Region Deep-Dive
iNingizimu-mpumalanga ye-Asia
Izilimi eziyinhloko kulesi sifunda: Bahasa Indonesia · Tiếng Việt · ไทย · English · Bahasa Melayu
Amapulatifomu ahlobene abhalwe ngaphansi kwe-Intelligence yamapulatifomu. Inombolo ngayinye ngezansi ingahlolwa embhalweni womthombo owandisiwe. I-intelligence yamapulatifomu.
Key Research
Source notes and the methodology audit that underpin this region.
QImakethe yokuthengiselana ku-inthanethi ye-iNingizimu-mpumalanga ye-Asia inkulu kangakanani, futhi ikhula kanjani?
I-Platform GMV $157.6B (2025, +22.8%, Momentum Works); I-e-Conomy SEA ebanzi ye-ecommerce ~$181B (2025, kufaka phakathi iziteshi ezingezona ezepulatifomu)
I-+22.8% (2025 yesikhulumi se-GMV); esinye sezifunda ze-ecommerce ezikhula ngokushesha emhlabeni (Thailand eshesha kakhulu ~+52%)
Nweba: isigaba soqobo sombiko womhlaba (imininingwane yezwe/imakethe encane nemithombo)
A full Zulu translation of this report is not available yet — showing the English edition below.
5.5 Southeast Asia (one of the world’s fastest-growing ecommerce regions)
- Total size (two definitions):
- e-Conomy SEA (Google/Temasek/Bain): 2024 Southeast Asia digital-economy GMV $263B (+15%), of which ecommerce $159B; 2025 digital economy over $300B, ecommerce about $181B.
- Momentum Works (platform GMV only): 2024 $128.4B → 2025 $157.6B (+22.8%), with top platforms’ share rising to 98.8%.
- Platform landscape: Shopee is #1 (2025 global GMV $127.4B, of which SEA about $66.8B); TikTok Shop is rising fast (Thailand 2025 revenue ฿54.4 billion, about 4× growth, overtaking Lazada into second place); Lazada is third; Tokopedia has been folded into the TikTok ecosystem. Chinese platforms account for about 50% of Southeast Asia ecommerce GMV.
- Source: https://kr-asia.com/tiktok-sea-alibaba-owned-e-commerce-corner-asean-markets ; https://www.baijing.cn/article/55754 ; https://www.yiofong.com/news/2510312802
- Video commerce is the growth engine: 2025 ASEAN-6 ecommerce transaction value crossed $180 billion, pulled mainly by video/live commerce.
- Source: https://dxpress.gelonghui.com/p/3531912
- Country snapshot (2024–2025):
| Country | Size | Growth / key points | Source |
|---|---|---|---|
| Indonesia | 2025 ecommerce over $46B | Southeast Asia’s largest ecommerce market; Shopee dominant, TikTok/GoTo ecosystem linkage | https://www.globaldata.com/media/banking/indonesias-e-commerce-market-surpass-46-billion-2025-forecasts-globaldata/ |
| Vietnam | 2024 ecommerce $25B (+20%) | Ecommerce already >10% of retail; may reach $70B by 2030; TikTok Shop competing hard with Shopee | https://en.baochinhphu.vn/print/viet-nams-e-commerce-market-up-20-in-2024-111250107155234946.htm |
| Thailand | TikTok Shop 2025 revenue ฿54.4 billion (about 4×) | Ecommerce melee: Shopee vs TikTok Shop vs Lazada; TikTok Shop already profitable | https://m.163.com/dy/article/KVU2461H05118A6A.html |
| Philippines | 2024 about $24.5B | May exceed $75B by 2033; Shopee/Lazada/TikTok Shop as the big three | https://www.amz123.com/kx/SIcwmaDI |
| Malaysia | B2C expected $21.42B by 2029 | e-Conomy SEA 2025 says it has ASEAN’s fastest digital-economy growth | https://www.researchandmarkets.com/reports/6191229/malaysia-b2c-ecommerce-market-size-and-forecast |
| Singapore | B2C $16.39B (2024) → $25.5B (2029) | Platform market +21% in 2024, Shopee in the lead | https://www.globenewswire.com/fr/news-release/2026/01/29/3228356/28124/en/Singapore-B2C-Ecommerce-Industry-Report-2025-A-25-5-Billion-Market-by-2029-from-16-39-Billion-in-2024-Size-Forecast-by-Value-and-Volume-Across-80-KPIs.html |
Definition note: Southeast Asia totals exist in two series — e-Conomy SEA (broad definition, including non-platform and services, $181B/2025) and Momentum Works (platform GMV only, $157.6B/2025); Thailand nationwide ecommerce $200–220B is an extremely broad definition, and Malaysia RM937.5B (9M2025) is a national digital-economy statistic — none of these is directly comparable to B2C GMV.
