Market Insights Technology Software Enterprise Software

eCommerce Software - Worldwide

Worldwide

The eCommerce Software market is anticipated to witness a substantial growth in the coming years, with projected revenue of US$8.04bn by 2024.
This growth is expected to continue with a compound annual growth rate (CAGR) of 3.87% between 2024 and 2029, resulting in a market volume of US$9.72bn by 2029.
Furthermore, the average Spend per Employee in the eCommerce Software market is estimated to reach US$2.26 in 2024.
This indicates that companies in this market are investing significantly in their workforce to drive growth and innovation.
In a global context, it is noteworthy that United States is expected to generate the highest revenue in the eCommerce Software market, with projected earnings of US$4,364.00m in 2024.
This highlights the dominance of the US market in this sector worldwide.
The eCommerce software market in the United States is experiencing a surge in demand due to the rapid growth of online retail.

Key regions: China, Japan, Germany, United Kingdom, France

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Analyst Opinion

The eCommerce Software market has been experiencing significant growth worldwide.

Customer preferences: Customers have been increasingly opting for online shopping, leading to the growth of the eCommerce industry. The convenience and ease of shopping online has attracted a large number of customers, who prefer to shop from the comfort of their homes. This trend has been further accelerated by the COVID-19 pandemic, which has led to a surge in online shopping due to lockdowns and social distancing measures.

Trends in the market: The eCommerce Software market has been growing at a rapid pace in the United States. The market is being driven by the increasing number of online shoppers and the rise of mobile commerce. The demand for eCommerce software that is mobile-friendly has been increasing, as more and more customers are using their smartphones to shop online. In Europe, the eCommerce Software market has also been growing at a steady pace. The market is being driven by the increasing adoption of eCommerce software by small and medium-sized enterprises (SMEs). In Asia, the eCommerce Software market has been growing at a rapid pace, driven by the increasing adoption of eCommerce software by businesses in the region. China, in particular, has been a major contributor to the growth of the eCommerce Software market in Asia.

Local special circumstances: In the United States, the eCommerce Software market is highly competitive, with a large number of players vying for market share. The market is dominated by a few major players, but there are also many smaller players that are competing for a share of the market. In Europe, the eCommerce Software market is also highly competitive, with a large number of players operating in the market. However, the market is more fragmented than in the United States, with many smaller players competing with each other. In Asia, the eCommerce Software market is dominated by a few major players, with Alibaba and JD.com being the biggest players in the market.

Underlying macroeconomic factors: The eCommerce Software market has been growing due to a number of underlying macroeconomic factors. One of the key factors driving the growth of the market is the increasing adoption of technology by businesses. As businesses become more digitized, they are increasingly turning to eCommerce software to help them manage their online operations. Another factor driving the growth of the market is the increasing use of mobile devices. As more and more customers use their smartphones to shop online, businesses are increasingly turning to eCommerce software that is mobile-friendly. Finally, the COVID-19 pandemic has also been a major factor driving the growth of the eCommerce Software market. With lockdowns and social distancing measures in place, customers have been forced to shop online, leading to a surge in demand for eCommerce software.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.