The Global Digital Commerce Software Market is estimated to be worth $4 billion in 2015 and is projected to reach to $8.68 billion by 2020 at a CAGR of 16.73%. North America is the dominating the worldwide market with a share of 36.10% in 2015, followed by Asia Pacific and European regions.
A new report “Global Digital Commerce Software Market – By Industry, Geography and Vendors- Market Shares, Forecasts and Trends(2015 – 2020)” by Mordor Intelligence also says digital commerce software continues to be one of the fastest growing vertical in the overall enterprise applications software market. Organizations can now generate revenue through a multitude of digital channels incorporating mobile commerce and mobile payments, social commerce through social media platforms such as Facebook, and even local commerce utilizing GPS technology to deliver personalized deals to consumers based on their location.
The growth in the Internet of Things (IoT), increasing adoption of Cloud Based Services and new development in wireline and wireless communications networks is providing impetus to the Digital Commerce Software market. The major challenges faced by the business with Digital Commerce Software is the integration of the software with the existing legacy systems, such as SAP and other CRM systems, especially with the additional ad hoc software that have been added over the years in order to facilitate the current needs of the organizations.
Asia Pacific is showing a highest growth with a CAGR of 18.60% over the forecast period. The top contribution in driving the growth for digital commerce market is gained from the US, Japan, China, UK and Germany. Cloud deployment for digital commerce software is estimated to account for 49.85% in 2015 and is projected to increase to 68.12% of the worldwide market by the end of 2020.
The Global Digital Commerce Software Market is segmented on the basis of Component (Software, Services), Deployment (On-Premise, Cloud, Hybrid), Region (North America, Europe, Asia Pacific, Rest of World) with further country wise segmentation. The market is also segmented on the basis of Industry Verticals such as Retail, Financial Services, Travel and Tourism, Communications, Entertainment &Media and other industries. Retail Industry is leading in Global Digital Commerce Software Market with a projected market of $2.88 billion by the end of 2020.
Digital Commerce Software Market
2015: US$: 4.0 billion
2016: US$: 4.6 billion
2017: US$: 5.4 billion
2018: US$: 6.3 billion
2019: US$ 7.4 billion
2020: US$: 8.7 billion
Source: Mordor Intelligence
For data, background and forecasts on the Digital Commerce Software Market: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).