Market Overview

Digital commerce platform or also referred to as e-commerce platform is used for selling and buying of goods and services over mobile networks, internet, and commerce infrastructure. Digital commerce platform allows merchants to host and build a digital storefront related to a specific set of services or products. It involves ordering digital content for its immediate online consumption. A wide range of digital products can be sold through digital commerce platforms, which includes business to business (B2B) software namely Google G Suite and Microsoft Office 365, products developed for Salesforce.com, consumer apps, etc. Growing proliferation of new digital technologies and connected devices has increased the adoption of digital commerce platforms in the recent past.



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The global digital commerce platform market is estimated to account for US$ 7,542.8 Mn in 2019 is expected to exhibit a CAGR of 15.1% during the forecast period



Market Dynamics- Drivers



Increasing demand for digital commerce is expected to drive growth of the global digital commerce platform market during the forecast period

Increasing demand for digital commerce has prompted enterprises to invest in new digital business designs, in order to enhance customer experience. Companies are exploiting benefits of social media platforms, in order to gather more information about customers and serve them better by understanding the customer satisfiers and dissatisfiers. Digital commerce has transformed customer experience in terms of accessibility and visibility. Moreover, organizations are transforming internal processes such as ERP which has transformed the way organizations were handling various transactional, supply chain and financial processes. Increasing number of smartphones, tablets, and broadband connections is expected to support growth of the global digital commerce platform market in the near future. For instance, according to the GSM association in 2015, it is estimated that there are approximately 2 billion smartphone users in the market. In emerging countries such as India online sales are primarily driven by the growing adoption of a portable device.

Steadily increasing demand for cloud services is expected to propel the global digital commerce platform market growth over the forecast period

Over the years, cloud computing evolved immensely, which now brings significant savings by lowering the opportunity cost of in-operation technology. As a result of this, a vast number of vendors have started to offer cloud services to customers. In recent years, industries like e-mail marketing service providers (iContact, Mailchimp), CRM (salesforce.com), support (Zendesk) and customer engagement (Hybris, Marketo) have almost completely moved to the cloud as large businesses are profiting from this trend. Furthermore, cloud services have emerged as a leading technology with the development of hybrid cloud. Hybrid cloud is a cloud computing environment that is a mix of private cloud, on premise, and public cloud services. Therefore, increasing demand for cloud services is expected to drive the market growth over the forecast period.

Asia-Pacific region of the the digital commerce platform market in 2019, accounting for 16.7 % share in terms of value.



Market Opportunities



Growing demand for universal purchasing platform to present lucrative growth opportunities

There is a constant demand for a unified platform where consumers can search, buy, share experiences and be rewarded. The digital commerce platform fulfills all those requirements of the consumer. Furthermore, digital technologies are focused on bridging the existing gaps in the consumer’s purchase journey. These technologies provide consumers a seamless shopping experience they are looking for. With the flexibility to choose delivery from various offline and online commerce routes and to make the ultimate purchase, consumers are finding the purchase process simplified. It is attracting new consumers to online shopping portals.

Increasing focus on customer experience management to pose major growth opportunities

The touch points are where customers get in contact with the seller, which directly or indirectly contributes to customer experience. From customer’s point of view, the buying experience is equally crucial as contact points after the purchase. Conventional ways of working B2B sales results in sales force inefficiency and incompetent levels of customer satisfaction. Business to consumer (B2C) organizations also need to modify its customer experience to meet evolving buying preferences of customers.



Market Trends



Digital commerce personalization tool

Currently, majority of organizations are laying emphasis on customer satisfaction, which is about fulfilling and creating new and individualized experiences. There are three major strategic trends that describe the current digital customer, self-service, co-creation, and personalization. Considering these trends, Infosys digital commerce offers end-to-end capabilities that disintermediate channels, warehousing, inventory, merchandising and transaction processing. Furthermore, Episerver’s intelligent personalization platform offers a full suite of digital commerce personalization tools which includes automatic behavioral alerts, product recommendations for email & web, behavioral ranking and actions that increase conversions and average order value.

Integration of digital commerce platform with other technologies

An integrated digital platform interacts with other related systems such as enterprise resource planning (ERP), logistics and order fulfillment systems. This platform was created to cater to all the requirements in one platform. Furthermore, functionalities such as newsletters and marketing strategies were considered to be outside the purview of the platform. However, integrating it with other technologies has incorporated these systems into the digital commerce platforms.



Key features of the study:



This report provides an in-depth analysis of the global digital commerce platform market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
It profiles leading players in the global digital commerce platform market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
The global digital commerce platform market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global digital commerce platform market.
Detailed Segmentation:
Global Digital Commerce Platform Market, By Business Model


Detailed Segmentation:

Global Digital Commerce Platform Market, By Business Model

Business to Consumer (B2C)
Business to Business (B2B)
Consumer to Business (C2B)
Consumer to Consumer (C2C)
Global Digital Commerce Platform Market, By Deployment Model

On-premise
Software as a Service
Fully Managed
Global Digital Commerce Platform Market ,By Verticals

BFSI
Retail
Communication
Airline + Travel
Others


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Competitive Section

Key players operating in the global digital commerce platform market are Magento, Inc., Elastic Path Software Inc., IBM Corporation, NetSuite Inc., Oracle Corporation, Apttus Corporation, Adobe, Inc., Hybris AG, CloudCraze Software LLC, Demandware, Inc., Salesforce.com, Inc., and Digital River, Inc.



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