New York, USA, June 19, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR), “E-Commerce Platform Market Information Deployment Mode, By Organization Size, And by Region – Market Forecast Till 2032”, the E-Commerce Platform Market could thrive at a rate of 13.50% between 2023 and 2032. The market size will be reaching around USD 18.12 billion by the end of the year 2032.
Market Synopsis:
Ecommerce platform refers to the content management system (CMS) and commerce engine websites that allow businesses to manage their assets, omnichannel marketing, and digital sales & operations virtually/online. Thus, these platforms help merchants/ online retailers manage relationships with users centrally. All large or small B2B or B2C businesses can sell tangible goods or provide remote services through ecommerce platforms.
Today, consumers increasingly prefer to connect and shop online. This statistic is expected to accelerate in the next few years. Successful companies incorporate ecommerce platforms into their business operations to extend their reach, allowing consumers to buy things online. Simultaneously, major ecommerce companies such as Amazon and Alibaba are expanding their global platforms by buying up smaller local platforms, especially in emerging markets.
Digitization has allowed substantial improvements in the value chain and decreased lead times for retailers. With the shortening value chain, the margin of distributors and middlemen can be divided among customers, parts manufacturers, and online players. Also, the reduction in trade steps has enabled the market players to expect lower and more stable margins. Furthermore, the growth of the global e-commerce industry and digitization of channels and interfaces push market revenues.
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Competitive Analysis:
Leading e-commerce platform market players are:
- BigCommerce Pty. Ltd
- Shopify Inc.
- Magento
- VTEX
- Yo! Kart
- WooCommerce
- Miva Inc.
- Oracle Corporation
- com
- Digital River Inc.
- SAP SE
- com Inc
- Commercetools GmbH
Scope of the Report - Global E-Commerce Platform Market:
| Report Metrics | Details |
| Market Size by 2032 | USD 18.12 billion |
| CAGR during 2023-2032 | 13.50% |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Key Market Opportunities | Technological advancements |
| Key Market Dynamics | Increase population Growing penetration of smartphones Increasing working population Adoption of Big data Analytics |
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COVID-19 Analysis:
The COVID-19 pandemic has had a significant impact on e-commerce, as highlighted by various sources such as the research papers, news articles, and Wikipedia pages that discuss this topic. The pandemic forced many brick-and-mortar retailers to shut their doors, leading to a surge in online sales and causing e-commerce platforms to expand their offerings to include new firms, customers, and types of products. In response to the increase in demand, several e-commerce platforms witnessed significant growth in transactions during the pandemic, and many businesses have adopted and invested in e-commerce to sustain themselves during this time.
Research analyzing consumer dynamics on general e-commerce platforms and user behaviour in C2C platforms has revealed that COVID-19 has resulted in changes in customers' preferences, shopping patterns, and the pricing strategies of e-commerce platforms. The pandemic has also led to the rapid growth of the e-commerce platform market, prompting several businesses to consider and invest in digital transformation to take advantage of the ongoing trend. However, it's important to note that e-commerce platforms faced significant operational and logistic challenges due to the pandemic-induced supply chain disruptions, shortages of inventory, and increased pressure on delivery capacities.
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Segments:
The e-commerce platform market is segmented into types, applications, and regions. The type segment is sub-segmented into cloud and on-premise. Of these, the cloud segment dominates the market, witnessing widespread adoption across the ecommerce industry. Cloud-based deployment of ecommerce platforms offers benefits such as large storage capacities, high speeds, centralized access, and dependability.
Besides, substantial investments by market leaders like Adobe, Oracle, and SAP SE in cloud-based ecommerce platforms boost the segment's growth. The application segment is sub-segmented into fashion & apparel, electrical & electronics, food & beverage, health & beauty, and others. Among these, fashion & apparel is the largest segment, witnessing the growing popularity of online shopping.
Changing fashion trends and the rapid shift to online apparel, bags, accessories, and jewelry shopping push the segment growth. Clothing merchants are increasingly adopting online platforms to expand their consumer base due to their minimal digital entry barriers.
Moreover, rising disposable income in developing economies, alongside the convenience benefits offered by online platforms, such as 24-hour access to products, cashless transactions & discounts, and door-to-door delivery services, has led merchants to opt for digital platforms. By regions, the e-commerce platform market is sub-segmented into the Asia-Pacific, MEA, Americas, Europe, and the rest of the world.
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Regional Analysis:
North America dominates the global e-commerce platform, witnessing the large presence of notable market participants like Shopify, Oracle, and Salesforce.com. Another key growth driver is growing online sales in the US, and Canada drives the demand for e-commerce platforms from the retailers in this region, embracing new initiatives and investing significantly to obtain a competitive advantage in their respective business sectors.
Europe is another major market for e-commerce platforms offering greater flexibility and customized features. Moreover, increasing online sales of vehicles and automotive components boost the e-commerce platform market growth. The growing inclination of consumers towards purchases from international markets where low-cost components and a wider range of products or brands are available fosters the e-commerce platform market size.
The e-commerce platform market witness’s significant strategic initiatives, such as collaboration, mergers & acquisitions, expansion, and technology launches. Matured industry players make strategic investments to drive research and development activities and expansion plans. Technology providers provide end-to-end tools needed to build a website, accept orders, track inventory, process payments, manage to ship, market the brand, and analyze data.
Industry Trends:
The global e-commerce platform market is growing at a rapid pace. The rise in internet penetration, economic growth, and the number of online shoppers positively impact the e-commerce platform market revenues. The rapid expansion of big data analytics and technology upgrades are key drivers enhancing the e-commerce platform market growth.
Technological upgrades and the development of many e-commerce platforms push the market's growth. Also, the rising availability of online warehouse distributors and automotive stores is a significant tailwind benefiting e-commerce platform growth. eCommerce platforms provide all the components a merchant needs to operate and grow its online business without complicating day-to-day operations. Furthermore, using an eCommerce platform is much more economical than using many plugins.
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- Automotive E-Commerce Market is projected to grow from USD 70.23 Billion in 2022 to USD 202.15 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 19.67% during the forecast period (2022 - 2030)
- E-Commerce Logistics Market is projected to grow to USD 1264 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.86% during the forecast period (2022 - 2030)
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