What Fueled The Previous Growth In The Digital Commerce Platform Market?
The digital commerce platform market has seen considerable growth due to a variety of factors.
• The digital commerce platform market has grown rapidly in recent years. It is projected to increase from $12.43 billion in 2024 to $14.51 billion in 2025, at a CAGR of 16.7%.
Key factors driving this growth include higher internet penetration, increased smartphone usage, the growth of social media, enhanced consumer convenience, and the rise of subscription-based models.
What Is The Expected Growth In The Digital Commerce Platform Market Size Evolve over the Forecast Period?
The digital commerce platform market is expected to maintain its strong growth trajectory in upcoming years.
• The digital commerce platform market is expected to grow rapidly, reaching $26.68 billion by 2029 at a CAGR of 16.4%.
This growth is fueled by the increasing adoption of mobile commerce, cloud solutions, demand for personalized shopping, higher internet penetration, and the need for digital payment systems. Major trends include the adoption of AI technologies, blockchain, 5G, and augmented reality (AR).
What Main Forces Are Fueling Expansion In The Digital Commerce Platform Market?
The rising popularity of online shopping is expected to fuel the growth of the digital commerce platform market. Online shopping, characterized by its convenience and broad product range, is driving the growth of e-commerce. Digital commerce platforms provide businesses with the tools to manage products, orders, inventory, and customer data, streamlining operations. For example, the U.S. Census Bureau reported in May 2024 that e-commerce sales in the U.S. increased by 7.6% between Q3 2022 and Q3 2023. The rise of online shopping is driving the growth of digital commerce platforms.
What Are The Primary Segments In The Global Digital Commerce Platform Market?
The digital commerce platform market covered in this report is segmented –
1) By Component: Digital Commerce Platform Solutions, Digital Commerce Platform Services
2) By Business Model: Business To Consumer (B2C), Business To Business (B2B), Consumer To Business (C2B), Consumer To Consumer (C2C)
3) By Deployment Model: On Premises, Software As A Service, Fully Managed
4) By End Use: Food And Beverages, Fashion And Apparels, Health And Beauty, Electronics, Automotive, Home And Furniture, Media And Entertainment, Other End Users
Subsegments:
1) By Digital Commerce Platform Solutions: E-Commerce Platforms (B2B, B2C, C2C), Mobile Commerce Solutions, Payment Gateway Solutions, Shopping Cart And Checkout Solutions, Digital Product And Content Management Systems, Customer Relationship Management (Crm) Solutions, Personalization And Recommendation Engines, Marketing Automation Solutions
2) By Digital Commerce Platform Services: Implementation And Integration Services, Managed Services, Support And Maintenance Services, Consulting Services, Data Analytics And Reporting Services, Security And Compliance Services, Digital Marketing Services, Custom Development Services
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What Trends Are Reshaping The Future Of The Digital Commerce Platform Market?
Companies in the digital commerce platform market are enhancing digital transactions by integrating secure payment gateways to ensure safety and streamline the transaction process. Digital transactions provide greater convenience and security compared to traditional methods. For example, in January 2024, LINE Next launched DOSI, a digital commerce platform that expanded from NFTs to offer a variety of digital products, including memberships, game items, and tickets. The Web3 integration on the platform enables seamless trading, enhancing user experience globally.
Who Are the Key Players In The Digital Commerce Platform Market?
Major companies operating in the digital commerce platform market are:
• International Business Machines Corporation
• Oracle Corporation
• SAP SE
• Salesforce Inc.
• Tata Consultancy Services Limited
• HCL Technologies Limited
• Sappi Limited
• Shopify Inc.
• Radial Inc.
• Sitecore Holding II A/S
• Automattic Inc.
• BigCommerce Holdings Inc.
• Digital River Inc.
• Unilog Content Solutions Private Limited
• Mirakl SAS
• VTEX Commerce Cloud Solutions LLC
• Spryker Systems GmbH
• commercetools GmbH
• Cleverbridge GmbH
• Kibo Software Inc.
• Miva Inc.
• Kentico Software s.r.o.
• Intershop Communications AG
• Elastic Path Software Inc.
• Oro Inc
What Is The Most Dominant Region In The Digital Commerce Platform Market?
North America was the largest region in the digital commerce platform market in 2023. The regions covered in the digital commerce platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
