E-commerce Software and Platform Market Demand 2022 – Top Trends, Production, Latest Technology Innovation: Comprehensive Growth Insights and Segmentation Forecast to 2031

Kenneth Research, in its repository of market research reports, have recently added a report on E-commerce Software and Platform Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The E-commerce Software and Platform Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for E-commerce Software and Platform Market products.

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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

E-commerce software and platform provides effective solution to the online stores. Further, the main features of ecommerce software and platform are shopping cart software, shopping cart solution, online store builder, ecommerce website builder and others. Apart from this, ecommerce software and platform operates with an integrated shopping cart, search engine optimization (SEO), email marketing, analytics and others.

Market Size and Forecast

The global e-commerce software and platform market is expected to expand at a robust CAGR over the forecast period i.e. 2018-2027. Factor such as high disposable income coupled with growth on consumer spending on clothing is anticipated to increase the growth of global ecommerce software and platform market over the forecast period. Moreover, ecommerce industry has grown remarkably well in the previous years and is likely to witness exponential growth in the upcoming years.

The market is segmented in five major regions including North America, Asia Pacific, Europe, Middle East & Africa and Latin America regions. Among these regions, Asia Pacific is projected to dominate the overall ecommerce software and platform market during the forecast period. Rise in number of business establishments is providing many opportunities for the e-commerce software & platform service providers. This factor is expected to positively impact the growth of e-commerce software and platform market over the forecast period.

North America e-commerce software and platform market is poised to grow at a poised rate over the upcoming years. Rising number of startup establishments across the region is fostering the growth of global ecommerce software and platform market over the forecast period. Europe region is expected to observe outstanding growth in the upcoming years. Increasing consumer spending and increasing number of e-shoppers is anticipated to drive the growth of global ecommerce software and platform market over the upcoming years.

Based on software & platform type, e-commerce software and platform market is segmented into, commerce, order management, business intelligence, shipping and others, out of which, commerce is accounted for the largest market share in overall global ecommerce software and platform market over the forecast period.

Key Players

Shopify
3dcart
WooCommerce
Magento
IBM Corporation
SAP SE
Intershop Communications AG
Salesforce.com, inc.
Volusion, LLC
Web.com Group, Inc.
Yahoo Small Business

Growth Drivers and Challenges

According to Ecommerce Foundation, U.S. ecommerce turnover was held to be USD 595.1 Billion in 2015. This factor is anticipated to positively impact the growth of global ecommerce software and platform market over the forecast period. Further, rising trend of online stores and e-shoppers is expected to positively drive the growth of the global ecommerce software and platform market over the upcoming years.

In addition, the demand for business travels is increasing in the North America due to the rise in travel & tourism industry. This factor is anticipated to be the dynamic factor behind the growth of the global ecommerce software and platform market over the forecast period. Further, global ecommerce market is believed to benefit from rapid urbanization and rising disposable income of the people over the upcoming years.

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Apart from this, government of various nations are promoting and encouraging startup establishments. This factor is expected to drive the growth of global e-commerce software and platform market over the forecast period. Moreover, increasing penetration of smartphone and growth in internet connectivity across the globe is expected to robust the growth of the global ecommerce software and platform market over the forecast period.

However, high cost of advanced such as hybrid and cloud based software and low internet penetration rate in undeveloped countries are some of the key factors which are expected to limit the growth of global ecommerce software and platform market over the forecast period.

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