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The e-commerce software and platform market currently has a market value of US$ 3.81 billion. From 2022 to 2032, it is projected to grow at a positive CAGR of 12.5% and reach a value of US$ 12.37 billion.
Retailers have noticed a rise in customer preference for online purchases because of the convenience and affordability of online platforms. This has prompted businesses to adopt e-commerce platforms and software to enhance the shopping experience for customers, increase their visibility to reach out to remote customers, and boost product and service sales. Furthermore, e-commerce platforms and software enable a seamless customer experience by integrating mobile, offline, and online buying channels.
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During the assessment period, this factor increased demand for business-to-business e-commerce software and platforms. The widespread use of cloud computing has opened up new opportunities for e-commerce. The global popularity of cloud computing and the Internet of Things (IoT) is expected to fuel a meteoric rise in demand for e-commerce software and platforms that use these platforms for deployment.
Key Takeaways from the Market Study
· 80 % of the market will be accounted for by the deployment of SaaS-based e-commerce software and platforms.
· B2B e-commerce software deployment is expected to account for 3/5 of the global market by business type.
· The United States is anticipated to be the most opportunistic market, accounting for about 40% of total revenue.
· India and China will jointly hold 60% of the market for e-commerce software and platforms worldwide.
· APEJ will increase demand for e-commerce software and platforms by more than 4 times.
· In 2022, the global market for e-commerce platforms and software is expected to be worth US$3.81 billion.
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Market Competition
Product innovation and wise mergers and acquisitions shape the e-commerce software and platform market's competitive landscape. Some well-known producers of e-commerce software and platforms include IBM, Shopify Inc., Salesforce, Oracle Corporation, SAP SE, and Shopify Inc.
· In order to automate its marketing platform with adaptable and dependable AI-driven technology solutions, YesStyle.com, a leading e-commerce platform for fashion, beauty, and lifestyle products owned by YesAsia Holdings Ltd., chose Oracle Fusion Cloud Customer Experience (CX).
· The Finacle Digital Banking Solution Suite will be accessible on Red Hat OpenShift and IBM Cloud for Financial Services, according to an announcement made in November 2021 by Infosys Finacle, a wholly-owned subsidiary of Infosys and a division of EdgeVerve Systems. Through this partnership, banks will be able to scale business transformation, increase their agility, and fuel growth with an on-demand portfolio of goods and services.
Key Market Segments in e-commerce software and platform Industry Research
- By Deployment Outlook :
- SaaS
- On-premise
- By End-use Outlook :
- Apparel
- Electronics
- Travel and Tourism
- Home and Furnishing
- Others
- By Business Model :
- B2B
- B2C
- Market Place
- Others
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How Interesting is the U.S. Software and Platform Landscape for E-Commerce?
The American market is anticipated to grow significantly through 2022 and beyond. The business-to-business e-commerce software and platform market is anticipated to expand significantly over the course of the assessment period as a result of high order values and rising conversion rates.
The rapid development of e-commerce platforms and software in the US has made it possible to fulfil business-to-business orders quickly, which has improved the customer experience. In the United States, a market share of more than 40% is anticipated between 2022 and 2032, according to Fact.MR.
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