Despite years of growth, e-commerce accounted for 23% of global retail sales in 2025, but could reach 25% by 2028, adding over $2T in sales.¹

E-commerce is a global theme, poised to benefit as expanding broadband and mobile internet penetration coincide with a rising middle class in developing markets.

Selling advertising has become nearly as important as selling goods and services on e-commerce platforms. Ad sales have evolved into a key revenue source and growth engine for these companies.