SMEs Fuel Southeast Asia’s Path to Becoming World’s Second-Fastest Growing E-Commerce Market
Singapore, 18 May 2026 – 2C2P by Antom, Southeast Asia’s leading full-suite payments platform, released the latest study conducted by market intelligence firm IDC, revealing that the Southeast Asia e-commerce market is on a strong upward trajectory and is projected to become the second fastest-growing e-commerce market in the world with a 13.2% compound annual growth rate (CAGR) from 2024 to 2029, behind only India. Digital payments continue to dominate e-commerce growth, with Mobile Wallets and Local Payments seeing growing popularity for most of SEA The independent study commissioned by 2C2P and Antom, “How Southeast Asia Buys and Pays 2026: Unlocking SMEs’ Potential”, shows that SEA’s e-commerce market is projected to increase by 85.4% to hit US$289.8 billion by 2029. Digital payments are projected to account for 97% of total e-commerce transactions by 2029, up from 89% in 2024. The strongest growth is expected in domestic payments (real-time payments and local ban...