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Digital commerce transactions to hit 1.1 tln in 2024, driven by QR code payments and emerging markets

Tuesday 14 January 2020 | 11:40 CET | News
Global digital commerce transactions volumes are set to soar by 73 percent over the next 5 years, from 641 billion in 2019 to 1.1 trillion in 2024, according to a new report from Juniper Research. Emerging rather than developed markets will be the driving force behind increased digital commerce, with markets outside North America and West Europe accounting for 77 percent of total digital commerce transaction volume in 2024, said the study.

The new research found that QR code payments, which are fundamentally suited to use in emerging economies, will be the most used digital commerce mechanism in terms of volume throughout the next 5 years, accounting for 27 percent of all digital commerce transactions in 2024. The research also found that QR payments outside China will rise in popularity, accounting for just over a quarter of global QR payments in 2024.

Last year, Juniper predicted that global spending on digital commerce is expected to reach USD 18.7 trillion by 2024, from USD 11.2 trillion in 2019.  


 



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Categories: Internet / Mobile & Wireless
Countries: World
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