QYiwaphi amapulatifomu ayi-5 aphambili okuthengiselana ku-inthanethi e-iNingizimu-mpumalanga ye-Asia, futhi abekwe kanjani?
Top 3 bamba 98.8% : Shopee (~53%) + TikTok Shop (~29% , kabili ukuze $45.6B ukuthatha #2) + Lazada (~17%); I-Amazon.sg ne-Tiki izilinganiso zomsila omude (okuhlanganiswe kuphela ~1.2%).
Nweba: isigaba soqobo sombiko we-Top-5 (amathebula e-GMV / imali engenayo / abasebenzisi / ukubekwa)
A full Zulu translation of this report is not available yet — showing the English edition below.
7. Southeast Asia
Ranking basis: by Momentum Works Ecommerce in SEA 2026 platform GMV (CY2025 total $157.6B, +22.8%; top 3 hold 98.8%). Another definition, e-Conomy SEA (Google-Temasek-Bain), puts 2025 ecommerce at about $181B (including non-platform channels) — the two definitions must not be mixed. Ranks 4–5 are estimates (Momentum Works only publishes granularity for the top three; the long tail totals only ~1.2%).
| Rank | Platform | Company | GMV 2025 | Share | Positioning & strengths |
|---|---|---|---|---|---|
| 1 | Shopee | Sea Ltd | Southeast Asia $83.2B; global $127.4B (+26.8%) | ~53% | Mass market+gamification+owned logistics (SPX)+SeaMoney; Indonesia share 54% |
| 2 | TikTok Shop (incl. Tokopedia Indonesia) | ByteDance | Southeast Asia $45.6B (about 2×); global about $64B | ~29% | Live/content commerce; after the 2023 Indonesia ban, acquired ~75% of Tokopedia for $1.5B and integrated operations |
| 3 | Lazada | Alibaba | about $26.9B (derived: 98.8%×157.6−83.2−45.6) | ~17% | Alibaba flagship; owned logistics; overtaken by TikTok Shop into third; Vietnam Lazada+Tiki only 3% left |
| 4 | Amazon.sg | Amazon | about $1–2B (est.) | <1.5% | Singapore-focused; Prime Now/Fresh |
| 5 | Tiki | Tiki Corp | about $0.5B (est.) | <1% | Vietnam local platform (electronics/books); share declining |
⚠️ Definition and conflict notes: 1. Two total-size definitions: Momentum Works platform GMV $157.6B (2025) vs e-Conomy SEA ecommerce $181B (including non-platform) — cite the series when quoting. 2. TikTok Shop SEA $45.6B (TNGlobal "~2x") differs from some media "+132%" and Indonesia-only $13.1B (MOCA) (the latter may understate or exclude Tokopedia volume). 3. Do not mix Shopee Southeast Asia $83.2B with global $127.4B; Lazada GMV is a derived estimate (Alibaba does not disclose). 4. "Chinese platforms about 50% of SEA GMV": TikTok Shop (~29%)+Lazada (~17%) ≈46%, plus Temu/Shein (not in the platform GMV series) approaches 50% — partially supported. 5. Country divergence: Indonesia 2025 platform GMV $57.7B (Shopee 54%), growth slowing (Ministry of Trade: ecommerce only +2.2%); Vietnam Top4 platform sales 429 trillion dong (+34.8%), TikTok Shop share up to ~41%; Thailand the fastest growth (~+52%, second-hand).
