Pro
Technology & Electronics
Middle East & Africa Core Banking Solution Market, by Services, 2017-2025
| Label | USD Trillion |
|---|---|
| 2018 | 0.10257366 USD Trillion |
| 2019 | 0.1141940729944 USD Trillion |
| 2020 | 0.127069147638839 USD Trillion |
| 2021 | 0.141326515881222 USD Trillion |
| 2022 | 0.157105715164137 USD Trillion |
| 2023 | 0.173787172106256 USD Trillion |
| 2024 | 0.19223283274502 USD Trillion |
| 2025 | 0.212628432576046 USD Trillion |
| 2026 | 0.235179159661566 USD Trillion |
| 2027 | 0.260111679640639 USD Trillion |
| 2028 | 0.297392598824672 USD Trillion |
| 2029 | 0.340003640062644 USD Trillion |
| 2030 | 0.388704771454493 USD Trillion |
| 2031 | 0.444363986352265 USD Trillion |
| 2032 | 0.545123120000005 USD Trillion |
Data Source: Wantstats Repository
Market Dynamics
The Canadian e-commerce market is flourishing as it accounts for a significant portion of the country’s retail sales. According to Statistics Canada, Canadian consumers spent approximately $32.7 billion on e-commerce sales in 2018. The market is expected to maintain a steady growth rate over the next several years as Canadians adopt digital technologies and prefer to shop online. The increasing use of smartphones and tablets, and the increased availability of high-speed internet access, have been major drivers in the growth of the e-commerce market in Canada. In addition, the emergence of newer technologies such as artificial intelligence, blockchain, and virtual reality have helped accelerate the growth of online shopping. Moreover, the emergence of several marketplaces, such as Amazon, eBay, Alibaba, and Walmart, has made it easier for consumers to compare prices, find products, and purchase items online, all of which has boosted the growth of online shopping in Canada. It is expected that Canada’s e-commerce market will continue to thrive through 2032. It is expected to reach a total market size of $108.3 billion by 2032, meaning that the current growth of 9.7% should be extended to average more than 19.0% throughout the forecast period of 2018 to 2032.
During this period, mobile commerce is poised to lead the way, accounting for the largest share (43%) of total e-commerce spending in 2032. Furthermore, several marketplaces are expected to continue expanding their presence in the Canadian market, enabling them to capture an increasing share of total retail e-commerce spending. The growth of the e-commerce market in Canada signals that retailers must optimize their digital presence in order to capitalize on the large opportunities presented by this digital transformation. This includes offering competitive prices and wider product selection, as well as driving investments in digital marketing and customer service technologies. Furthermore, retailers need to develop an omnichannel strategy that blends the physical and digital shopping experiences in order to foster customer loyalty and attract new customers. Overall, the demand for e-commerce in Canada is expected to remain strong and the market trends suggest that digital technologies will continue to drive growth in the Canadian e-commerce sector.
Research Methodology
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2023.
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This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.