With the digital retail landscape evolving constantly, the development of innovative ways to engage online shoppers is of vital importance. For instance, Alibaba, one of the leading e-commerce giants, through its Buy+17 service, offers a virtual reality-based online shopping experience where customers can use their phones and connect to VR headsets to browse a complete range of products hosted by Alibaba. The adoption of such techniques enriches customer satisfaction and experience.
Focus on Scaling Operations Drives Adoption of SaaS
By deployment, the E-Commerce Platform Software market has been segmented into on-premise and Software as a Service (SaaS). SaaS E-Commerce Platform Software s are out-of-the-box solutions, as most E-Commerce Platform Software s have a handful of basic shopping cart functionalities built into the platform. An increasing number of retailers have been looking to scale their E-Commerce Platform Software with an aim to target more customers and process more orders.
The market, by software platform, has been segmented into hosted E-Commerce Platform Software s and self-hosted E-Commerce Platform Software s. Self-hosted E-Commerce Platform Software s offer several benefits such as 100% flexibility to customize operations and are maintained on a server set up by the company itself.
Small & Medium-Sized Enterprises to Benefit Most from E-Commerce Platform Software
The e-commerce software market, by business size, has been segmented into small, medium, and large. E-Commerce Platform Software s provide several benefits to small enterprises such as an increase in revenue, online goodwill building, low operational costs, timing flexibility, automated product delivery solutions availability, and others. These benefits positively impact the growth of the E-Commerce Platform Software market, especially among small enterprises.
On the basis of industry, the E-Commerce Platform Software market has been segmented into food & beverage, fashion & lifestyle, health & beauty, media & entertainment, automotive, consumer electronics, and others. E-Commerce Platform Software s have made it easy to expand business around the globe and create strong goodwill in the market. Several customers can be attended to at one time with e-commerce, and thus, several fashion & lifestyle manufacturers are increasingly adopting E-Commerce Platform Software.
Based on application, the E-Commerce Platform Software market has been segmented into catalog management, inventory management, SEO management, shopping cart, returns management, order management, email marketing, multi-store management, channel management, and others. E-commerce makes it easier to maintain inventory by efficiently maintaining optimal inventory quantity and determining minimum stock levels to ensure efficient performance and service.
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North America to Grow Against a Backdrop of Rapid Advancements
North America accounts for the most advanced software and information technology (IT) services in the world. According to the International Trade Association (ITA), more than a quarter of the global IT market amounted to more than USD 3.8 trillion in the United States. These technology-based firms are majorly small- and medium-sized and thus, can be termed as potential investors as e-commerce software platforms can be used to expand their scope.
EU’s Focus on DSM to Propel Market Growth in Europe
The Europe market is by driven by several technological developments with the support of government initiatives and policies. For instance, the European Union’s Digital Single Market Initiative majorly focuses on creating a Digital Single Market (DSM), which is one of the top ten priorities of the European Commission. This initiative has several concrete policies and legislative proposals that have a broad reach, including reforming the e-commerce sector. Such initiatives offer several growth prospects in the adoption of e-commerce software platforms.
China to Spearhead Growth in APAC
Asia-Pacific has several growth prospects in the E-Commerce Platform Software market in technologically developing regions such as China, India, Indonesia, and South Korea. According to the International Trade Administration, China is the world’s largest e-commerce market with a value of approx. 650 million by the end of 2018. It is further estimated that China’s e-commerce market will grow larger than that of the U.S., Europe, and Japan combined by 2020, which will cater potential growth opportunities for the E-Commerce Platform Software market.
LAMEA to Persevere Against Pitfalls & Setbacks
Latin America has been facing several micro-economic challenges, but the e-commerce industry is not expected to have a major impact as industrial verticals in economies such as Brazil are increasingly witnessing higher internet penetration. Therefore, e-commerce software providers have an opportunity presented by the country’s young and large middle class and internet connectivity.
Countries across the Middle East have been witnessing new business models such as online-to-offline (O2O) and group buying influences the strengths of online and offline channels, majorly with a focus to engage more effectively with consumers and provide a better and more convenient shopping experience. This is the key reason that several small- and medium-sized enterprises are shifting towards e-commerce.
Some of the major players in the E-Commerce Platform Software market are YoKart, Tictail, IBM Digital, Magneto, Shopify, Big Commerce, VTEX, WooCommerce, Miva, The Winner, Voulsion, PinnacleCart, X-cart cloud, Aabaco, 3dcart, and E-Cart Cloud.
E-Commerce Software Market: Segmentation
Software as a Service (SaaS)
Hosted E-commerce Platforms
Self-Hosted E-commerce Platforms
Food & Beverage
Fashion & Lifestyle
Health & Beauty
Media & Entertainment
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now