SEA e-commerce market to reach $140b by 2030

Sales in the region have surged 46 times since 2012.

Southeast Asia’s e-commerce market is expected to more than double from $184b in 2024 to $410b by 2030, according to Nextwave Southeast Asia 2025 report by DBS and market insights firm Cube. This translates to a compound annual growth rate of 14%.

The report said that e-commerce sales in the region have surged 46 times since 2012, with platforms gaining widespread traction as a primary shopping channel.

Several major players have already turned profitable, driven by market consolidation, higher platform fees, and tighter focus on core offerings. Many have also expanded into logistics and last-mile delivery to boost operational efficiency.

With the sector maturing, the report said companies are focusing on cost control, steady revenue, and customer retention. Platforms that deliver more personalised and engaging experiences are expected to strengthen market share.

Artificial intelligence is also playing a growing role in this, moving beyond backend functions to drive tailored recommendations and immersive shopping journeys.

Newer players that leverage AI or offer frictionless payment options could disrupt incumbents and attract capital.

The report also noted a shift in how tech companies are funding growth. Start-ups and scale-ups are expected to rely less on venture capital and explore credit-backed financing for more balanced capital structures and lower funding costs.

DBS said this reflects changing market dynamics and a broader push for long-term sustainability in Southeast Asia’s digital economy.