Sales of E-Commerce Software and Platform Market to Surpass US$ 13,000 Mn Revenues by 2028 end

Proliferation of e-commerce has prevailed since the past couple of years transforming the online retailing sector worldwide. Growing e-commerce platforms coupled with increasing inclination of customer toward using online retail channels continue to influence the growth of the e-commerce software and platform market.

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User-friendliness and affordability of e-commerce software are expected to fuel the demand for e-commerce software and platform across a cohort of industries. With significant growth in the e-commerce sector, stakeholders involved in the e-commerce software and platform can expect momentous growth in the coming years that is largely influenced by several macroeconomic and industry- related factors.

Fact.MR foresees that the demand for e-commerce software and platform is projected to expand at a CAGR of 12.5% in terms of value during the period of assessment, 2018-2028. Moreover, the report estimates that the sales of e-commerce software and platform are likely to surpass US$ 13,000 Mn by end of the year of assessment.

Sales of e-commerce software and platform via business-to-business model are expected to grow at a significant pace throughout the assessment period, on the back of large order values coupled with increasing conversion rates. Fast pace of e-commerce software and platforms have enabled quick business-to-business order fulfilment in turn facilitating better customer experience.

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This aspect has pushed the sales of business-to-business e-commerce software and platform during the period of assessment. In addition, the report also says that the marketplace e-commerce software and platform is projected to gain high traction and is expected to grow at a stellar CAGR of 17.6% in terms of value during 2018-2028.

Segmentation

The report on e-commerce software and platform market includes a detailed market taxonomy that has covered every angle of the market presenting a 360 degree view for the reader.

The report on e-commerce software and platform market contains analysis on every market segment that has an impact on its growth during the assessment period.

The e-commerce software and platform market is segmented on the basis of deployment, business model, end user and region. The deployment category is further classified into on-premise and SaaS (Software as a Service).

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The business model segment is categorized into business-to-business, business-to-consumer, marketplace and others.

Asia Pacific excluding Japan (APEJ) region continues to remain a key lucrative market for e-commerce software and platform. Emerging countries of India and Greater China are expected to present potential growth pathways for vendors of e-commerce software and platform owing to growing e-commerce industry in this region. Crypto-currency and blockchain have significantly transformed the e-commerce space in turn fuelling demand for e-commerce software and platform.

Blockchain is involved in managing transactions and currencies without bank interference, which is expected to emerge as a potential trend revolutionizing the e-commerce software and platform market in APEJ. The sales of e-commerce software and platform in APEJ are estimated to cross US$ 4,400 Mn by end of 2028, making the region a key revenue pocket for e-commerce software and platform vendors.

European countries are also anticipated to portray high demand for e-commerce software and platform. The sales of e-commerce software and platform in this region are largely attributed to high popularity of voice activate devices and voice based search. North America is also expected to significantly contribute to the overall growth of the e-commerce software and platform market, says the report.

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Demand for e-commerce software and platform in North America is projected to grow at a noteworthy pace during the assessment period on the back of integration of Chabot with the e-commerce platform. Overall the growth prospects for the e-commerce software and platform are likely to remain strong, translating into a promising future for vendors in the coming years.

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