Retail E-Commerce Software Market Growth and Trends: Forecasting USD 4.17 Billion Increase from 2024 to 2028

Market Segmentation

1. Application Segmentation

• Apparel and Accessories: This segment is expected to experience robust growth, driven by the increasing popularity of online shopping. E-commerce software solutions tailored to apparel and accessories businesses help streamline inventory management, order processing, and customer relationships, facilitating a seamless online shopping experience. Shopify, a leader in the space, offers customizable tools for retailers to create visually appealing and user-friendly websites.
• Grocery
• Footwear
• Personal and Beauty Care
• Others

2. Product Segmentation

• Cloud-based: Cloud-based retail e-commerce solutions offer cost-efficiency and scalability, with many businesses adopting Software-as-a-Service (SaaS) models to manage their online stores. This product category eliminates the need for in-house IT infrastructure and is expected to drive significant market growth.
• On-premises

Regional Market

1. Asia-Pacific (APAC)

• China and India are leading contributors in the APAC region. With significant economic growth, rising internet penetration, and increasing demand for online retail solutions, the APAC market is set to contribute 39% of the global market growth during the forecast period. Additionally, manufacturers in the region are increasingly adopting retail e-commerce software for improved operational efficiency.

2. North America

• United States and Canada are major players in the North American market. The region has seen substantial growth in retail e-commerce, spurred by the demand for streamlined solutions that manage large-scale online operations.

3. Europe

• Key players in the region include Germany, France, and the UK, with a growing emphasis on cross-border retail and the implementation of sophisticated e-commerce platforms.

4. South America

• Brazil and Chile are experiencing growth, driven by the increasing popularity of online shopping and the need for businesses to improve their digital storefronts.

5. Middle East and Africa (MEA)

• Countries like Saudi Arabia and South Africa are gradually adopting retail e-commerce software, contributing to growth in the region.

Market Dynamics

Key Growth Drivers

• International Retailing: The increase in cross-border retailing is a key factor driving the growth of retail e-commerce software. Retailers are leveraging these platforms to expand globally, offering products and services across borders.
• Social Media and E-Commerce: The integration of social media platforms like Facebook and Instagram has played a pivotal role in increasing the number of social shoppers. Retailers are now connecting their online storefronts to social media platforms, enabling consumers to make purchases directly.

Market Restraints

• Threat from Open-Source Software: Open-source retail e-commerce solutions, which are free to download and use, pose a challenge to the growth of paid retail e-commerce software, especially in developing markets like India and China. These solutions are more affordable and flexible, appealing to small-scale retailers.

Recent Developments

• March 2023: Adobe Inc. launched an update to its Adobe Commerce platform, offering enhanced AI-driven features to improve the personalization of B2B and B2C e-commerce experiences.
• December 2023: BigCommerce Holdings Inc. introduced advanced SaaS tools aimed at simplifying the integration of e-commerce systems for enterprise-level businesses, making it easier to customize e-commerce platforms.

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Key Companies in the Retail E-Commerce Software Market

Some of the key companies of the Retail E-Commerce Software Market are as follows:

• Adobe Inc.
• BigCommerce Holdings Inc.
• ClearCourse Partnership LLP
• HCL Technologies Ltd.
• International Business Machines Corp.
• IPIX
• Maplebear Inc.
• Optimizely Inc.
• Oracle Corp.
• Panasonic Holdings Corp.
• Pitney Bowes Inc.
• PrestaShop SA
• Salesforce Inc.
• SAP SE
• Shopify Inc.
• Solution Microsystems Pvt Ltd.
• Squarespace Inc.
• Wix.com Inc.
• Zoho Corp. Pvt. Ltd.
• cleverbridge AG
• CloudCart AD
• Mirakl
• OpenCart
• osCommerce
• Sitecore

Recent Developments

• March 2023: Adobe Inc. launched an update to its Adobe Commerce platform, offering enhanced AI-driven features to improve the personalization of B2B and B2C e-commerce experiences.
• December 2023: BigCommerce Holdings Inc. introduced advanced SaaS tools aimed at simplifying the integration of e-commerce systems for enterprise-level businesses, making it easier to customize e-commerce platforms.