ECommerce Platform Market by eCommerce Model (B2B and B2C), Offering (Solutions and Services), Industry (Beauty & Personal Care, Consumer Electronics, Home Decor, Fashion and Apparel, F&B), and Region - Global Forecast to 2028

ECommerce Platform Market by eCommerce Model (B2B and B2C), Offering (Solutions and Services), Industry (Beauty & Personal Care, Consumer Electronics, Home Decor, Fashion and Apparel, F&B), and Region - Global Forecast to 2028

MarketsandMarkets forecasts that the eCommerce platform market size is projected to grow from USD 7.0 billion in 2023 to USD 13.5 billion by 2028, at a CAGR of 13.8% during the forecast period. E-commerce platforms give businesses the opportunity to interact with a sizable and varied global audience without being bound by the restrictions of traditional store locations. Firms have the freedom to conduct business anywhere in the globe through the growth of their client base and the investigation of untapped markets. SMEs have started to utilize the possibilities of eCommerce and understand that its adoption could speed up the expansion of their firm in both domestic and global markets.

“By Solution, the payment & billing solutions subsegment is expected to grow with the highest CAGR during the forecast period.”

The payment & billing solutions enable B2B and B2C enterprises to manage the subscription life cycle, from subscription plans to subscriber’s accounts, along with the recurring billing process. The software automates the operational tasks, such as activating and canceling subscriptions, making changes to them, carrying out billing and invoicing, tracking payments and sending payment reminders, and managing credits, discounts, promotions, and even trial periods. Business owners also benefit from a subscription-based business model, allowing them to generate a continued revenue stream from a single sale. A subscription eCommerce platform can help reduce administrative labor, increase customer satisfaction, save time, and increase profit margins.

“By health & wellness segment is expected to grow with the highest CAGR during the forecast period.”

Consumers are focused on healthy lifestyles, greatly impacting the e-commerce health and wellness industry. Increasing digitalization has forced the healthcare industry to adopt technological solutions and transform its business online. SMEs and start-ups are developing new strategies to enhance their footprint in this market by leveraging the benefits of online platforms such as Amazon. The health and wellness industry has quickly adapted to the rise in consumer demands by offering multiple product ranges with lucrative offers. Online platforms have revolutionized how people access and consume health products, services, and information in the health and wellness industry.

“Asia Pacific is expected to grow with the highest CAGR during the forecast period.”

The ongoing urbanization and investments in the region have led to significant demand for eCommerce platform systems. The past two years have seen an increase in home-grown online first brands, and many of these companies are now planning to expand into international markets, particularly in the Middle East and Southeast Asia. This expansion will bring in international capital and boost other Indian brands to expand globally. The B2C ecosystem may also experience some consolidation, with traditional brands or leading B2C companies acquiring other businesses in India and international markets to drive their growth

Breakdown of primaries

The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:

By Company Type: Tier 1 – 35%, Tier 2 – 39%, and Tier 3 – 26%

By Designation: C-level –25%, D-level – 35%, and Others – 40%

By Region: North America – 35%, Europe – 20%, Asia Pacific – 44%, RoW- 1%

The major players in the eCommerce Platform market are Shopify (Canada), eBay (US), Etsy (US), Square (US), BigCommerce (US), Amazon (US), Adobe (US), Wix (Israel), Oracle (US), Squarespace (US), WooCommerce (US), SAP (Germany), Salesforce (US), StoreHippo (India), Trade Me (New Zealand), Ecwid (US), OpenCart (China), Volusion (US), PrestaShop (France), Shift4Shop (US), Fast Spring (US), Shopware (Germany), VTEX (UK), Nuvemshop (Brazil), Tray.io (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, product enhancements, and acquisitions to expand their footprint in the eCommerce Platform market.

Research Coverage

The market study covers the eCommerce Platform market size across different segments. It aims at estimating the market size and the growth potential across different segments, including offering, eCommerce model, industry, and region. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.

Key Benefits of Buying the Report

The report will help the market leaders/new entrants with information on the closest approximations of the eCommerce Platform market’s revenue numbers and subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market’s pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Increasing online consumer base with growing adoption of smartphones will fuel the demand for eCommerce platform, Omnichannel retailing is driving the demand of eCommerce platform, Increasing internet penetration across the globe to fuel the adoption of eCommerce platform, Rising need to enhance global presence will increase the adoption of eCommerce platform), restraints (Cybersecurity issue and online scams can hinder the growth), opportunities (Development of supper apps to offer more simple and convenient shopping options, Rising investment in the eCommerce sector, Buy now pay later (BNPL) is a leading tech sector to support the growth of eCommerce platform market), and challenges (Logistics and fulfillment are critical aspects of the e-commerce process, and can pose substantial challenges for businesses, Customer acquisition, and retention can be expensive in this competitive era) influencing the growth of the eCommerce Platform market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the eCommerce Platform market.

Market Development: Comprehensive information about lucrative markets – the report analyses the eCommerce Platform market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the eCommerce Platform market.

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Shopify (Canada), eBay (US), Etsy (US), Square (US), BigCommerce (US), Amazon (US), Adobe (US), Wix (Israel), Oracle (US), Squarespace (US), WooCommerce (US), SAP (Germany), Salesforce (US), StoreHippo (India), Trade Me (New Zealand), Ecwid (US), OpenCart (China), Volusion (US), PrestaShop (France), Shift4Shop (US), FastSpring (US), Shopware (Germany), VTEX (UK), Nuvemshop (Brazil), Tray.io (US).