Global eCommerce experienced strong yet volatile growth during the pandemic years, with revenues rising at a CAGR of 14% between 2017 and 2024.
While this period was marked by ups and downs, the market is now entering a more stable phase. Growth is moderating to a steadier pace, reaching +9.8% in 2025 and +8.6% in2026. This stabilization culminates in a historic milestone: for the first time, global eCommerce revenues surpass the US$5 trillion mark in 2026.
The concentration in eCommerce is steadily moving toward marketplaces.In 2026, they are projected to generate 87% of global revenues, up one percentage point from 2025. This continuous increase highlights the growing dominance of large marketplace ecosystems, which capture nearly nine out of ten eCommerce dollars worldwide. Independent online stores, in contrast, are gradually losing relative importance as consumers and retailers alike turn to platforms such as Amazon, Alibaba, and Shopee.
Five Core Theses Defining Global eCommerce in 2026
