Sales of E-Commerce Software and Platform are Likely to Surpass US$ 13,000 Mn by 2028 end

Posted on 2021-11-05 by Future Market Insights, Inc in Technology // 0 Comments

Proliferation of e-commerce has prevailed since the past couple of years transforming the online retailing sector worldwide. Growing e-commerce platforms coupled with increasing inclination of customer toward using online retail channels continue to influence the growth of the e-commerce software and platform market. User-friendliness and affordability of e-commerce software are expected to fuel the demand for e-commerce software and platform across a cohort of industries. With significant growth in the e-commerce sector, stakeholders involved in the e-commerce software and platform can expect momentous growth in the coming years that is largely influenced by several macroeconomic and industry- related factors.

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Fact.MR foresees that the demand for e-commerce software and platform is projected to expand at a CAGR of 12.5% in terms of value during the period of assessment, 2018-2028. Moreover, the report estimates that the sales of e-commerce software and platform are likely to surpass US$ 13,000 Mn by end of the year of assessment.

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. Fast pace of e-commerce software and platforms have enabled quick business-to-business order fulfilment 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. 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.

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Sales of e-commerce software and platform are expected to remain resurgent across various industries, particularly electronics and apparels sectors. The use of e-commerce software and platform in electronics is expected to remain significant throughout the period of forecast on the back of increasing B2C sales of electronic components, says the report. Moreover, travel and tourism industry has also reflected higher inclination toward use of e-commerce software and platform, in turn making it a lucrative end use industry for vendors of e-commerce software and platform.

Asia Pacific excluding Japan (APEJ) region continues to remain a key lucrative 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 platform owing to growing e-commerce industry in this region. Crypto-currency and blockchain have significantly transformed the e-commerce space in turn fuelling 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 revolutionizing the e-commerce software and platform market in APEJ. The sales of e-commerce software and platform in APEJ are estimated to cross US$ 4,400 Mn by end of 2028, making the region a key revenue pocket for e-commerce software and platform vendors.

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