Commerce as a Service Market - Clear Understanding Of The Competitive Landscape And Key Product Segments
Primarily, CaaS facilitates customer support services, product information catalogue management, experience management, web content management, order routing & fulfilment, payment services, management of multiple buyers, and open catalogue interface (OCI) punch services.
Moreover, CaaS supports e-business to provide user-friendly purchasing environment to its customers and obtain insight into customer’s perspective, which in turn helps to plan customer-centric sales strategies. Thus, CaaS provides a highly supportive environment for e-commerce businesses to manage their products and services digitally, with a considerable degree of commercial freedom and planning security.
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Furthermore, CaaS can be outsourced to a third-party service provider along with all the responsibilities of maintaining upgrades, storage, security, and data backup. It permits users to access virtual sites from anywhere via the internet, which in turn is expected to help gain more traffic of customers over e-commerce sites and ultimately lead to sales opportunities.
Therefore, every new small and medium enterprises (SMEs) are intentionally the adopting CaaS platform. SMEs require quality IT services; however, a lack of finances for infrastructure setup leads to outsourcing of their online trade infrastructure. CaaS allows easy scaling up or scaling down of SMEs by providing a flexible interface to its users in a highly competitive environment.
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Increasing demand for internet services, smartphones, and mobile devices is driving the Commerce as a Service (CaaS) market. Mobile devices such as smartphones, tablets, etc., are increasing the touch points and attracting customer traffic to the site, which is anticipated to help bring new channel sales to e-commerce businesses. Conversely, low network bandwidth and weak network signals are hampering the growth of Commerce as a Service (CaaS) market.
Furthermore, security issues related to payment processes are key factors restraining the Commerce as a Service (CaaS) market. However, rise in availability of cloud computing services and high speed 4GLTE network with reasonable internet plans are expected to boost the online platform market, which in turn is estimated to boost CaaS enabled e-commerce services during the forecast period.
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