E-commerce Software Market Size Worth $29.48 Billion By 2032 | CAGR: 15.0%

The global e-commerce software market size is expected to reach USD 29.48 billion by 2032, according to a new study by Polaris Market Research. The report “E-commerce Software Market Share, Size, Trends, Industry Analysis Report, By Deployment (Cloud, On-premise); By Application; By Region; Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis of future market growth.

Organizations utilize E-commerce software to provide their products and services online, offering various benefits such as cost reduction, improved customer experience, and efficient inventory management. This trend is expected to impact growth throughout the forecast period positively. The increasing adoption of online shopping in developing economies is also anticipated to fuel market growth. According to the India Brand Equity Foundation (IBEF), the number of online shoppers in India is projected to reach around 220.0 million by 2025. Additionally, with the introduction of 5G technology, online shopping is expected to experience further growth in the coming years. As a result, retailers are seeking solutions to meet customer requirements efficiently.

E-commerce software portals play a crucial role in assisting both SMEs and large-scale enterprises in reaching remote areas, emerging as a global business practice. These platforms not only support existing trading relationships but also facilitate the establishment of new ones between companies. Furthermore, e-commerce platforms contribute to cost reduction in marketing, enhance supplier and customer management, and increase sales engagement for businesses.

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The growing proliferation of smartphones and the expanding reach of the internet are opening new opportunities for market growth. The convenience offered by mobile devices in managing business operations, such as tracking inventory, viewing orders, and processing payments, has led to a surge in the adoption of e-commerce platforms. Additionally, in the face of intensifying competition, many businesses are embracing online business models to gain a competitive advantage in the market. This shift is driven by the recognition that digital platforms offer enhanced accessibility, efficiency, and the ability to cater to a broader customer base.

The COVID-19 pandemic has brought about an unparalleled impact on the global economy, prompting a significant shift towards online shopping, particularly for essential items like groceries and healthcare products, as physical stores faced closures to curb the spread of the virus. In response, market players are actively supporting retailers in transitioning their businesses online. For instance, 3dcart launched the COVID-19 e-commerce Assistance Fund, allocating USD 2.5 million to aid small businesses in establishing their online operations. The enduring preference for online shopping is expected to persist in the long term, driving continued growth in the market.

E-commerce Software Market Report Highlights

• The cloud segment is expected to grow at the fastest rate, owing to the rise in the adoption of cloud-based technologies
• The apparel segment garnered the largest share, owing to the shift of consumers to online portals on the back of huge discounts and cashback
• Asia Pacific will witness a lucrative growth rate, primarily due to the rise in digitization initiatives in emerging nations
• The key market players include Shift4Shop, Adobe, Big Commerce, HCL Technologies, Intershop Communications, Oracle, Pitney Bowes, & Salesforce.com.

Polaris Market Research has segmented the e-commerce software market report based on deployment, end use, and region:

E-commerce Software, Deployment Outlook (Revenue - USD Billion, 2019 - 2032)

• Cloud
• On-premise

E-commerce Software, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

• Apparel & Fashion
• Food & Beverage
• Automotive
• Home & Electronics
• Healthcare
• BFSI & Technology
• Others

E-commerce Software, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Australia
• Rest of Asia Pacific

• Latin America

• Argentina
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa
• Rest of Middle East & Africa

E-commerce Software Market Report Scope