E-Commerce Platform Market is predicted to reach USD 18.12 billion at a CAGR of 13.50% during the forecast period 2023-2032

MRFR recognizes the following companies as the key players in the global E-Commerce Platforms market— Shopify Inc., BigCommerce Pty. Ltd, Magento, Yo! Kart, VTEX, WooCommerce, Oracle Corporation, Miva Inc., Wix.com, SAP SE, Digital River Inc., commercetools GmbH,  and Salesforce.com Inc.

The global E-Commerce Platform Market is accounted to register a CAGR of 13.50% during the forecast period and is estimated to reach USD 18.12 billion by 2032.

 

E-commerce software streamlines complex processes and assists businesses in effectively managing their inventory, calculating taxes, and other business functions. It includes customizable site templates, optimization for search engines, an integrated purchasing cart, inventory management, email marketing, and analytics. E-commerce platforms enable small retailers to serve millions of consumers and generate substantial revenue in the online industry. In addition, these platforms are designed with best-in-class features to assist small-scale retailers in expanding into large enterprises, thereby creating numerous opportunities for local vendors to attract a large volume of traffic.

 

In addition, e-commerce software and platforms provide a unified consumer experience by integrating mobile, offline, and online retail channels. The rising number of e-retailers is anticipated to generate a substantial demand for ecommerce software and platforms throughout the forecast period. E-tailers sell their products and services to customers via online platforms instead of possessing or leasing a physical store. Compared to other merchants, they rely heavily on e-commerce software and platforms.

Segment Analysis

The global E-Commerce Platform market has been segmented based on type and application.

On the basis of type, the market is segmented into cloud and on-premise. The cloud segment was attributed to holding the largest market share in 2022.

Based on application, the global e-commerce platforms market has been segmented into fashion & apparel, electrical & electronics, food & beverage, health & beauty, and others. The fashion & apparel segment was expected to hold the largest market share in 2022.

Regional Analysis

The global E-Commerce Platform market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe E-Commerce Platform market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The E-Commerce Platform market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World E-Commerce Platform market comprises of Middle East, Africa, and Latin America.

The E-Commerce Platform market in North America will dominate this market. Due to the presence of notable market participants such as Oracle Corporation, Shopify, and Salesforce.com, Inc., this is the case. In addition, increasing U.S. e-commerce sales drive retailers' demand for e-commerce software. To gain a competitive edge in their respective industries, retailers are embracing new initiatives and making substantial investments in e-commerce software.

Europe holds the second-largest market share for E-Commerce Platforms in 2022. Multiple nations are employing e-commerce software due to a heightened emphasis on increasing e-commerce sales.

From 2023 to 2032, the Asia-Pacific E-Commerce Platform Market is anticipated to grow at the highest CAGR. This increase is attributable to China and India's initiatives to promote digitalization in their respective countries. As a result, the amount of Internet users has increased.

Due to numerous e-commerce applications in Latin America and the Middle East & Africa, the demand for e-commerce platforms is expected to increase in the region.

Key Findings of the Study

• The global E-Commerce Platform market is expected to reach USD 324.7 billion by 2032, at a CAGR of 13.50% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market. A rise in e-commerce application awareness in Asia-Pacific is anticipated to increase demand for e-commerce platforms during the period anticipated.


• Based on type, the cloud segment was attributed to holding the largest market in 2022, with an approximate market share of 45–65%.


• Shopify Inc., BigCommerce Pty. Ltd, Magento, Yo! Some key market players are Kart, VTEX, WooCommerce, Oracle Corporation, Miva Inc., Wix.com, SAP SE, Digital River Inc., commercetools GmbH, and Salesforce.com Inc.