Global E-Commerce Platform Market 2023-2030

Global E-Commerce Platform Market 2023-2030

Global E-Commerce Platform Market Size, Share & Trends Analysis Report by Deployment Method (On-Premise, Cloud-Based, and Open-Source), by Business Size (Small and Medium-Sized Businesses (SMBs), and Enterprise Businesses), by Industry (Beauty & Personal Care, Consumer Electronics, Food & Beverage, Health & Wellness, and Others (Home Decor, Household Consumables, Fashion & Apparel)), and by Functionality (Product Management, Order Management, Payment Processing, Inventory Management, and Marketing and Analytics)Forecast Period (2023-2030)

The global e-commerce platform market is anticipated to grow at a CAGR of 14.2% during the forecast period (2023-2030). One of the major drivers of the marketis because of the growing adoption of omnichannel retail. Omnichannel retail is revolutionizing the shopping experience by bridging the gap between online and offline channels, creating a seamless customer journey. This strategy empowers customers to seamlessly switch between channels, whether it's browsing products online and purchasing in-store, or checking product availability in-store and making an online purchase. Omnichannel platforms enable personalized product recommendations, targeted promotions, and consistent customer service across channels. Real-time inventory visibility ensures product availability across all channels, preventing stockouts and customer frustration.

Suppose we take one of the popular fashion retailers,Zara. Zara seamlessly integrates its online and offline channels, allowing customers to browse products online and reserve them for in-store pickup, check product availability in-store using the Zara mobile app, and customers can return online purchases at any Zara store.

Segmental Outlook

The global e-commerce platform market is segmented on the deployment method, business size, industry, and functionality. Based on the deployment method, the market is sub-segmented into on-premise, cloud-based, and open-source. Based on the business size, the market is sub-segmented into small and medium-sized businesses (SMBs), and enterprise businesses. Based, on the basis of industry, the market is sub-segmented into beauty & personal care, consumer electronics, food & beverage, health & wellness, and others. Further, based on functionality the market is sub-segmented into product management, order management, payment processing, inventory management, and marketing and analytics.

The Small and Medium-Sized businesses (SMBs) Sub-Segment is Anticipated to Hold a Considerable Share of the Global E-Commerce Platform Market

Among the industry, the SMBs sub-segment is expected to hold a considerable share of the global e-commerce platform market. This is all due to a various number of reasons. SMBs are increasingly adopting e-commerce to reach a wider audience and increase their sales. This is due to the increasing popularity of online shopping, the rise of mobile commerce, and the decreasing cost of e-commerce platforms. There are a significantly larger number of SMBs than enterprise businesses. This large number of potential customers makes the SMB segment a very attractive target for e-commerce platform providers. According to the Small Business Administration, there are 33,185,550 small businesses in the United States. About 38% of small businesses use specialized software in their business operations.

Regional Outlook

The global e-commerce platform market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, North America is anticipated to hold a prominent share of the market across the globe. This is due to a number of factors, including the high level of internet penetration in North America, the strong consumer spending power, and the early adoption of e-commerce by businesses in the region. According to Forbes in 2022, in the US, digital commerce passed the $1 trillion mark in a single year for the first time.

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global E-Commerce Platform Market

Among all regions, the Asia-Pacific region is anticipated to grow at a considerable CAGR over the forecast period. The region's e-commerce infrastructure is undergoing continuous development, characterized by advancements in logistics, payment gateways, and delivery systems. These improvements have significantly enhanced the convenience and accessibility of online shopping for consumers. Additionally, the Asia-Pacific region is experiencing rapid middle-class expansion, leading to a corresponding rise in disposable incomes. This growing affluence has directly translated into a surge in consumer spending, including online purchases. Social media platforms like WeChat and Facebook have become increasingly integrated with e-commerce, giving rise to a seamless and engaging social shopping experience. This trend is particularly prominent in the Asia-Pacific region, where social media usage is exceptionally high. Cross-border e-commerce is gaining significant traction in the region, as consumers seek diverse products from around the world. This trend is facilitated by regional trade agreements and enhanced cross-border logistics capabilities. The Asia-Pacific region stands at the forefront of mobile-first technologies, boasting a vast population of mobile internet users. This has led to the development of mobile-optimized e-commerce platforms and a growing preference for shopping on mobile devices.

Market Players Outlook

The major companies serving the e-commerce platform market include Alibaba Group Holding Ltd., Amazon.com, Inc., E-Bay Inc., JD.com, Inc., Walmart Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in August 2023, Schaeffler India Limited, a subsidiary of Schaeffler AG, entered into a definitive share purchase agreement to acquire 100% of the outstanding shares of KRSV Innovative Auto Solutions Private Limited (""KRSV"") for a total consideration of a low double-digit million euros.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global e-commerce platform market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.