Surge in preference toward buying products through e-commerce platforms is expected to drive the expansion opportunities in the global e-commerce technology market during the forecast period 2021 to 2031.
An upcoming research report by Transparency Market Research gives 360-degree analysis of major factors influencing growth of the global e-commerce technology market. Thus, many crucial facets such as drivers, restraints, trends, challenges, and R&D activities in the market are presented in this report in a comprehensive manner. The assessment document also delivers dependable data on production, sales, shares, volume, and revenues of the market for e-commerce technology.
The study performs segmentation of the global e-commerce technology market based on many important parameters such as application and region. In terms of application, the market for e-commerce technology is divided into two parts, namely, B2C and B2B.
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Key Drivers of e-Commerce Technology Market Growth
The e-commerce technology is gathering impetus in recent years owing to its ability to connect sellers with their customers through varied online mediums such as mobile as well as website platforms. There is surge in the adoption of this technology owing to a wide range of advantages it offers, such as efficient management of customer orders, payments returns, and deliveries of purchased goods.
The increased use of smartphones and surge in accessibility to Internet are some of the prime factors that will positively impact on the overall development of the market for e-commerce technologies in the years to come.
With the emergence of COVID-19 pandemic, major populace from all across the globe is increasing inclination toward buying essential as well as non-essential products through online platforms. This factor is working as one of the key drivers of the global e-commerce technology market.
Major retail companies from all across the globe are growing focus on boosting their e-commerce sales. As a result, there is surge in demand for e-commerce technologies among these organizations. This factor is helping in expansion of the global e-commerce technology market in the years to come.
Competition Landscape of e-Commerce Technology Market
The global e-commerce technology market seems to be moderately fragmented in nature. Presence of several well-entrenched players highlights that the competitive landscape of the market for e-commerce technology is highly intense. Major leaders are executing diverse strategic moves in order to maintain their prominent position in the global market.
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Mergers, acquisitions, joint ventures, partnerships, and collaborations are some of the key strategies utilized by enterprises from the global e-commerce technology market. Moreover, several companies are increasing investments in the R&D activities. These activities are expected to help players in expanding their businesses in the market for e-commerce technology.
The list of key players in the global e-commerce technology market includes:
- BigCommerce Holdings Inc.
- Adobe Inc.
- HCL Technologies Ltd.
- commercetools GmbH
- Oracle Corp.
- Open Text Corp.
- Salesforce.com Inc.
- Pitney Bowes Inc.
- Shopify Inc
- SAP SE
North America Demand Outlook for e-Commerce Technology
In terms of region, the global e-commerce technology market shows existence in many regions including APAC, North America, South America, MEA, and Europe. Of all geographical regions, North America is one of the lucrative regions of the market for e-commerce technology.
The North America e-commerce technology market is projected to attract exceptional growth prospects on the back of many factors including early adoption of advanced technologies in the region.