5 Biggest Industries in the World in 2021

4. E-commerce

Market value: $9.09 trillion

Ranking 4th on the list of 10 biggest industries in the world in 2021 is the e-commerce industry which hit an all-time high of 16.4% of overall global retail sales as countries locked down and stores were forced to close based on data from McKinsey. In the first half of the decade, the global e-commerce market is projected to expand at a compound annual growth rate of 8.1%, with Asia Pacific, Europe, and the Middle East rising faster than the United States.

Chinese e-commerce giant Alibaba Group Holding (NYSE: BABA) holds the largest market for online retail shopping globally as it operates through Taobao.com (15%) and Tmall.com (14%) while the largest online retail company in the US, Amazon.com (NASDAQ: AMZN) accounts for 13% of the global market. Alibaba’s revenue in the quarter that ended in December 2020 was $29.9 billion in the core commerce alone. 

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