Press release
Digital Commerce Applications Market: Estimated to be valued at more than US$ 5,350 Mn by 2026
The North America digital commerce applications market is likely to exhibit a healthy CAGR during the forecast period. The region accounted for the highest value share of close to 30% in 2016. The North America regional market is estimated to lose 96 BPS in 2026 as compared to that in 2016 and is projected to account for a market value share of just a little over 28%. The region is expected to witness a significantly high market attractiveness during the predicted period in the global digital commerce applications market. The North America digital commerce applications market is estimated to be valued at more than US$ 5,350 Mn by 2026, up from almost US$ 1,285 Mn in 2016, registering a CAGR of 15.4% over the forecast period. The North America digital commerce applications market is anticipated to create absolute $ opportunity of more than US$ 3600 Mn between 2016 and 2026.
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Increasing use of the internet by a large number of people in North America is likely to create a positive impact on the global digital commerce applications market
Rising mobile commerce is the key driving factor in North America. The e-commerce market is rapidly increasing in North America region due to continuously growing mobile commerce transactions. Mobile commerce is basically the use of wireless handheld devices including laptops and smartphones for recharge or online bill payments. The recent trend in North America is that social media sites and e-commerce websites are moving towards m-commerce, and this has resulted in more demand for digital commerce applications. An increasing mobile consumer base in North America is also one of the reasons for the high growth of the North America digital commerce applications market. For instance, in 2015, U.S.A. Inc. announced a plan to unveil a mobile payments program that accepts any near field communications payment service at approximately 20 Chevron-branded stations.
Growing internet connectivity is fueling the growth of the digital commerce applications market in North America. BFSI, travel and hospitality and manufacturing are the rapidly growing industry sectors in the region. Apart from this, the retail market is also moving ahead speedily due to the fast growing online grocery sales in North America. Customers in the region are also focused on finding the best prices in online shopping due to increasing shopping habits and changing lifestyles, which has resulted in the high growth of the digital commerce applications market in the North America region.
Rising mergers and acquisitions and strategic partnerships among key players are trending the digital commerce applications market in North America
Mergers and acquisitions have become the most popular trend among prominent players operating in the digital commerce applications market in North America for expansion of their businesses and to offer superior customer experiences. For instance, in the year 2016, Saleforce.com acquired Demandware to extend its cloud services portfolio and thereby capture maximum share of the digital commerce applications market. Prominent players in North America are focusing on strategic business partnerships. For example, in March 2017, IBM entered into a strategic partnership with Salesforce.com to provide better solutions designed to push artificial intelligence and enable enterprises to make smarter decisions, more efficient than ever before.
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BFSI segment is expected to gain a significant BPS in the North America digital commerce applications market over the forecast period
In terms of value, the BFSI segment accounted for more than 20% value share of the North America digital commerce applications market in 2016. Among all the end use industry segments, BFSI is the relatively attractive segment in the North America digital commerce applications market. The BFSI segment is expected to gain a significant BPS in the North America digital commerce applications market over the forecast period.
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