South Korea E-commerce Market Size & Outlook, 2023-2030
The e-commerce market in South Korea is expected to reach a projected revenue of US$ 5,206.5 million by 2030. A compound annual growth rate of 22.4% is expected of South Korea e-commerce market from 2024 to 2030.
Revenue, 2023 (US$M)
$1,265.6
Forecast, 2030 (US$M)
$5,206.5
CAGR, 2024 - 2030
22.4%
Report Coverage
South Korea
South Korea e-commerce market, 2018-2030 (US$M)
Related Markets
South Korea e-commerce market highlights
- The South Korea e-commerce market generated a revenue of USD 1,265.6 million in 2023 and is expected to reach USD 5,206.5 million by 2030.
- The South Korea market is expected to grow at a CAGR of 22.4% from 2024 to 2030.
- In terms of segment, intermediary-oriented was the largest revenue generating deployment model in 2023.
- Intermediary-oriented is the most lucrative deployment model segment registering the fastest growth during the forecast period.
E-commerce market data book summary
| Market revenue in 2023 | USD 1,265.6 million |
| Market revenue in 2030 | USD 5,206.5 million |
| Growth rate | 22.4% (CAGR from 2023 to 2030) |
| Largest segment | Intermediary-oriented |
| Fastest growing segment | Intermediary-oriented |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Supplier-oriented, Buyer-oriented, Intermediary-oriented |
| Key market players worldwide | Amazon.com Inc, Alibaba Group Holding Ltd ADR, ASOS PLC ADR, Costco Wholesale Corp, DangDang.com, EBay Inc, Flipkart, JD.com Inc ADR, MercadoLibre Inc, Shopify Inc Registered Shs -A- Subord Vtg, Sea Ltd ADR, Walmart Inc, Wayfair Inc Class A, Zalando SE |
Other key industry trends
- In terms of revenue, South Korea accounted for 6.8% of the global e-commerce market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, South Korea e-commerce market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,266.7 million by 2030.
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E-Commerce Market Scope
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South Korea e-commerce market size, by deployment model, 2018-2030 (US$M)
South Korea E-Commerce Market Outlook Share, 2023 & 2030 (US$M)
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