Proliferation of e-commerce has prevailed over the past few years transforming the online retailing sector worldwide. Growing e-commerce platforms coupled with increasing inclination of e-commerce software and platform market . User-friendliness and affordability of e-commerce software are expected to fuel demand for e-commerce software and platforms across a cohort of industries. With significant growth in the e-commerce sector, there are several macroeconomic and industry-related factors.Fact.MR foresees that the demand for e-commerce software and platform is projected to expand to a CAGR of 12.5% in terms of value during the period of assessment, 2018-2028. Moreover, the e-commerce software and platform are expected to surpass US $ 13,000 million by end of the year of assessment .
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Sales of e-commerce software and platforms via the business-to-business model are expected to grow at a significant pace throughout the assessment period. Fast pace of e-commerce software and platforms have enabled business-to-business or fulfillment in turn facilitating better customer experience. This aspect of business-to-business commerce has e-commerce software and platform during the period of assessment. In addition, the report also says that the marketplace e-commerce software and platform is projected to gain high traction and is expected to grow at a stellar CAGR of 17.6% in terms of value during 2018-2028.
Proliferation of cloud technology has paved potential growth pathways for e-commerce sector. The demand for e-commerce software and platforms using the SaaS platform for deployment is likely to increase at a meteoric pace on the back of growing popularity of cloud and Internet of Things (IoT) worldwide. On-premise deployment is slowly witnessing a setback with rapidly evolving technology and advances in the IoT and Big Data analytics space, says the report. Sales of e-commerce software and platforms using SaaS deployment model are expected to surpass those using the on-premise deployment model, reveals Fact.MR study.
Sales of e-commerce software and platforms are expected to remain resurgent across various industries, especially electronics and apparel sectors. B2C sales of electronic components, says the report. The use of e-commerce software and platform in the future. Moreover, e-commerce software and platform, in turn making it a lucrative end use industry for vendors of e-commerce software and platform.
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Asia Pacific excluding Japan (APEJ) region remains a key market for e-commerce software and platform. Emerging countries of India and Greater China are expected to present potential growth pathways for vendors of e-commerce software and platforms. Crypto-currency and blockchain have significantly changed the e-commerce space in turn for demand for e-commerce software and platform. Blockchain is involved in managing transactions and currencies without bank interference, which is expected to emerge as a potential trend in e-commerce software and platform market in APEJ. The sales of e-commerce software and platforms in APEJ are estimated to cross US $ 4,400 Mn by end of 2028,
European countries are thus anticipated to high demand for e-commerce software and platform. The sales of e-commerce software and platform in this region are largely attributed to high popularity of voice activation devices and voice based search. North America is therefore expected to make significant contributions to the overall growth of e-commerce software and platform market, says the report. Demand for e-commerce software and platform in North America is projected to grow at a noteworthy pace during the assessment period of Chabot’s e-commerce platform. Overall the growth prospects for the e-commerce software and platform are likely to remain strong, translating into a promising future for vendors in the coming years.
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