A new study by Juniper Research predicts a significant surge in eCommerce payments for digital goods, forecasting a leap from $87 billion in 2024 to $188 billion by 2029. The research identifies emerging markets, such as India and Brazil, as the primary drivers of this global growth, attributing it to increased infrastructural investments that improve access to eCommerce platforms.

The study highlights the role of high-speed internet expansion in rural areas of emerging markets in accelerating the user base for services like video streaming. It also notes the growing popularity of mobile money solutions, such as M-Pesa, in making the purchase of digital goods more accessible.

Juniper Research forecasts that payments for digital subscription services will grow fastest in the Indian Subcontinent over the next five years, driven by a wider range of pricing plans and language options offered by services like Spotify.

Lorien Carter, Research Author at Juniper Research, emphasises the need for vendors to adapt to this changing landscape. "To capitalise on this revenue growth, eCommerce merchants must optimise their platforms to support local payment methods, maximising accessibility for a growing user base."

The report suggests that vendors should localise their offerings, provide flexible pricing models, and invest in machine learning for hyper-personalised recommendations to capture diverse audience preferences.