Global e-commerce software market was valued at US$ 7,340.8 Mn in 2021 and set to grow at a CAGR of 16.3% throughout the forecast period from 2023 to 2030. Increasing penetration of e-commerce from different geographical regions observed as one of the most prominent factors influencing e-commerce software market growth. Increasing per capita income along with growing Internet penetration are some more factors influencing e-commerce software market growth. In addition, the rise in the adoption of recent technologies coupled with the increasing market for Software-as-a-Service has set the e-commerce software market to register significant growth during the forecast period.

The increasing count of online stores and virtual marketplaces has ensured the growth of the e-commerce software market in years to come. To avail, the benefits of online sales brick and mortar stores, conventional and grocery stores are increasingly shifting towards digital commerce. This factor has created a growth opportunity for the e-commerce software market, worldwide. In addition, with enhancement in business operation through easy handling of orders and transactions along with effective product handing features e-commerce software has increased its attractiveness among numerous industries including automotive, consumer electronics, fashion & lifestyle, and food & beverages among others. 

"BFSI Segment to Witness Growth in Overall E-commerce Software Market throughout the Forecast Period"

Financial institutes are increasingly embracing e-commerce to achieve enhanced productivity through effective data management generated through transactions. Banking, financial services, and institutes are expected to register significant growth in the near future considering the increasing participation of these institutes in the e-commerce market.   Technological advances in banking sectors such as e-checks, e-cards, smart cards among others ensure the growth of the e-commerce software market for BFSI.  As a major strategy to grow in the global e-commerce market, payment banks are engaging in partnership with large well-known banks. This factor further supplementing the e-commerce software market to grow. For instance, in January 2018, several payment banks such as Paytm successfully entered into a partnership with multiple full-fledged commercial banks. Such partnerships further increasing the participation of commercial banks in e-commerce software market growth.  

"North America Dominates Global E-commerce Software Market with more than 30% Market Share; the Asia Pacific to Emerge as the Next Promising Market"

North America accounted for the highest share in the global e-commerce software market with increasing demand for online retail in this region. The growing count of e-retailers along with increasing technology acceptance are reported as prime factors proliferating the demand for e-commerce software. Key market vendors in this region are striving to improve the purchasing experience of customers through product innovation. This observed as one of the highly adopted strategies in the overall e-commerce software market.

Asia Pacific e-commerce software market emerging as the next promising market, with a consistent rise in demand for online purchase of products and services. China, Japan, and South Asia continue to be the biggest e-commerce market, held more than 75% of the total market in 2020. The increasing count of Internet users and e-commerce companies further driving the e-commerce software market in this region. With a rising number of companies selling online along with increasing disposable income, the Asia Pacific e-commerce software market anticipated witnessing significant growth in the coming years.

"Strategic Partnership Remains Key Strategy in Global E-commerce Software Market"  

Strategic business partnership with big companies observed as one of the highly adopted strategies in the global e-commerce software market. More than half of all e-commerce software market vendors are already involved in active partnerships with large firms operating in e-commerce. Retail, automotive, utility sectors are reported for the highest adoption of this strategy in recent years. For instance, in June 2018, Carrefour S.A., a leading multinational e-commerce retailer has signed a strategic partnership with Google LLC to accelerate the digital transformation of one of the world’s largest retailers by revenue. This partnership will result in a customer experiencing effective shopping of Carrefour products through Google Assistant, by 2019. Many other companies are engaging in such partnerships to improve their product reach across different geographic regions.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of E-commerce Software market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the E-commerce Software market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of E-commerce Software market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the E-commerce Software market?
• Which is the largest regional market for E-commerce Software market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving E-commerce Software market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the E-commerce Software market worldwide?