Press release
Global Digital Commerce Platform Market Projected to Surpass $26.68 Billion by 2029 with 16.4% Annual Growth
Digital Commerce Platform
The surge in online shopping is expected to drive the digital commerce platform market forward. Online shopping offers consumers convenience, product variety, and competitive prices, increasing demand for e-commerce. Digital commerce platforms help businesses manage their products, inventory, customer data, and orders efficiently. The United States Census Bureau reported a 7.6% increase in U.S. e-commerce sales between the third quarter of 2022 and the third quarter of 2023, indicating the rising popularity of online shopping.
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What is the future CAGR of the digital commerce platform market, and how will it impact industry expansion?
The digital commerce platform market has experienced rapid growth in recent years. It is projected to increase from $12.43 billion in 2024 to $14.51 billion in 2025, at a CAGR of 16.7%. This growth is driven by increased internet penetration, the rise of smartphone usage, the expansion of social media, growing consumer convenience, and the rise of subscription-based models.
The digital commerce platform market is expected to grow to $26.68 billion by 2029 with a CAGR of 16.4%. This growth is fueled by mobile commerce adoption, cloud-based solutions, personalized shopping experiences, increased internet penetration, and digital payment solutions. Key trends include AI adoption, blockchain integration, 5G rollout, and AR applications.
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What are the most significant trends transforming the digital commerce platform market today?
In the digital commerce platform market, companies are developing digital transactions and secure payment gateways to ensure transactional safety. For instance, in January 2024, LINE Next launched DOSI, a digital commerce platform that integrates Web3 features for seamless trading. The platform offers digital products such as memberships, game items, and tickets, enhancing accessibility and utility for users worldwide.
Which key market segments comprise the digital commerce platform market and drive its revenue growth?
The digital commerce platform market covered in this report is segmented -
1) By Component: Digital Commerce Platform Solutions, Digital Commerce Platform Services
2) By Business Model: Business To Consumer (B2C), Business To Business (B2B), Consumer To Business (C2B), Consumer To Consumer (C2C)
3) By Deployment Model: On Premises, Software As A Service, Fully Managed
4) By End Use: Food And Beverages, Fashion And Apparels, Health And Beauty, Electronics, Automotive, Home And Furniture, Media And Entertainment, Other End Users
Subsegments:
1) By Digital Commerce Platform Solutions: E-Commerce Platforms (B2B, B2C, C2C), Mobile Commerce Solutions, Payment Gateway Solutions, Shopping Cart And Checkout Solutions, Digital Product And Content Management Systems, Customer Relationship Management (Crm) Solutions, Personalization And Recommendation Engines, Marketing Automation Solutions
2) By Digital Commerce Platform Services: Implementation And Integration Services, Managed Services, Support And Maintenance Services, Consulting Services, Data Analytics And Reporting Services, Security And Compliance Services, Digital Marketing Services, Custom Development Services
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What regions are at the forefront of digital commerce platform market expansion?
North America was the largest region in the digital commerce platform market in 2023. The regions covered in the digital commerce platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the digital commerce platform market?
Major companies operating in the digital commerce platform market are International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce Inc., Tata Consultancy Services Limited, HCL Technologies Limited, Sappi Limited, Shopify Inc., Radial Inc., Sitecore Holding II A/S, Automattic Inc., BigCommerce Holdings Inc., Digital River Inc., Unilog Content Solutions Private Limited, Mirakl SAS, VTEX Commerce Cloud Solutions LLC, Spryker Systems GmbH, commercetools GmbH, Cleverbridge GmbH, Kibo Software Inc., Miva Inc., Kentico Software s.r.o., Intershop Communications AG, Elastic Path Software Inc., Oro Inc
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What Is Covered In The Digital Commerce Platform Global Market Report?
•Market Size Forecast: Examine the digital commerce platform market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the digital commerce platform market for a structured understanding.
•Key Players Overview: Analyze major players in the digital commerce platform market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the digital commerce platform market.
•Segment Contributions: Evaluate how different segments drive overall growth in the digital commerce platform market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the digital commerce platform market.
•Industry Challenges: Identify potential risks and obstacles affecting the digital commerce platform market.
•Competitive Landscape: Review strategic developments in the digital commerce platform market, including expansions, agreements, and new product launches.
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