutions, with networking and security delivered as-a-service. Anywhere, Anytime Workplace Market Development   Although converging networking and security capabilities offer enterprises a promising solut

The Metaverse Raised Virtual Reality Interest

After years of slow growth and limited use cases, the Virtual Reality (VR) market is now forecast to grow significantly over the next five years. Consumer interest in VR games and media continues to grow after the COVID-19 pandemic accelerated activity. At the same time, the need for employee enablement and immersive content within the enterprise environment remains strong. According to the latest market study by ABI Research, over 90 million Head Mounted Display (HMD) shipments in 2027 will drive total VR market revenues to reach over $95 billion across hardware, software, and services. Virtual Reality Market Development "The virtual reality market is no stranger to false starts, with identifiable efforts in VR dating back to the 1980s and 1990s. While the technology never found purchase results, the increased capability of VR hardware combined with the demand for immersive content in numerous markets, presents a significant opportunity," says Eric Abbruzzese, research direc