SINGAPORE – Singapore’s e-commerce platform market expanded by 21 per cent in 2025 from 2024, with total monetary value reaching US$5.9 billion (S$7.5 billion).
The growth is in tandem with that of the sector in South-east Asia, which saw strong momentum in 2025 as platform gross merchandise value (GMV) rose 22.8 percent year on year to US$157.6 billion, said Singapore consultancy Momentum Works on April 14.
Platform GMV is the total monetary value of goods or services sold through a company’s platform or marketplace over a specific period.
Non-platform e-commerce channels (such as a company’s own website, multi-brand retailers, and social platforms) contributed about US$27.8 billion, bringing South-east Asia’s total e-commerce GMV to US$185.5 billion.
Singapore’s platform GMV came in at US$5.9 billion in 2025, up from US$4.9 billion in 2024.
Shopee is the e-commerce platform sector leader in the Republic with 52 per cent market share, followed by Lazada with 36 per cent and Amazon and TikTok Shop tied with 6 per cent each.
In the region, Shopee, Lazada, and TikTok Shop (including Tokopedia) collectively controlled 98.8 per cent of the platform e-commerce market in 2025.
In its fourth report on e-commerce in South-east Asia, Momentum Works said growth was driven by leading platforms returning to expansion while continuing to enhance infrastructure, fulfilment capabilities and customer experience.
However, the report noted that the e-commerce industry is entering a new phase where competition is shifting from rapid expansion to greater control over demand generation, logistics and margins.
Despite the strong growth in 2025, the report noted that much of the region’s affordability in e-commerce sales remains supported by subsidies, vouchers and discounts rather than structurally lower costs, suggesting that e-commerce pricing has yet to reach its true floor.
Looking ahead, the report predicts that artificial intelligence will help shape the future of ecommerce, particularly in areas such as content creation and demand generation, with major platforms expected to play a central role in its development and deployment.
