The global ecommerce software and platform market is anticipated to be worth US$ 3.81 Bn in terms of revenue in 2022. The market is projected to expand at a CAGR of 12.5% to reach a market size of US$ 12.37 Bn by 2032.
In terms of revenue, the worldwide ecommerce software and platform market is expected to reach US$ 3.81 billion in 2022. By 2032, the market is anticipated to grow at a CAGR of 12.5% and reach US$ 12.37 billion in revenue.
The global ecommerce software and platform market are driven by ecommerce software which is user-friendly and affordable for a small business entity. The cost of adding an eCommerce component to existing business and penetrating newer markets ranges between US$ 100 to US$ 150 per month and enables expansion through online business.
Ecommerce software enables the functioning of an online store, makes inventory management easy, adds or removes products, calculates taxes, and does other tasks required to manage a website and fulfil client orders. Ecommerce software can also be called a shopping cart solution, shopping cart software, eCommerce website builder, online store builder or eCommerce platform and it serves the sole purpose that is to helping clients sell their products online.
Ecommerce platform includes customizable site templates, an integrated shopping cart, search engine optimization (SEO), email marketing, inventory management and analytics. The customer needs to create an account and use store management tools to customize their ecommerce business.
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Ecommerce software and platform Market: Drivers & Restraints
Ecommerce platforms provide the basics requirements to start online business. Ecommerce is rapidly accounting for a bigger proportion of overall retail sales in U.S. According to the U.S. Department of Commerce, customers spent approximately US$ 194 Bn online in 2011. With this kind of spending and trend, increasing number of small and mid-size businesses are taking the online platform for all or some of its operations.
Ecommerce software and platform Market: Overview
The two major categories of e-commerce platforms are hosted and self-hosted. Hosted means the company will host client’s store, while self-hosted means the company will provide the client a software and the client needs to get their own Web hosting. Hosted ecommerce software or solution provides domain name registration and all other tools needed to build an ecommerce website particularly for small to medium-sized businesses (SMBs).
Hosted ecommerce software are low cost, do not require IT assistance and are designed to grow with business as the customer does not pay for specifications and features which are not used by them with availability of upgrade services of features needed.
Ecommerce software and platform Market: Region wise Overview
Geographically, global ecommerce software and platform market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, Middle East and Africa (MEA).Global ecommerce software and platform market is in its growth phase and its adoption is gaining momentum.
Ecommerce software and platform providers are accumulated in the U.S., U.K., Canada and few other APAC countries. As a result, North America, Western Europe and APAC regions are expected to account for more than half the share in the ecommerce software and platform market.
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Ecommerce software and platform Market: Key Players
Some of the major ecommerce platforms are Shopify, Volusion, BigCommerce, The Winner, Magento, 1ShoppingCart, Aabaco, Wix, X-Cart Cloud, 3dcart, PinnacleCart, Etsy, Squarespace to name a few. The competition among the ecommerce software and platform market players is fierce in terms of pricing, user-friendliness, features and online shopping cart is particularly the area of interest of most of the clients in the market.
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Regional analysis includes
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Ecommerce software and platform Market: Segmentation
The global ecommerce software and platform market is classified on the basis of software platform, ecommerce software type and region.
Based on software platform, the global ecommerce software and platform market is segmented into the following:
Based on ecommerce software type, the global ecommerce software and platform market is segmented into the following:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jan 16, 2023
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