E-commerce Software Market Outlook 2031
The global e-commerce software market size was valued at USD 8.22 billion in 2022 and is projected to reach USD 31.50 billion by 2031, expanding at a CAGR of 16.1 % during the forecast period, 2023 – 2031. The growth of the market is attributed to increasing preference towards online shopping by consumers.
E-commerce software offers a peak behind the scenes of an online store. This software simplifies complex processes and helps companies to calculate taxes, manage inventories, and other business-related functions. The software simplifies complex processes in a user-friendly manner, which enables non-technical people to use it effectively.
E-commerce Software Market Trends, Drivers, Restraints, and Opportunities
- Manual processing errors are reduced by the e-commerce software.
- Decreasing costs due to the adoption of online platforms along with ease of online business is expected to boost the market.
- The software provides options to modify delivery date and time, which improves the customer experience.
- Increasing number of e-tailers is expected to increase the demand for e-commerce software during the forecast period.
- Rising adoption of e-commerce software in the automotive sector is estimated to fuel the market.
- E-commerce software is perceived to be complex and multifaceted, which is anticipated to hamper the market growth.
- Increasing cyber-attacks are creating data security issues, which is expected to hinder the market for e-commerce software.
Scope of E-commerce Software Market Report
The report on the e-commerce software market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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E-commerce Software Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Deployment (On-premise and Cloud-based), End-users (Food & Beverages, Apparel & Fashion, Automotive, Healthcare, Home & Electronics, BFSI & Technology, and Others), and Regions
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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SAP SE, Shopify, Salesforce.com, Inc., Oracle, and Pitney Bowes Inc.
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E-commerce Software Market Segment Insights
The cloud-based segment held a major share of more than 77% share of the total revenue in 2019
Based on deployment, the global e-commerce software market is bifurcated into on-premise and cloud-based. The cloud-based segment is expected to expand at a rapid pace during the forecast period.
The growth of the segment is attributed to the rising adoption of cloud-based technology in various industries. Cloud-based deployment offers several benefits such as centralized access, high storage capacity, reliability, and high speed. Key players such as SAP, Oracle, Adobe, and SE are focusing on large investments in cloud-based software.
The on-premise segment is anticipated to expand at a CAGR of 6% during the forecast period. The on-premise segment reduces the need for additional security. The segment growth is projected to decrease, due to the rising number of startups that conduct business over the Internet and companies that have budget restraints.
The apparel & fashion segment held a key share of around 32% of the total revenue in 2019
On the basis of end-users, the global e-commerce software market is segregated as food & beverages, apparel & fashion, automotive, healthcare, home & electronics, BFSI & technology, and others. The apparel & fashion segment is expected to expand at a substantial CAGR during the forecast period.
The growth of this segment is attributed to a rising preference for online shopping of clothes, accessories, jewelry, and bags. Moreover, rising disposal income in developing countries along with benefits such as doorstep service, 24-hour access to products, discounts offered on online shopping, and cashless transactions has encouraged dealers and consumers to opt for digital platforms.
The healthcare segment is anticipated to expand at a CAGR of more than 10% during the forecast period. E-commerce software provides opportunities for clinics and hospitals to simplify their purchase of medical equipment and other appliances. The incorporation of telemedicine with e-commerce software is expected to improve the patient experience during the forecast period, which in turn, is estimated to drive the market.
Regional Analysis
In terms of regions, the global e-commerce software market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is anticipated to expand at a robust CAGR during the forecast period.
The growth of the market is attributed to the presence of prominent players such as Shopify, Oracle Corporation, and Saleforce.com, Inc. Moreover, increasing e-commerce sales in the US is driving the e-commerce software among various retailers. Retailers are taking up new initiatives and investing in e-commerce software to gain profits.
The market in Asia Pacific is estimated to expand at a substantial CAGR of 16% during the forecast period. The growth of the region is attributed to the initiatives taken by the governments of developing countries such as India and China to support digitalization.
Segments
The global e-commerce software market has been segmented on the basis of
Deployments
End-users
- Food & beverages
- Apparel & fashion
- Automotive
- Healthcare
- Home & electronics
- BFSI & technology
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players in the global e-commerce software market include SAP SE, Shopify, Salesforce.com, Inc., Oracle, and Pitney Bowes Inc. Market players are concentrating on expanding their business through mergers and acquisitions.
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