According to a recent report published by Grand View Research, Inc., the global e-commerce software market is projected to value at USD 20.6 billion by 2027, registering a CAGR of 16.3% over the forecast period. The COVID-19 pandemic outbreak has adversely impacted the world economy. The offline retailers and sellers have faced a major setback in their businesses as a result of the indefinite lockdowns imposed across different countries in an attempt to contain the spread of the coronavirus. People shifted to online shopping and this drove the growth of e-commerce software market.
E-commerce software market plays a vital role in helping large-scale enterprises and SMEs reach remotely located areas. Such portals aid in establishing trade and commercial relationships amongst companies. Furthermore, e-commerce software facilitates businesses to better manage their customers and suppliers, cut-down marketing costs, and boost sales.
The growing proliferation of smartphones and the penetration of internet has further fueled the market expansion. In addition, the provision offered to companies to view orders, track their inventory, and payments on mobile phones and the ease of doing business has driven the adoption of e-commerce platforms.
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E-commerce Software Market Report Highlights
- The cloud segment is anticipated to observe the fastest CAGR of more than 15.0% over the forecast period and can be ascribed to the rising popularity of cloud-based technology across several industry verticals
- The apparel and fashion segment captured the largest revenue share of 30.8% in 2019 and is attributed to the increasing number of online merchants operating in the apparel sector
- Asia Pacific region is set to experience the fastest CAGR exceeding 16.0% from 2020 to 2027. This is mainly due to the widespread digitalization initiatives undertaken by public sectors and governments of countries such as China and India
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E-commerce Software Market Segmentation
Grand View Research has segmented the global e-commerce software market on the basis of deployment, end use, and region:
E-commerce Software Deployment Outlook (Revenue, USD Million, 2016 – 2027)
- Cloud
- On-premise
E-commerce Software End-use Outlook (Revenue, USD Million, 2016 – 2027)
- Apparel & Fashion
- Food & Beverage
- Automotive
- Home & Electronics
- Healthcare
- BFSI & Technology
- Others
E-commerce Software Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa
List of Key Players of E-commerce Software Market
- 3dcart
- Adobe
- BigCommerce Pty. Ltd.
- HCL Technologies Limited
- Intershop Communications AG
- Oracle
- Pitney Bowes Inc.
- Salesforce.com, Inc.
- SAP SE
- Shopify
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About Grand View Research
Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.
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