China is the current leader in the e-commerce industry, and will remain in the lead until at least 2025.
According to numbers presented by SafeBettingSites.com, the Chinese e-commerce industry will produce $1626-billion in yearly revenue by 2025. In 2021, the annual income of the Chinese e-commerce industry stood at $1368-billion.
The US has been playing catch-up with China regarding the e-commerce industry. According to the data available on Statista, the US e-commerce industry accounted for $799,7-billion in 2021. However, it will see rapid growth in the next few years: having brought in $449-billion in revenues in 2017, annual revenue stood at 799,7-billion in 2021 and is expected to grow up to $1365-billion in 2025.
Therefore, in the period from 2017 to 2025, the US e-commerce industry is expected to grow by more than 204%. Similarly, in the period from 2021 to 2025, the US industry is expected to grow by 71%.
In China, the growth from 2017 to 2025 is expected to be just 61% compared to 204% in the US. From 2021 to 2025, the Chinese e-commerce industry should grow by about 19%. Regardless, China is expected to hold on to its leadership position in the next few years but its growth rate is expected to slow down compared to the US.
As per the report, Japan will be the third biggest e-commerce industry in 2025, with $324,6-billion in revenues. The UK and Germany will complete the top five.
Vyom Chaudhary, an editor at SafeBettingSites.com, comments: “China became the e-commerce superpower during the last decade. However, the industry’s growth rate in China is slowing down, and the US is set to significantly reduce the gap by 2025. If the same trend continues beyond 2025, the US should overtake China by the end of this decade.”