Hampshire, UK – 14th January 2020: A new study from Juniper Research found that global transaction volumes from digital commerce will exceed 1.1 trillion by 2024, up from 641 billion in 2019.
The new research, Digital Commerce Regional Analysis: Key Trends, Segment Analysis & Regional Forecasts 2020-2024, found that emerging markets, rather than developed markets, will be the driving force behind increased digital commerce. It also found that markets outside North America and West Europe will account for 77% of total digital commerce transaction volume in 2024, driven by QR code payment system rollouts and the displacement of the cash in emerging economies. The research recommended that established fintechs seek local partnerships with key stakeholders as early as possible in order to facilitate service rollouts, or risk being outmanoeuvred by local fintechs.
For more insights, download the free whitepaper: Key Regional Strategies for Digital Commerce.
QR Code Payments Expanding Beyond China
The new research found that QR code payments will be the most used digital commerce mechanism in terms of volume throughout the next 5 years, accounting for 27% 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.
Research author Nick Maynard explained: “QR payments will gain popularity as they are fundamentally suited to use in emerging economies. Its low infrastructure requirements make QR the best fit for digitising previously cash-based economies, making QR approaches vital to established financial players seeking new markets”.
Africa & Middle East is a Highly Important Digital Commerce Battleground
The research also found that digital commerce in Africa & Middle East is becoming increasingly important, with services rapidly diversifying beyond money transfer. The research identified the Africa & Middle East market as a $1 trillion digital commerce opportunity, making it the crucial next battleground. Juniper Research identified the mobile channel as essential for market development, meaning that partnerships with mobile network operators can be highly beneficial over the next 5 years.
Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.
For further details contact Sam Smith, Press Relations
T: +44(0)1256 830002
E: sam.smith@juniperresearch.com
Digital Commerce Transactions to Exceed 1.1 Trillion by 2024, Driven by Emerging Markets
Join the Juniper Research press list
Get our latest updates on technology industry trends and market forecasts before anyone else.
For further details contact:
Sam Smith, Press Relations
Latest research, whitepapers & press releases
-
ReportJuly 2026Fintech & PaymentsPOS Market: 2026-2031Our Point of Sale (POS) Market research suite provides detailed and insightful analysis of this evolving market; enabling stakeholders - from POS hardware manufacturers, payment infrastructure providers, software developers, and hospitality and retail vendors - to understand future growth, key trends, and the competitive environment.
VIEW -
ReportJuly 2026Fintech & PaymentsDigital Travel Credential Market: 2026-2035Our Digital Travel Credential Market research suite provides detailed analysis of this rapidly changing market; allowing digital travel credential solution providers, regulatory bodies, border control authorities, airlines, and airport operators to gain a comprehensive understanding of key digital travel trends, implementation challenges, future growth opportunities, and the competitive environment.
VIEW -
ReportJuly 2026Fintech & PaymentsNetwork Tokenisation Market: 2026-2031Our Network Tokenisation research suite provides a comprehensive and in-depth analysis of the ecosystem surrounding network tokenisation, enabling stakeholders such as merchants, payment gateways, token service providers and token requestors to understand future growth, key trends and the competitive environment.
VIEW -
ReportJuly 2026Telecoms & ConnectivitySponsored Roaming Competitor Leaderboard: 2026Our Sponsored Roaming Competitor Leaderboard 2026 delivers competitor benchmarking and analysis of 14 leading sponsored roaming vendors.
VIEW -
ReportJune 2026Telecoms & ConnectivityRAN Vendors Competitor Leaderboard: 2026Our Radio Access Network (RAN) Vendor Competitor Leaderboard provides insightful analysis of a market that is experiencing significant change currently, and will continue to do so over the next five years.
VIEW -
ReportJune 2026Fintech & PaymentsChargeback Management Market: 2026-2031Our Chargeback Management research suite provides detailed analysis of this fast-changing market; allowing chargeback management providers to gain an understanding of key payment trends and challenges, potential growth opportunities, and the competitive environment.
VIEW
-
WhitepaperJuly 2026Fintech & PaymentsBeyond the Boarding Pass: The Digital Travel Credential Paradigm
Our complimentary whitepaper, Beyond the Boarding Pass: The Digital Travel Credential Paradigm, examines the rapidly evolving state of the digital travel credential market.
VIEW -
WhitepaperJuly 2026Fintech & PaymentsThe Top Three Drivers of Network Tokenisation Adoption
Our complimentary whitepaper, The Top Three Drivers of Network Tokenisation Adoption, examines the state of the network tokenisation market; considering its impact on different payment modalities, how it is shaping the modern payments landscape through safer, more secure payments, and how it could unlock the potential of agentic commerce.
VIEW -
WhitepaperJune 2026Fintech & PaymentsMoney20/20 Europe 2026 Key Takeaways: What You Need to Know Post-event
Money 20/20 Europe once again brought together people from across the fintech, payments and identity ecosystems; creating three days of discussions, announcements and networking.
VIEW -
WhitepaperJune 2026Fintech & PaymentsChargeback Management: The Fightback Against Friendly Fraud
Our complimentary whitepaper, Chargeback Management: The Fightback Against Friendly Fraud, examines the growing impact of friendly fraud on the chargeback management space, as well as how chargeback management tools are mitigating this threat.
VIEW -
WhitepaperJune 2026Telecoms & ConnectivityAgentic and Conversational AI: Streamlining Revenue Opportunities
Our complimentary whitepaper, Agentic and Conversational AI: Streamlining Revenue Opportunities, explores the challenges and opportunities for operators and enterprises as conversational AI becomes more embedded in the consumer experience.
VIEW -
WhitepaperJune 2026Telecoms & ConnectivityNo Tower? No Problem: How Direct to Cell is Rewriting the Rules of Connectivity
Our complimentary whitepaper explores consumer demand for direct to cell services and provides strategic recommendations for how MNOs can optimise these services.
VIEW
-
Fintech & Payments
Digital Travel Credentials: 1.2 Billion Passengers to Adopt DTCs Globally by 2035, Fuelled by Passenger Demand for Seamless Journeys
July 2026 -
Fintech & Payments
Network Tokenisation to Secure 2.4 Trillion Global Transactions Between 2026 and 2030 – Representing 86% of Applicable Transactions
July 2026 -
Telecoms & Connectivity
Juniper Research Identifies BICS, Telna, and Vodafone Procure & Connect as Leaders in the Sponsored Roaming Market
July 2026 -
Fintech & Payments
Digital Identity Verification Checks to Reach 175 Billion Globally by 2030, with Biometric Verification the Fastest-growing Modality
July 2026 -
Fintech & Payments
Agentic Commerce to Reach 1.3 Billion Users Globally by 2031, as Card Infrastructure Leads the Way
June 2026 -
Fintech & Payments
Juniper Research Unveils Fintech & Payments Awards Winners for 2026
June 2026