Electronic markets (or digital markets) are markets mediated by electronic communications systems. The term was originally used in management information systems to describe electronic procurement systems, securities exchanges, and other interorganizational systems. From the 1990s onwards, the meaning of the term expanded to include consumer Internet marketplaces such as auction and travel booking sites. Today, electronic markets also include smartphone apps that connect consumers to providers of goods and services. A popular explanation for the rise of electronic markets is that new information and communication technologies have reduced transaction costs, making it increasingly economical to use markets instead of hierarchies to co‐ordinate transactions. In the sociology of work, electronic markets are noted for their role in value chain restructuring and the rise of the “gig economy.” In the sociology of consumption, electronic markets are seen to play a role in changing consumption practices. Finally, the commercial success of electronic markets has given immense economic, regulatory, and social influence to the technology companies that operate them. Consequently, sociologists are inquiring about the implications of this power to market participants, consumers, governments, and other stakeholders.