Sources (selected): Momentum Works — https://thelowdown.momentum.asia/new-report-southeast-asias-platform-ecommerce-reaches-us157-6b-in-2025-with-top-platforms-expanding-share-to-98-8/ ; TikTok Shop SEA — https://technode.global/2026/02/11/tiktoks-southeast-asia-doubles-gmv-year-on-year-to-45-6b-in-2025/ ; Shopee Indonesia — https://www.chwang.com/news/204507076900 ; Vietnam TikTok Shop share — https://zxchuhai.com/202510/44968.html ; Indonesia GMV — https://zxchuhai.com/202604/46514.html
QYini okufanele ibhekwe?
- TikTok Shop SEA GMV iphindwe kabili ku-$45.6B , yadlula i-Lazada; Isabelo se-Vietnam sikhuphuke safinyelela ku-~41%
- Ukuhlukana kwezwe: Isiteji sase-Indonesia GMV $57.7B (Shopee 54%) ukukhula kancane (i-ecommerce kuphela +2.2%); E-Thailand eshesha kakhulu (~+52%)
- Izinkundla zamaShayina zibiza ~46– 50% ye-SEA GMV (TikTok Shop ~29% + Lazada ~17% , kanye ne-Temu / Shein esondela ku-50%)
- Ungaxubani izincazelo ezimbili: Momentum Works $157.6B (izinkundla kuphela) vs e-Conomy SEA $181B (kuhlanganise nokungeyona ingxenye yesikhulumi)
QYiziphi izinto ezibalulekile ezitholiwe?
- I-Top 3 ibambe i-98.8%; amafasitela angenayo akhona mpo, i-ecommerce yokuqukethwe, kanye nezinsizakalo zendawo
- I-TikTok Shop iyinkundla ekhula ngokushesha ye-SEA (~2x)
- I-ecommerce yevidiyo/yokusakaza bukhoma iyinjini yokukhula ye-SEA (i-ASEAN-6 2025 i-ecommerce idlule i-$180B)
QAs a merchant, how should I choose and lay out my e-commerce business here?
A practical guide for merchants: which platforms to prioritise in this region, in what order to enter, and what to watch out for.
How to choose a platform
ISoutheast Asia iyimakethe ehamba phambili ngomakhalekhukhwini, izwela entengweni, yamazwe amaningi (iIndonesia iyona enkulu, i-GMV yenkundla u-$157.6 billion, +22.8%). I-Shopee (isabelo esingu-53%, izokuthutha ezakhelwe zona i-SPX + ukukhokha kwe-SeaMoney) iyinketho yokuqala yemakethe yomphakathi; i-TikTok Shop (isabelo esingu-29%, i-GMV iphindwe kabili) ifanelekile ezimonyweni, efashini, ku-FMCG okuqhutshwa okuqukethwe/ukusakaza bukhoma; i-Lazada ithambekela kumabrendi amaphezulu naphakathi nasemqondweni wezimpahla zangempela; amanzi aphansi awela imingcele afana ne-Temu angengezwa. Okokuqala khetha izwe elilodwa noma amabili okuhlosiwe (Indonesia/Vietnam/Thailand) bese unquma inhlanganisela yezinkundla.
Entry path & rollout
Imikhiqizo ejwayelekile yomphakathi iqala nge-Shopee (ithrafikhi enkulu, ukumboza kwezokuthutha okubanzi); izigaba zokuqukethwe zengeza i-TikTok Shop (ukusakaza bukhoma + amavidiyo amafushane, isabelo saseVietnam cishe ngo-41%); ukwenziwa kwebrendi kusetshenziswa i-Lazada. Izilimi zamazwe, izinkokhelo (ukutholakala okuphezulu kwezikhwama ze-elektroniki), izikhathi zezokuthutha zihluka kakhulu, kutuswa ukuba kuqale kujulwe ezweni elilodwa kwakhiwe imodeli yenzuzo bese kuphindwa; ngo-2025 ikhomishini ikhushuliwe jikelele, kudingeka kubalwe amanani ngaphambi kokubeka amanani.
