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The Market for Digital Commerce Applications is Anticipated to Expand at a CAGR of 15.8% by 2026
Digital Commerce Applications Market
As the use of technology-enhanced purchasing and selling practises becomes more widespread, so does the usage of cellular networks, the Internet, and other relevant infrastructure. Platforms for managing consumer refunds for readers of online publishers are being developed more quickly. There are platforms for managing payments, invoices, and other financial commitments.
Digital commerce solutions with functions like map control, location services, current information, alerts and notifications, offers and rewards, and more are particularly popular with customers. Persistence Market Research predicted that by the end of 2026, the global market for digital commerce applications would have grown quickly and earned $19.0964 million.
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Persistence Market Research's report titled "Digital Commerce Applications: Global Industry Analysis and Forecast, 2016-2026 " found that the global revenue of digital commerce applications reached nearly $4.4 billion in 2016 and is expected to increase during the forecast period (2016). Explain what is expected. -2026), -2026) will grow at a CAGR of 15.8%. The report estimates that in 2016 North America accounted for approximately 29% of global sales of digital commerce applications. However, the region is likely to lose its market presence over the next few years.
Meanwhile, regions such as Latin America, Western Europe, Eastern Europe and Asia Pacific Excluding Japan (APEJ) will show positive growth in terms of demand for digital commerce applications. Latin America's digital commerce applications market will experience the fastest revenue growth, at a CAGR of 16.3%, while Europe's digital commerce applications market will exceed USD 3.5 billion by the end of 2026.
Digital Commerce Applications: Research Highlights
• Valued at over $4.7 billion, the BFSI sector will be the largest end-user of digital commerce applications by the end of 2026.
• The end-uses of digital commerce applications are also expected to grow in importance in retail and consumer goods, telecommunications, media and entertainment, energy, resources and utilities, and travel and hospitality.
• During the forecast period, digital commerce applications will find more applications in the financial sector and will show a revenue growth of 16% CAGR.
• After 2017, the use of digital commerce applications in service operations is expected to grow rapidly, registering the highest CAGR of 16.4%
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Global Digital Commerce Applications Market: Key Trends
The global demand for digital commerce applications is growing as the number of cloud-based solutions being developed in data centers increases. The cloud as a platform helps enterprises reduce total cost of ownership and increase operational business efficiencies, which in turn fuels the adoption of cloud-based digital commerce applications. It invests heavily in Internet of Things (IoT) services, which offer massive opportunities for retailers in three important areas: B. Intelligent supply chains that increase revenue and increase operational efficiency are also driving demand for digital commerce applications built for IoT-powered devices.
Digital commerce application developers focus on service level agreements. In March 2017, Azul, a card payment solutions provider, entered into an agreement with Shopify Inc. to ensure safe and easy payments with its digital payment platform. Increasing mergers and acquisitions among market players is also a major trend in the global digital commerce applications market.
In 2016, Visa Inc. acquired Cardinal Commerce to accelerate digital payments, and Saleforce.com, Inc. acquired Demandware to expand cloud services that will help achieve maximum business value in the marketplace. In addition to Salesforce and Shopify, the report included leading digital commerce application developers including Oracle Corporation, Tencent Holdings Ltd., Digital Turbine, Inc., Tata Consultancy Services Limited, IBM Corporation, Infosys Limited, Cognizant Technology Solutions Corporation and visa inc.
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Expert analysis, actionable insights, and strategic recommendations - the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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