Key Takeaways from Report on Commerce Technology and Services Market for Forecast Period 2017 - 2026

Businesses and organizations are integrating commerce technology and services into their business processes and business models to enhance their core services. The growth of internet is a major contributor to the adoption of commerce technology and services around the globe. Commerce technology can be recognized as a combination of regulatory reforms and technological innovations such as optic fiber, and Digital Subscriber Line (DSL) etc.

In addition, among all other commerce technologies, e-commerce helps in the implementation of digitally enabled commercial transactions which occur over the web between and among individuals and organizations. Furthermore, these technologies and services are often used by businesses and organizations for marketing, selling, service offering, online banking, and billing etc.

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The rising penetration of commerce technologies and services made huge impact socially and economically on individuals, businesses, retailers, and supply chain management among others. Commerce technology allows individuals and businesses to use mobile and smart-phone applications to carry out online transactions. Likewise, with increasing adoption of commerce technologies and services various retailers such as Wal-Mart Stores, Inc., and Amazon.com, Inc. are implementing Omni-channel model which allows them to integrate their separate channel to enhance customer support.

The adoption of commerce technologies and services is rapidly increasing due to reducing need for physical currency or goods to conduct transaction. Commerce technologies and services facilitate businesses and organizations in implementing low-cost advertisements, and reduce distribution, marketing, phone, postage and printing costs among many others.

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In addition, low capital investment and relatively relaxed entry barriers are required to establish companies on internet due to these technologies and services. Furthermore, commerce technologies allow businesses to implement cross-border markets for almost all products and services. Moreover, the increasing demand for products with less price tags are compelling businesses to adopt e-commerce technologies. All these traits are expected to drive the commerce technology and services market over the forecast period.

However, hidden costs such as shipping, re-stocking fees, network unreliability/ failures, and security are major concerns for e-commerce technologies. In addition, government regulations and policies related to commerce technologies such as data protection, privacy, taxation, content, copyrights, electronic contracts and other communication, consumer protection norms are expected to restraint the large scale adoption of commerce technologies and services. However, the increasing penetration of internet around the globe and implementation of better security policies and procedures offer huge growth opportunities for the e-commerce technology market.

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