, Indonesia
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Indonesia e-commerce market to hit $46.6b by 2025

It is driven by rising internet access and smartphone usage.

Indonesia’s e-commerce market is on track to reach $46.6b (IDR738.2t) by 2025, according to GlobalData.

The growth is being driven by rising internet access, smartphone usage, and a growing middle class, alongside mobile wallet adoption and online shopping events.

The market has grown from $18.2b (IDR288.5t) in 2020 to $40.8b (IDR646.2t) in 2024, with a compound annual growth rate (CAGR) of 22.3%.

“Due to the rise of online retailers and payment systems, a growing middle class, and rising internet population, Indonesia’s e-commerce business is expanding substantially,” said said Sidharth Das, banking and payments analyst at GlobalData. “Online shopping festivals such as National Online Shopping Day (Harbolnas) have also contributed to the overall growth of e-commerce in Indonesia.”

Government initiatives, such as banning social media-based e-commerce in 2023, aim to protect traditional businesses and reduce fraud. These moves, along with improved digital infrastructure, have boosted consumer confidence.

New services are also fueling growth. In 2024, Shopee and YouTube launched a feature that lets users buy products directly from videos.

Digital payments dominate, accounting for 49.3% of e-commerce transactions in 2024. Mobile wallets like GoPay and DANA are especially popular, with GoPay surpassing 30 million downloads by July 2024. Bank transfers held a 30.2% share, whilst card payments made up 7.5%. Cash usage continues to decline as digital methods gain ground.

Looking ahead, the market is expected to reach $73.2 b (IDR1,159.8t) by 2029, growing at a 12.0% CAGR from 2025.
 

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