According to a new report published by UnivDatos Markets Insights the Digital commerce platform market is expected to grow at a CAGR of around 13% from 2021-2027. The analysis has been segmented into Business model (Business to cosumer, Consumer to business, business to business, Consumer to consumer and Others) Deployment (On-Premises and Cloud ); Browsing method, (desktop/laptop and mobile/tablet); Payment model(card payments, bank transfers, digital wallets, cash payments, and cryptocurrencies) End-user (Food & Beverages, Fashion & Apparels, Health & Beauty, Electronics, Automotive, Home & Furniture, Media & Entertainment, Others); Region/Country.
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The digital commerce platform market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the digital commerce platform market. The digital commerce platform market report offer a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the digital commerce platform market at the global and regional levels.
Market Overview
Digital commerce is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, basically on the internet. Digital commerce is powered by the internet, where customers can access an online store to browse through, and place orders for products or services via their own devices. Increasing demand for digital commerce has prompted enterprises to invest in new digital business designs, in order to enhance customer experience. Companies are exploiting the benefits of social media platforms, in order to gather more information about customers and serve them better by understanding customer satisfaction. Digital commerce has transformed customer experience in terms of accessibility and visibility. Moreover, organizations are transforming internal processes such as ERP which has transformed the way organizations were handling various transactional, supply chain, and financial processes. An increasing number of smartphones, tablets, and broadband connections is expected to support the growth of the global digital commerce platform market in the near future. For instance, according to the OECD, there were around 472 million fixed broadband connections worldwide in the year 2021. In emerging countries such as India online sales are primarily driven by the growing adoption of portable devices.
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COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the manufacturing and ICT industry and has transformed the way of working. As the COVID-19 pandemic intensifies, businesses are effectively leveraging on-premise and cloud-based digital commerce solutions to sustain their businesses. Furthermore, growth is likely to perpetuate even in the post-pandemic scenario.
· Based on business model, the market is segmented into, business to consumer, consumer to business, business to business, and consumer to consumer and others. The business-to-consumer segment was a highly preferred business model in digital commerce and accounted for the total market revenue. The main reason for this growth is the low supply cost and easier implementation than traditional sources of business.
· Based on deployment, the market is segmented into cloud and on-premises. The cloud segment is expected to achieve a higher CAGR during the forecast period. The growing demand for cloud services can be attributed to the cost-effectiveness of cloud services. As companies can eliminate unnecessary hardware or rigid on-premises assets and easily right-size computing resources according to their unique business requirements. Furthermore, the integration of cloud-based solutions and services helps organizations to reduce their operational cost significantly as they can be accessed from anywhere.
· Based on the browsing method the market is segmented into desktop/laptop and mobile/tablet. The mobile/tablet market is expected to grow exponentially during the forecast period. The growing adoption of the mobile/tablets segment can be attributed to the changing consumer preferences, rise in population, and surge in affordability of internet connections & mobile phones across the globe. The emergence of affordable smartphones and internet connections are key factors resulting in the rise in demand for retail digital commerce, owing to technological advancements, the number of people who can afford electronics such as smartphones has increased considerably over the past few years. Moreover, access to the internet has surged in the past few years, which is why a larger number of people are able to shop online. This has further led to the expansion of digital industries, including e-commerce, which, in turn, drives the demand for digital commerce solutions.
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Digital Commerce Platform Market Geographical Segmentation Includes:
· North America (US, Canada, Rest of North America)
· Europe (Germany, France, Spain, UK, Rest of Europe)
· Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
· Rest of the World
For a better understanding of the market adoption of digital commerce platform, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, UK, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), Rest of World. . North America provided the market with the leading demand volume as well as revenue generation. The market for digital commerce platforms in North America is projected at a significant CAGR within a forecast period. This region owes its lead to a massive existing base of digital media users, powered by the high use of smartphones and high-speed data networks and internet services. This region is currently showing phenomenal growth within the global digital commerce platform market in its B2B business model segment, while the North American retail segment has already been a prominent source of revenue for the market players.
The major players targeting the market include
· Shopify Inc.
· SAP SE
· Oracle
· Adobe
· Salesforce Inc.
· WooCommerce
· Sitecore
· Kentico Software
· Unilog, Inc.
· IBM Corporation
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Digital Commerce Platform Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the digital commerce platform market?
• Which factors are influencing the digital commerce platform market over the forecast period?
• What are the global challenges, threats, and risks in the digital commerce platform market?
• Which factors are propelling and restraining the digital commerce platform market?
• What are the demanding global regions of the digital commerce platform market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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