Watch-outs & risks
Ikhomishini ye-Shopee eVietnam yakhushulwa kusuka ku-3–5% ya ku-4–7% kwengezwa nemali yobuchwepheshe engu-5%, kwabangela ukusayina kwesikhalazo abathengisi abacishe baba ngu-2,000 — ukunyuka kwezindleko kungubungozi ojwayelekile; isibonelo sokuvalwa kwe-social commerce eIndonesia nophenyo lokulwa nokuncintisana okungafanele lwe-KPPU (TikTok-Tokopedia) kubonisa ukuthi ukulawulwa kungashintsha kungazelelwe; ukukhula kwemakethe enkulu yaseIndonesia kumile (ngokomthombo woMnyango Wezohwebo +2.2% kuphela); indawo yokugcina yasendaweni, izinkokhelo zendawo, insiza yamakhasimende yendawo kunquma izinga lokugcinwa; izinqubomgomo zentela yokungenisa zamazwe ngamazwe ziyaphindaphindeka.
Platform quick-fit table
What type of seller each Top platform in this region fits best (click a platform for the full merchant analysis):
| Platform | Best-fit sellers |
|---|---|
| Shopee | Kufanelekile: abathengisi bezigaba zomphakathi ezinokuncintisana kwamanani, zokwanda ngobuningi (izingubo, i-FMCG, zasekhaya, izingxenye ze-elektroniki), ikakhulukazi abathengisi abancane naphakathi abafuna ukusabalalisa eziteshini eziningi zamazwe ayisithupha aseSoutheast Asia; abathengisi abanochungechunge lokuhlinzekwa oluwela imingcele bangahlela naseBrazil kanyekanye. Akufanelekile: abathengisi abancike kumanani aphezulu/ukukhokhiswa kwebrendi, abangenawo amandla amanani aphansi — laba kutuswa kakhulu ukuba basebenzise i-Lazada (umqondo webrendi) noma isayithi elizimele. |
| Lazada | Kufanelekile: abathengisi bamaphezulu naphakathi abafuna ukubonakala kwebrendi/izimpahla zangempela, amabrendi aphumela emazweni ngamazwe afuna ukusebenzisa uchungechunge lokuhlinzekwa lwase-Alibaba oluwela imingcele (izingubo, izimonyo, ezedijithali), kanye nabathengisi ababeka phambili ikhwalithi yokugcwaliseka ye-Lazada Logistics. Akufanelekile: abathengisi bokwanda ngobuningi abafuna amanani aphansi kakhulu nethrafikhi enkulu kunazo zonke (ithrafikhi ithambekela ngokusobala ku-Shopee/TikTok Shop). |
| Amazon.sg | Kufanelekile kubathengisi benkambiso/be-fektri abanochungechunge lokuhlinzekwa oluzinzile, abakwazi ukuthwala izindleko zesitoko se-FBA nezikhangiso, kanye nabathengisi abanophawu lokuhweba abangakwenza ukubhaliswa kwenkambiso; kuqoqa zonke izigaba, imikhiqizo ejwayelekile ye-3C, yasekhaya, yabantwana njll. inenzuzo yokuthengisa ngobuningi. Akufanelekile kwabaqalayo abanenkonzo encane, abangenakho ukwehlukanisa, nabangenamali — izindleko nomncintiswano kudla inzuzo ngokushesha; ukunweba ukuwela izifunda (Yurophu/Japhan/Mpumalanga Ephakathi njll.) kudinga ukuxazulula i-VAT nezitifiketi zendawo kanyekanye. |
| Tiki | Kufanelekile: abathengisi abancane abanochungechunge lokuhlinzekwa lwasendaweni eVietnam, abagxile ezigabeni ezimisweni ezifana ne-elektroniki/izincwadi/izingane, ababeka phambili ulwazi lokulethwa ngosuku olufanayo, abaqala ngobuncane, noma abasebenzisa umqondo wayo womkhakha ukuvivinya ibrendi. Akufanelekile: abathengisi abafuna ukwanda ngobuningi, nabathengisi abasha abawela imingcele abangenawo umzimba wendawo namandla okusebenza ngesi-Vietnamese. |
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