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E-commerce Software and Platform Market Trends, Revenue Share & Opportunity Status Analyzed during 2018-2028 | Key Players are Oracle Corporation, SAP SE, Shopify Inc., etc.
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Pervasiveness of e-commerce has transformed the retail sector by introducing online platforms for purchasing commodities and goods. Retailers have witnessed increased inclination of customers toward online purchasing on the back of high convenience and cost effectiveness of online platforms. This aspect has triggered retailers to adopt e-commerce software and platform to enhance customer shopping experience and increase their visibility to reach remote customers to increase sales of their products and services. Moreover, e-commerce software and platform provides seamless customer experience by linking mobile, offline and online shopping channels. E-commerce software and platforms enable delivery of all services and products of the retailer on a single platform, in turn increasing the convenience quotient for customers. This factor is likely to fuel the adoption of e-commerce software and platform in the forthcoming years.
Integration of Data analytics with E-commerce Pave new Growth Opportunities
Robust growth of Big Data analytics has resulted in paradigm shift in the e-commerce industry. Data is now looked upon not as a bi-product of a business, but considered as a vital asset offering insights on customer behavior in terms of purchasing patterns, frequency and choice. It is now used as an important performance measure of a business that can be leveraged to enhance business activities and profits. In a bid to simplify complexities associated with Big Data analytics, providers of e-commerce software are integrating AI and data analytics with e-commerce software and platform. This integration has enabled enhanced customer traffic, in turn facilitating high revenue generation and improved sales. Moreover, e-commerce software and platform also provides analysis on customer satisfaction than can be used by retailers to explore new opportunities and increase profitability. Big Data analytics integration with e-commerce has significantly propelled the demand for e-commerce software and platform, in turn favoring their market’s growth during the period of forecast, 2018-2028.
SaaS Based Deployment to Gain High Traction than On-Premise Deployment
On-going technological advancements have raised the competitiveness of the retail market as increasing number of retailers are focusing on leveraging online platforms to capture new customer segments. A paradigm shift from on-premise deployment toward adoption of cloud-based deployment has resulted in vendors offering XaaS (Everything as a Service) that includes SaaS (Software as a Service), PaaS (Platform as a Service) and IaaS (Infrastructure as a Service). In a bid to retain customer loyalty, players are focused on using cloud based platforms such as SaaS as an effective deployment model for e-commerce software and platform. Moreover, vendors of e-commerce software and platform are focused on offering customized platform based on critical requirements of customers, which has led to the adoption of new methodology that can facilitate tapping a wider marketplace in order to enhance customer base. Against this backdrop, deployment of e-commerce software and platform through SaaS has gained significant traction since the past few years and is likely to retain its status quo in the years to follow.
Huge Data Volume and Internet Traffic to pose Challenges
Scalability and flexibility of the e-commerce software and platform is largely impacted by the network infrastructure and the ability to handle increased traffic and rising demand for bandwidth. Increasing traffic is likely to result in software failure, which is expected to confine the growth of the e-commerce software and platform market. However, vendors of e-commerce software and platform are focused on enhancing network infrastructure to overcome this challenge.
Rising Cybercrimes to Challenge Demand for e-commerce Software and Platform
Increasing cybercrimes worldwide has posed a significant setback to the IT sector. Growing hacking threats and phishing attacks can potentially result in security breaches, and confidential data leak. This can further lead to misuse of customer data in turn inducing a dent in customer confidence resulting in high attrition rate. This aspect continues to challenge the demand of the e-commerce software and platform and its overall market’s growth.
Note: To know more key influencing aspects impacting the growth in sales and adoption of e-commerce software and platform, request a free sample copy of the e-commerce software and platform market report
About the Report
“E-Commerce Software and Platform Market Forecast, Trend Analysis and Competition Tracking – Global Review 2018-2028” is a comprehensive compilation of various insights based on accurate data gleaned using a unique research methodology. The e-commerce software and platform market report includes assessment on various deployment methods, along with in-depth analysis on various end users of the e-commerce software and platform. The e-commerce software and platform market report also includes regional assessment with detailed country level analysis that stakeholders can utilize to expand their footprint. The report also includes historical data analysis along with present market condition. Consequent chapters in the e-commerce software and platform market report also deliver future market projections for a period of 10 years, from 2018 till 2028. The report on e-commerce software and platform market highlights several trends influencing the market’s growth and also emphasizes impact of various drivers and restraints. It includes detailed opportunity assessment that can be used by the reader to tap key revenue pockets and enhance profitability.
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