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Shopee Dominates Southeast Asia's e-Commerce GMV until 2024

Erlina Fury Santika 26/06/2025 19:32 WIB

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According to a Momentum Works report received by Katadata, Shopee dominated Southeast Asia's e-commerce gross merchandise value (GMV) in 2024, reaching US$66.8 billion with a 52% market share.

Estimated Gross Merchandise Value (GMV) of Southeast Asian e-Commerce by Top 4 Marketplaces (2020-2024)*

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Estimated Gross Merchandise Value (GMV) of Southeast Asian e-Commerce by Top 4 Marketplaces (2020-2024)*

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A Momentum Works report to Katadata indicates that the Southeast Asian e-commerce market is growing by 12% annually, with an estimated value of US$128.4 billion or Rp2,085 trillion (assuming an exchange rate of Rp16,290 per US$) in 2024. This figure is calculated from total paid, canceled, and returned sales, also known as gross merchandise value (GMV).

Three leading platforms, Shopee, TikTok Shop, and Lazada, hold the top positions, commanding an 84% market share in Southeast Asia.

Shopee holds the largest share, with an estimated GMV of US$66.8 billion or Rp1,088 trillion in 2024. This online shopping platform controls a 52% market share in Southeast Asia.

“Shopee maintains its lead. TikTok Shop is surging. Lazada is stable. Shopee is expanding its advantage with a 52% market share, driven by improved infrastructure and better monetization,” according to the Momentum Works report titled E-commerce in Southeast Asia 3.0, released Thursday, June 26, 2025.

Historically, since 2020, Shopee has consistently outperformed other e-commerce platforms, with its GMV ranging from US$24 billion to US$66 billion annually over the past four years.

TikTok Shop is rapidly expanding, especially after its integration with Tokopedia in Indonesia. In 2024, this ByteDance marketplace secured the second position after Shopee, with a GMV of US$22.6 billion or Rp368.15 trillion.

The following details the transactions of Shopee, Lazada, TikTok Shop, and Tokopedia in Southeast Asia since 2020, compiled by Katadata from Momentum Works:

2020

Shopee: US$24.3 billion

Lazada: US$13.1 billion

Tokopedia: US$10.9 billion

2021

Shopee: US$42.5 billion

Lazada: US$21 billion

Tokopedia: US$16.1 billion

TikTok Shop: US$0.6 billion (US$600 million)

2022

Shopee: US$47.9 billion

Lazada: US$20.1 billion

Tokopedia: US$18.4 billion

TikTok Shop: US$4.4 billion

2023

Shopee: US$55.1 billion

Lazada: US$18.8 billion

Tokopedia: US$16.3 billion

TikTok Shop: US$16.13 billion

2024

Shopee: US$66.8 billion

Lazada: US$18 billion

Tokopedia: US$12.8 billion

TikTok Shop: US$22.6 billion

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Shopee Dominates Southeast Asia's e-Commerce GMV until 2024

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Shopee Dominates Southeast Asia's e-Commerce GMV until 2024

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