Southeast Asia E-Commerce Sales Expected To Double By 2030

E-commerce in Southeast Asia is experiencing rapid growth, with sales projected to more than double from $184 billion in 2024 to $410 billion by 2030, driven largely by physical goods and food delivery sectors. This expansion is supported by improved digital infrastructure, including 4G/5G connectivity, digital payments, and logistics, which have enabled hundreds of millions of new online consumers over the past decade. Major platforms such as Alibaba-owned Lazada and Singapore-based Shopee have reached profitability and continue to dominate the market, allowing them to increase commission fees. The sector is shifting towards profitability, enhanced customer experience, and sustainable growth, with banks increasingly involved by offering merchant services, payment processing, and leveraging e-commerce data for financial insights. Additionally, open banking initiatives are integrating financial services into e-commerce platforms, further fueling the ecosystem's development. While growth may slow as the market matures, the dominance of large players and ongoing innovation in technology and services maintain strong momentum in the region's e-commerce landscape.