New data from Juniper Research has found that the digital commerce market is set to increase from $4.9 trillion in 2015 to just over $8 trillion by 2020, according to a press release.

Juniper's latest research, Digital Commerce: Key Trends, Sectors & Forecasts 2016–2020, forecasts that the digital commerce market will see significant growth in transaction values as a result of the contributions from three major commerce segments.

Juniper said that the digital commerce market will see strong contributions from three key sectors — digital banking, remote digital goods and remote physical goods.

"The digital commerce market as a whole is seeing an ever-increasing propensity towards an omnichannel approach, and this extends to ecommerce where the mobile and tablet platform is seeing increased use towards the purchasing of physical goods, either for delivery or collection," said research author Lauren Foye. "In addition, global online banking users as a proportion of banked individuals are forecast to cross the 50 percent mark in 2016."

Online retail events such as Cyber Monday have been credited with boosting online platform incomes, and 2015 was no exception, with many retailers turning record profits, according to the research. China's own Black Friday event known as 'Singles' Day' reportedly saw ecommerce giant Alibaba sell 91.2 billion yuan ($14.3 billion) in goods. The research also observed that digital transaction volumes would be further bolstered with the continued transition to digital formats, and the rise in streamed subscription services.