Digital Commerce Forecasted To Explode To $8 Trillion By 2020

New data released by the always bullish on digital Juniper research is forecasting a major boost to the total global value of digital commerce with the next four years.

The total worldwide digital commerce market was estimated by Juniper to be worth about $4.9 Trillion as of 2015 – figuring forecasts will jump by around 63 percent to just over $8 trillion by 2020.

Japan, the third largest economy on Earth (as ranked by GDP), had a GDP of $4.6 trillion in 2014. China, in the No. 2 spot, has a GDP of about $10.5 trillion.

“The digital commerce market as a whole is seeing an ever increasing propensity towards an omni-channel approach, and this extends to eCommerce where the mobile and tablet platform is seeing increased use towards the purchasing of physical goods, either for delivery or collection. In addition, global online banking users as a proportion of banked individuals are forecast to cross the 50 percent mark in 2016.”

The online boost, notes Juniper, is being driven increasingly by event-based eCommerce such as Singles Day, Cyber Monday and (to a lesser but possibly emerging extent) Prime Day.

The report also predicts that the total value of payments made at NFC terminals will grow by as much as 400 percent between 2016 and 2020 and that the total volume of Mobile & Online Money transfer transactions will surpass those seen from remote physical goods by the end of 2016.