E-commerce Software and Platform Market - Revenue Surge Motivated by New Product Offerings, reports

From: Fact.MR
Published: Tue May 28 2019

Pervasiveness of e-commerce has transformed the retail sector by introducing online platforms for purchasing commodities and goods. Retailers have witnessed increased inclination of customers toward online purchasing on the back of high convenience and cost effectiveness of online platforms. This aspect has triggered retailers to adopt e-commerce software and platform to enhance customer shopping experience and increase their visibility to reach remote customers to increase sales of their products and services. Moreover, e-commerce software and platform provides seamless customer experience by linking mobile, offline and online shopping channels. E-commerce software and platforms enable delivery of all services and products of the retailer on a single platform, in turn increasing the convenience quotient for customers. This factor is likely to fuel the adoption of e-commerce software and platform in the forthcoming years.

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Integration of Data analytics with E-commerce Pave new Growth Opportunities

Robust growth of Big Data analytics has resulted in paradigm shift in the e-commerce industry. Data is now looked upon not as a bi-product of a business, but considered as a vital asset offering insights on customer behavior in terms of purchasing patterns, frequency and choice. It is now used as an important performance measure of a business that can be leveraged to enhance business activities and profits. In a bid to simplify complexities associated with Big Data analytics, providers of e-commerce software are integrating AI and data analytics with e-commerce software and platform. This integration has enabled enhanced customer traffic, in turn facilitating high revenue generation and improved sales. Moreover, e-commerce software and platform also provides analysis on customer satisfaction than can be used by retailers to explore new opportunities and increase profitability. Big Data analytics integration with e-commerce has significantly propelled the demand for e-commerce software and platform, in turn favoring their market’s growth during the period of forecast, 2018-2028.

Huge Data Volume and Internet Traffic to pose Challenges

Scalability and flexibility of the e-commerce software and platform is largely impacted by the network infrastructure and the ability to handle increased traffic and rising demand for bandwidth. Increasing traffic is likely to result in software failure, which is expected to confine the growth of the e-commerce software and platform market. However, vendors of e-commerce software and platform are focused on enhancing network infrastructure to overcome this challenge.

Rising Cybercrimes to Challenge Demand for e-commerce Software and Platform

Increasing cybercrimes worldwide has posed a significant setback to the IT sector. Growing hacking threats and phishing attacks can potentially result in security breaches, and confidential data leak. This can further lead to misuse of customer data in turn inducing a dent in customer confidence resulting in high attrition rate. This aspect continues to challenge the demand of the e-commerce software and platform and its overall market’s growth.

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The report on e-commerce software and platform market includes a detailed market taxonomy that has covered every angle of the market presenting a 360 degree view for the reader. The report on e-commerce software and platform market contains analysis on every market segment that has an impact on its growth during the assessment period. The e-commerce software and platform market is segmented on the basis of deployment, business model, end user and region. The deployment category is further classified into on-premise and SaaS (Software as a Service). The business model segment is categorized into business-to-business, business-to-consumer, marketplace and others. Moreover, analysis on various end users such as electronics, apparels, travel and tourism, home and furnishing and others have been covered in detail in the e-commerce software and platform market report. Regional assessment includes analysis on regions of North America, Latin America, Europe, CIS and Russia, Japan, Asia Pacific excluding Japan (APEJ) and Middle East and Africa (MEA). It also covers analysis on various countries such as United States, EU-4, United Kingdom, Greater China, India and GCC countries, to name a few.

Note: Apart from the mentioned countries, the report covers analysis on Canada, ASEAN countries, BENELUX, South Korea, South Africa, Israel and Turkey.

Competition Landscape

The research report on e-commerce software and platform market offers a complete understanding on the competition involved in the marketplace. This chapter reveals analysis on several key companies participating in the e-commerce software and platform market, including aspects such as product portfolio analysis, company overview, market shares, marketing strategies and mergers and acquisitions. The report also provides a thorough SWOT analysis with developments and product innovations carried out by major players. For instance, in 2017, SAP SE acquired Gigya, an organization that supports in managing online customer profiles and identities, in a bid to reinforce its Hybris e-commerce division. Likewise, in 2017, Oracle Corporation introduced its Oracle Commerce Cloud for Lenox in order to modernize shopping experience. The report on e-commerce software and platform market has profiled key players such as Oracle Corporation, SAP SE, Shopify Inc., Salesforce and IBM, to name a few.

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