Opportunities Abound in APEJ, with a 4.4x Surge in E-commerce Software and Platform Sales Through 2032, Says Fact.MR
Published : 12 Jan 2022 Industry: Technology
Fact.MR foresees that the demand for e-commerce software and platforms is projected to expand at a CAGR of 12.5% in terms of value during the period of assessment. Moreover, the report estimates that the sales of e-commerce software and platform are likely to surpass US$ 12.37 Bn by end of 2032.
Sales of e-commerce software and platform via business-to-business model are expected to grow at a significant pace throughout the assessment period, on the back of large order values coupled with increasing conversion rates. The fast pace of e-commerce software and platforms has enabled quick business-to-business order fulfillment in turn facilitating better customer experience.
This aspect has pushed the sales of business-to-business e-commerce software and platform during the period of assessment. The proliferation of cloud technology has paved potential growth pathways for the e-commerce sector. The demand for e-commerce software and platform using the SaaS platform for deployment is likely to increase at a meteoric pace on the back of the growing popularity of cloud and Internet of Things (IoT) worldwide.
Key Takeaways from the Market Study
- SaaS-based e-commerce software and platforms deployment to account for 80% of the total market
- By business type, B2B e-commerce software deployment to comprise 3/5th of the global market
- U.S to be the most opportunistic market, expected to accumulate around 40% revenue share
- India & China to jointly account for 60% of the global e-commerce software and platforms market
- APEJ to represent over 4x increase with respect to e-commerce software and platform demand
- Global market for e-commerce software and platform to be valued at US$ 3.81 Bn in 2022
Increasing reliance on virtual technology with the aim of streamlining marketing and sales of various consumer goods and the increasing reliance on online shopping platforms is widening growth prospects for the e-commerce software and platforms market, remarks a Fact.MR analyst.
The competitive landscape of the e-commerce software and platform market is shaped by product innovation and strategic mergers & acquisitions. Oracle Corporation, SAP SE, Shopify Inc., Salesforce, IBM are some prominent manufacturers of e-commerce software and platform.
- In January 2022, YesStyle.com, a leading e-commerce platform for fashion, beauty, and lifestyle products owned by YesAsia Holdings Ltd. selected Oracle Fusion Cloud Customer Experience (CX) to automate its marketing platform with flexible and reliable AI-driven technology solutions.
- In November 2021, Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys announced that the Finacle Digital Banking Solution Suite will be available on Red Hat OpenShift and IBM Cloud for Financial Services. This collaboration will help banks scale business transformation, become more agile, and power their growth with an on-demand portfolio of products and services
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the market providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of deployment (on-premise and SaaS), business model (business-to-business (B2B), business-to-customer (B2C), marketplace and others) and end user (electronics, apparels, travel & tourism, home & furnishing and others) across seven regions (North America, Latin America, Europe, CIS & Russia, Japan, APEJ and Middle East & Africa).
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Consultant – ICT