Summary

The Digital Commerce Platform market is expected to register a CAGR of around 13% 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. Increasing demand for digital commerce has prompted enterprises to invest in new digital business designs, in order to enhance customer experience. Companies are exploiting the benefits of social media platforms, in order to gather more information about customers and serve them better by understanding customer satisfaction. Digital commerce has transformed customer experience in terms of accessibility and visibility. Moreover, organizations are transforming internal processes such as ERP which has transformed the way organizations were handling various transactional, supply chain, and financial processes. An increasing number of smartphones, tablets, and broadband connections is expected to support the growth of the global digital commerce platform market in the near future. For instance, according to the OECD, there were around 472 million fixed broadband connections worldwide in the year 2021. In emerging countries such as India online sales are primarily driven by the growing adoption of portable devices.

The Majority market is held by Shopify inc. SAP SE, Oracle Corporation, Magento Commerce, Salesforce.com Inc., WooCommerce, Sitecore Kentico Software, Unilog Content Solutions Pvt Ltd, IBM Corporation.

Insights Presented in the Report
“Amongst business model, business to consumer category accounted for the majority share in the market in 2020”
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.

“Amongst deployment, on-premises is expected to witness highest CAGR during the forecast period”
Based on deployment, the market is segmented into cloud and on-premises. The cloud segment is expected to achieve a higher CAGR during the forecast period. The growing demand for cloud services can be attributed to the cost-effectiveness of cloud services. As companies can eliminate unnecessary hardware or rigid on-premises assets and easily right-size computing resources according to their unique business requirements. Furthermore, the integration of cloud-based solutions and services helps organizations to reduce their operational cost significantly as they can be accessed from anywhere.

“Amongst browsing method, mobile/tablets, is expected to witness highest CAGR 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. The growing adoption of the mobile/tablets segment can be attributed to the changing consumer preferences, rise in population, and surge in affordability of internet connections &mobile phones across the globe. The emergence of affordable smartphones and internet connections are key factors resulting in the rise in demand for retail digital commerce, owing to technological advancements, the number of people who can afford electronics such as smartphones has increased considerably over the past few years. 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. This has further led to the expansion of digital industries, including e-commerce, which, in turn, drives the demand for digital commerce solutions.

“Amongst payment method, the card payments are expected to witness the highest CAGR during the forecast period”
Based on the payment model, the market is segmented into card payments, bank transfers, digital wallets, cash payments, and cryptocurrencies. Card payments are expected to grow significantly during the forecast period, mainly because of the security, card payments often come with enhanced security features, such as chip technology, to reduce fraud. Furthermore, card payments offer other benefits such as convenience, wider acceptance, rewards, and perks are expected to drive the market during the forecast period.

“Amongst end-use, the fashion & apparel is expected to witness highest CAGR during the forecast period”
Based on end-user, the market is segmented into food & beverages, fashion & apparel, health & beauty, electronics, automotive, home & furniture media & entertainment others. The fashion & apparel segment is expected to hold a significant share in the digital commerce platform market owing to the increasing adoption of online shopping for clothing and bags & accessories. Furthermore, deepening internet penetration is a primary growth factor in enhancing sales figures. Clothing retailers have adopted online platforms to widen their consumer base due to low digital entry barriers.

“North America to witness significant growth during the forecast period”
For a better understanding of the market adoption of digital commerce platform, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, UK, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), Rest of World. North America provided the market with the leading demand volume as well as revenue generation. The market for digital commerce platforms in North America is projected at a significant CAGR within a forecast period. This region owes its lead to a massive existing base of digital media users, powered by the high use of smartphones and high-speed data networks and internet services. This region is currently showing phenomenal growth within the global digital commerce platform market in its B2B business model segment, while the North American retail segment has already been a prominent source of revenue for the market players.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
Digital Commerce Platform market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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