E-commerce platforms help businesses in handling the online store processes, right from their inventory, to adding or eliminating products, to calculating taxes and fulfilling orders in the best possible way.
Expected Revenue Surge:
The e-commerce platform market has an estimated value of around 5.6 billion U.S. dollars in 2020 and is estimated to grow to approximately 6.7 billion U.S. dollars by 2023. With the fast growth of e-commerce sales, international retail e-commerce sales are predicted to reach 6.6 trillion U.S. dollars by 2023.
High spending capacity combined with an increase in spending on apparel is expected to upsurge the growth of the global eCommerce platform market over the next few years. Furthermore, the eCommerce industry has grown unusually well in the earlier years and is expected to witness exponential growth in the upcoming years.
Get the Global Overview of the Market:
The market is categorized in five major regions that include North America, Asia Pacific, Europe, Middle East & Africa and Latin America regions. Amongst these regions, Asia Pacific is likely to lead the overall ecommerce platform market over the next few years. Increasing number of business formations is providing the best opportunities for the e-commerce platform service providers.
Based on type of platform, the market is classified into, commerce, order management, business intelligence, shipping and others, amongst which, commerce is accounted for the biggest market share in complete worldwide ecommerce platform market.
# In October 2019, Shopmatic which is the best e-commerce platforms acquired Combinesell to enhance automation and simplify the selling processes.
# In September 2019, Shopify a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses acquired 6 River Systems to redefine fulfilment automation for e-commerce and retail operations.
360quadrants Releases Quadrant On Best E-Commerce Platforms@
# In March 2019, Shopmatic which is an e-commerce platform acquired Octopus Retail Management to help retailers synchronise inventory, on-board customers through mobile platform.
# In November 2018, Shopify acquired Tictall which is a global community to discover the world’s independent brands.
# In June 2018, Shopify acquired Return Magic which allows merchants to build loyalty while making shopping more convenient for consumers.