SaaS-based e-commerce software and platforms to Acquire 80% of the Market Share
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NEW YORK, Jan. 20, 2022 /PRNewswire/ -- The e-commerce software and platform market had a market value of US$ 3.81 billion in 2022, and is expected to grow at a CAGR of 12.5% from 2022 to 2032, reaching a value of US$ 12.37 billion.
Due to convenience and cost-effectiveness of online platforms, retailers have seen a growth in client preference for online purchases. This has prompted merchants to implement e-commerce software and platforms in order to improve the customer shopping experience and expand their visibility in order to reach remote customers and increase product and service sales. Furthermore, by connecting mobile, offline, and online buying channels, e-commerce software and platforms enable a seamless customer experience.
As a growing number of retailers focus on exploiting online platforms to attract new client segments, ongoing technology improvements have increased the competition of the retail business.
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Through 2022 and beyond, the US market is expected to grow at a rapid pace. On the strength of big order values and increasing conversion rates, sales of e-commerce software and platform via business-to-business model are predicted to expand at a significant rate throughout the assessment period.
Emerging countries of India and Greater China are expected to present potential growth pathways for vendors of e-commerce software and platform owing to the growing e-commerce industry in this region. The e-commerce market has been considerably altered by cryptocurrency and blockchain, which has fueled demand for e-commerce software and platforms. They are expected to account for 60% of worldwide e-commerce software and platform demand.
Vendors now provide XaaS (Everything as a Service), which encompasses SaaS (Software as a Service), PaaS (Platform as a Service), and IaaS (Infrastructure as a Service) as a result of a paradigm change from on-premise deployment to cloud-based deployment (Infrastructure as a Service). Players are focusing on cloud-based platforms such as SaaS as an effective deployment mechanism for e-commerce software and platform in order to keep client loyalty.
E-commerce software and platform Market Size (2022)
US$ 3.81 Bn
Sales Forecast for e-commerce software and platform (2032)
US$ 12.37 Bn
Global Market Growth Rate (2022 to 2032)
The implementation of SaaS-based e-commerce software and platforms will account for 80% of the overall market.
B2B e-commerce software deployment will account for 3/5th of the global market by business type.
The United States is predicted to be the most lucrative market, with a revenue share of roughly 40%.
India and China are expected to account for 60% of the worldwide market for e-commerce software and platforms.
In terms of e-commerce software and platform demand, APEJ is expected to represent a 4x rise.
In 2022, the global market for e-commerce software and platforms is expected to be worth US$ 3.81 billion.
Rising inclination of customers towards online buying is expected to propel the e-commerce software and platform market.
Big Data analytics integration with e-commerce has rapidly spurred the demand for e-commerce software and platform.
Growing cybercrimes, hacking, data leaks can lead to security breaches and confidential data leaks and hamper the growth of e-commerce software and platform market.
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Product innovation and strategic mergers and acquisitions influence the competitive landscape of the e-commerce software and platform sector. To take advantage of lucrative opportunities in developing markets, front-runners are focusing capacity increases and global footprint development.
In January 2022, YesStyle.com, a prominent e-commerce platform for fashion, beauty, and lifestyle products owned by YesAsia Holdings Ltd., chose Oracle Fusion Cloud Customer Experience (CX) to automate its marketing platform with flexible and dependable AI-driven technology.
In November 2021, The Finacle Digital Banking Solution Suite will be available on Red Hat OpenShift and IBM Cloud for Financial Services according to Infosys Finacle, a wholly-owned subsidiary of Infosys. With an on-demand range of products and services, our alliance will help banks scale business transformation, become more flexible, and propel their growth.
Key Players in the E-commerce Software and Platform Market Include:
Intershop Communications AG
More Valuable Insights on E-commerce Software and Platform Market
Fact.MR provides an unbiased analysis of the e-commerce software and platform market, presenting historical demand data (2016-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global e-commerce software and platform market with a detailed segmentation on the basis of:
By Deployment Outlook :
By End-use Outlook :
By Business Model :
Key Questions Covered in E-commerce Software and Platform Market Report
The report offers insight into the E-commerce software and platform market demand outlook for 2022-2032.
The market study also highlights projected sales growth for E-commerce software and platform market between 2022 and 2032.
E-commerce software and platform market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
E-commerce software and platform market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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