E-commerce Software and Platform Market: Present Scenario and the Growth Prospects with Forecast 2028

E-commerce Software and Platform Market: Present Scenario and the Growth Prospects with Forecast 2028

High Customer Inclination toward Using Online Channels to Boost Sales of E-commerce Software and Platform

Pervasiveness of e-commerce has transformed the retail sector by introducing online platforms for purchasing commodities and goods. Retailers have witnessed increased inclination of customers toward online purchasing on the back of high convenience and cost effectiveness of online platforms. This aspect has triggered retailers to adopt e-commerce software and platform to enhance customer shopping experience and increase their visibility to reach remote customers to increase sales of their products and services. Moreover, e-commerce software and platform provides seamless customer experience by linking mobile, offline and online shopping channels. E-commerce software and platforms enable delivery of all services and products of the retailer on a single platform, in turn increasing the convenience quotient for customers. This factor is likely to fuel the adoption of e-commerce software and platform in the forthcoming years.

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Integration of Data analytics with E-commerce Pave new Growth Opportunities

Robust growth of Big Data analytics has resulted in paradigm shift in the e-commerce industry. Data is now looked upon not as a bi-product of a business, but considered as a vital asset offering insights on customer behavior in terms of purchasing patterns, frequency and choice. It is now used as an important performance measure of a business that can be leveraged to enhance business activities and profits. In a bid to simplify complexities associated with Big Data analytics, providers of e-commerce software are integrating AI and data analytics with e-commerce software and platform.

This integration has enabled enhanced customer traffic, in turn facilitating high revenue generation and improved sales. Moreover, e-commerce software and platform also provides analysis on customer satisfaction than can be used by retailers to explore new opportunities and increase profitability. Big Data analytics integration with e-commerce has significantly propelled the demand for e-commerce software and platform, in turn favoring their market’s growth during the period of forecast, 2018-2028.

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SaaS Based Deployment to Gain High Traction than On-Premise Deployment

On-going technological advancements have raised the competitiveness of the retail market as increasing number of retailers are focusing on leveraging online platforms to capture new customer segments. A paradigm shift from on-premise deployment toward adoption of cloud-based deployment has resulted in vendors offering XaaS (Everything as a Service) that includes SaaS (Software as a Service), PaaS (Platform as a Service) and IaaS (Infrastructure as a Service).

In a bid to retain customer loyalty, players are focused on using cloud based platforms such as SaaS as an effective deployment model for e-commerce software and platform. Moreover, vendors of e-commerce software and platform are focused on offering customized platform based on critical requirements of customers, which has led to the adoption of new methodology that can facilitate tapping a wider marketplace in order to enhance customer base. Against this backdrop, deployment of e-commerce software and platform through SaaS has gained significant traction since the past few years and is likely to retain its status quo in the years to follow.

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Huge Data Volume and Internet Traffic to pose Challenges

Scalability and flexibility of the e-commerce software and platform is largely impacted by the network infrastructure and the ability to handle increased traffic and rising demand for bandwidth. Increasing traffic is likely to result in software failure, which is expected to confine the growth of the e-commerce software and platform market. However, vendors of e-commerce software and platform are focused on enhancing network infrastructure to overcome this challenge.

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