E-commerce Software and Platforms Market to Undertake Steady Growth During 2019-25

07/31/2020 10:43 AM

The global ecommerce software and platform market is expected to expand at a strong CAGR pace over the forecast period extending up to 2025. As we analyze reports over the years as well as the present global scenario, it is seen that the ecommerce sector has been able to achieve tremendous growth especially as a result of the development of ecommerce software and ecommerce platforms. And it is believed that this growth rate is a trend that is here to stay. Let us take a look at some of the factors responsible for this optimistic prediction::

  • Expansion through digitalization is the need of the hour:

    Any business requires itself to expand and diversify itself in order to remain successful and therefore one of the most crucial steps in this sense would be to have its presence noticed in the digital world or the online space. Establishing and maintaining an online identity, in the form of a website, has become a quintessential factor for businesses to thrive and therefore there is a high demand for ecommerce website builders. There are innumerable start ups and businesses coming up all the time, thanks to supportive measures by the government, and all of these upcoming enterprises are keen on investing in the best ecommerce platforms and ecommerce software. And when it comes to their search for ecommerce website builders, quality as well as affordability is the key factor. Quite recently mobile compatibility of websites has also gained prominence as a much sought after feature.

  • Customer preference for online shopping to result in increased sales of ecommerce software and platform:

    It is observed that customers are getting all the more comfortable with the online experience of shopping. Considering this aspect of customer behavior, retailers are ready to adopt and engage through ecommerce software and platform in order to cater to the customer demands and also to elevate sales and profits. Ideally, the usage of ecommerce software and ecommerce platform are capable of ensuring easy accessibility and a hassle free shopping experience to customers.

  • Data security and the rise of cybercrimes :

    As technology advances, it also poses certain challenges and therefore ecommerce security is an aspect that has gained importance over the years and will continue to be of importance. Data leaks of confidential matters can negatively impact the confidence of customers. Therefore retailers are looking out for the best ecommerce platforms that can handle these challenges.

  • Surveys reveal B2B firms to spend more on ecommerce technology than online retailers:

    According to Research Gate, by 2021, over 2.14 billion people will be buying goods and services online and it is expected to keep growing. Apparently firms and businesses have realised how investing in ecommerce platform and software can increase their visibility to reach remote customers and to also boost sales of their products and services.

Ecommerce contains within it the potential to reach out to an unlimited audience if channeled through the right ecommerce platforms such as Oorjit. Over the years, ecommerce has managed to seep deep into the lives of consumers as one can observe from the various survey data given below:

  • In 2019, 14.1% of global retail sales were made online.

  • By 2022, ecommerce revenue in the U.S, alone is expected to reach $638 million

  • The Indian e-commerce market is expected to grow to US$ 200 billion by 2025.

These facts and figures simply mean that there are vast opportunities waiting for brands to seize and utilize and therefore it is high time they looked at launching an ecommerce website and invested in the right ecommerce software and platform to expand their reach.