The Digital Commerce Platform Market is Expected to Foresee Significant Growth. North America to Lead the Growth!
- Vikas Kumar
- March 13, 2023
- NEWS, TELECOM & IT
- Adobe, Digital Commerce platform, Digital Commerce platform market, Digital Commerce platform market analysis, Digital Commerce platform market forecast, Digital Commerce platform market growth, Digital Commerce platform market opportunities, Digital Commerce platform market share, Digital Commerce platform market size, Digital Commerce platform market trend, IBM Corporation, Kentico Software, Oracle, Salesforce Inc., SAP SE, Shopify Inc., Sitecore, Unilog Inc., WooCommerce
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The Digital commerce platform market is expected to register a CAGR of around 13.0% over the period of 2021-2027.
Digital commerce is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, basically on the internet. Digital commerce is powered by the internet, where customers can access an online store to browse through, and place orders for products or services via their own devices.
The digital commerce platform market is experiencing significant growth, As the world becomes increasingly digitized, demand for virtual platforms for easy business conduct is driving companies to encourage online commerce platforms. Furthermore, The COVID-19 pandemic has undoubtedly altered global purchasing behavior, with traditional retailing taking a backseat. A paradigm shift towards a more digitized world is overt, with triggered changes in shopping habits likely to have long-lasting consequences.
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Based on business model, the market is segmented into, business to consumer, consumer to business, business to business, and consumer to consumer and others. The business-to-consumer segment was a highly preferred business model in digital commerce and accounted for the total market revenue. The main reason for this growth is the low supply cost and easier implementation than traditional sources of business. Furthermore, it becomes easier for companies to penetrate the consumer market as they can collect a plethora of consumer data that they can use for customer retention and new product development.
Based on deployment, the market is segmented into on-premises and cloud. The cloud segment is expected to grow significantly during the forecast period. The growth of the cloud segment can be attributed to factors such as less capital investment, easier deployment options, and greater data security. Furthermore, the application and data deployed on the cloud platforms are accessible from anywhere which is expected to drive its demand during the forecast period.
Based on the browsing method the market is segmented into desktop/laptop and mobile/tablet. The mobile/tablet market is expected to grow exponentially during the forecast period, owing to technological advancements, the number of people who can afford electronics such as smartphones has increased considerably over the past few years. For instance, according to oberlo.in, there are around 6.8 billion smartphone users around the world in the year 2023. Moreover, access to the internet has surged in the past few years, which is why a larger number of people are able to shop online.
For a detailed analysis of the digital commerce platform market, browse through– https://univdatos.com/report/digital-commerce-platform-market/
For a better understanding of the market adoption of the digital commerce platform, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Mexico); Europe (Germany, Poland, Turkey, Sweden, and Rest of Europe); Asia-Pacific (China, India, Australia, Rest of Asia-Pacific), and Rest of World. North America provided the market with the leading demand volume as well as revenue generation. North America is expected to remain a profitable and the largest digital commerce market, attributed to deepening internet penetration and access to smart devices. For instance, around 70% of households have multiple streaming subscription services in the U.S. Also, demand for software maintenance, design, and implementation services is increasing, generating green spaces for key vendors in the U.S. The market expansion in the U.S. is being driven by a large existing base of digital media users, growing usage of smartphones and high-speed data networks, and internet services.
Some of the major players operating in the market include SAP SE, Oracle Corporation, Magento Commerce, Salesforce Inc., WooCommerce, Sitecore Kentico, Software Unilog Content Solutions Pvt Ltd, IBM Corporation.
Construction and Design Software Market Segmentation
Market Insight, by Business model
- Business to consumer
- Consumer to business
- Business to business
- Consumer to consumer
- Others
Market Insight, by Deployment
- Cloud
- On-Premise
Market Insight, by Browsing method
- Desktop/laptop
- Mobile and Tablets
Market Insight, by Payment method
- Card Payments
- Bank Transfers
- Digital Wallets
- Cash Payments
- Cryptocurrency
Market Insight, by End-use
- Food & Beverages
- Fashion & Apparels
- Health & Beauty
- Electronics
- Automotive
- Home & Furniture
- Media & Entertainment
- Others
Market Insight, by Region
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Shopify Inc.
- SAP SE
- Oracle
- Adobe
- Salesforce Inc.
- WooCommerce
- Sitecore
- Kentico Software
- Unilog, Inc.
- IBM Corporation
