E-Commerce Software and Platform Market Is Likely To Surge at a CAGR Of 12.5% by 2032

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.

The global e-commerce software and platform industry experienced considerable growth between 2017 and 2021, reaching a valuation of US$ 3.27 Bn in that year. The widespread use of e-commerce has changed the retail industry by offering online marketplaces for acquiring products and commodities. Due to the high convenience and cost-effectiveness of online platforms, retailers have noticed a growing client preference for online shopping. This factor has encouraged merchants to use e-commerce platforms and technologies to improve the shopping experience for customers and to expand their visibility to reach distant markets.

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Key Takeaways:

• 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.

Competitive Landscape:

The competitive landscape of the e-commerce software and platform market is shaped by product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies. 

• In January 2022, YesStyle.com, a leading e-commerce platform for fashion, beauty, and lifestyle products owned by YesAsia Holdings Ltd. selected Oracle Fusion Cloud Customer Experience (CX) to automate its marketing platform with flexible and reliable AI-driven technology solutions. 
• In November 2021, Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys announced that the Finacle Digital Banking Solution Suite will be available on Red Hat OpenShift and IBM Cloud for Financial Services. This collaboration will help banks scale business transformation, become more agile, and power their growth with an on-demand portfolio of products and services.

Growth Drivers:

• 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.

Key Restraints:

• 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.

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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Questionnaire answered in the Market outlook Report of E-commerce Software and Platform include:

• What is the key strategy deployed by large players to maximize E-commerce Software and Platform growth?
• What are the main challenges faced by players in the E-commerce Software and Platform Demand?
• With the advent of technological advancement, how will the E-commerce Software and Platform landscape change over the forecast period?
• What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the E-commerce Software and Platform size?