Where is the fastest growing e-commerce market in the world?

China is by far the world’s largest e-commerce market, according to Statista Market Insights. This year, China’s e-commerce sales reached $1.24 trillion. While the market is currently declining, Statista analysts expect it to make up for lost momentum with a 62% increase to more than $2 trillion by 2029.

China accounts for the vast majority of revenue in Asia. However, other markets throughout the developing world are also growing rapidly. Markets that are not in China, the United States or Europe are expected to grow 53% over the next five years.

In Europe and the United States, e-commerce is expected to grow by 51% to 59% in the given time frame, with the US market second only to China.