77% of total digital commerce transaction volume is expected to come from the markets outside North America and West Europe
According to Juniper Research, global transaction volumes from digital commerce will exceed 1.1 trillion in four years, compared to 641 billion in 2019.
The research revealed that emerging markets will be the driving force behind increased digital commerce. Along with that, QR code payments will be considered as the most used digital commerce mechanism throughout the next 5 years. They will be accounting for 27% of all digital commerce transactions in 2024. Besides, QR payments outside China will increase in popularity, accounting for just over a quarter of global QR payments in four years.
As to digital commerce in Africa & the Middle East, it is becoming increasingly important, with services rapidly diversifying beyond money transfer. Those markets are estimated as a $1 trillion digital commerce opportunity, making it the crucial next battleground.