Digital Commerce Software Market Size (2024 - 2029)

The digital commerce software market is poised for significant expansion, driven by the increasing demand for unified commerce and the shift towards subscription-based business models. This growth is further fueled by the global expansion of cloud solutions, which offer cost-effectiveness and ease of use. The rise of the Internet of Things and smart home appliances is creating new business opportunities, enhancing the market's potential. Despite challenges such as cybersecurity and privacy concerns, the market's trajectory is positive, supported by the accelerated digital transformation during the COVID-19 pandemic.

Market Size of Digital Commerce Software Industry

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Digital Commerce Software Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 12.64 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Digital Commerce Software Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Digital Commerce Software Market Analysis

The digital commerce software market is expected to register a CAGR of 12.64% during the forecast period. The market is anticipated to witness a drastic growth rate primarily due to the increase in the need for unified commerce. Since customers nowadays use an increasing number of channels throughout both the buying and owning stages, making their entire process smooth, the market for digital commerce software will witness a severe demand throughout the forecast period.

  • As organizations move towards a subscription-based business model, sellers benefit greatly from repeatable, predictable revenue. Customers prefer features like convenience, cost savings, and personalized curation, which will create a massive demand for the market for digital commerce software. Moreover, cloud solutions are expanding globally, which plays a crucial role in propelling digital commerce growth due to its cost-effectiveness, automatic integrations, minimum IT investment, and ease of accessibility.
  • Further, with the increase in demand for the internet of things (IoT), smart home appliances can make purchases on behalf of customers. It will thus reduce the customers' efforts to make a purchase. This digital commerce trend is creating new interactive channels and business opportunities.
  • Online commerce is an indispensable vector of a merchant's strategy, and an optimized e-commerce platform translates into increased conversions and higher buying frequency. Shopify grew from a budding startup providing an additional platform for retail stores to a behemoth, servicing nearly 156,466 online stores in the United Kingdom, reflecting a growth of 218.81% and 59,590 stores in France, with an increase of 320.85% from March 2020 to January 2022. But the platform's development is most evident in Germany, where the growth rate is 480.18%, with 13,554 stores in March 2020 and 78,638 stores in January 2022. The growth is creditable to Shopify's intuitive and user-friendly operability that enables businesses to create e-commerce websites despite lacking technical knowledge and coding skills.
  • However, on the flip, cybersecurity issues and raising privacy concerns are the major restraints for the market during the forecasted period.
  • With the onset of the COVID-19 pandemic, there has been a significant shift to teleworking, creating tremendous data generation and a need for the cloud. When the pandemic hit hard and physical retail outlets closed or limited their operations, midmarket brands pivoted quickly to sell directly to consumers (D2C) and learned to interact with customers digitally-another contributor to the market's growth.

Digital Commerce Software Industry Segmentation

Digital commerce (D-commerce) is a type of e-commerce used by an organization that delivers and sells products online. D-commerce is used by companies that sell news, subscriptions, documents, or any form of electronic content. The digital commerce company collects payments, handles customer refunds and billing, and manages other accounting functions for online publisher clients.

The Digital Commerce Software Market is segmented by Deployment Model (On-Premises, Cloud-Based, Hybrid), End-User Industries (Retail, BFSI, Travel & Tourism, IT and Communications, and Entertainment & Media), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

By Deployment Model
On-Premise
Cloud-Based
Hybrid
By End-User Industries
Retail
BFSI
Travel & Tourism
IT & Communications
Entertainment & Media
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
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Digital Commerce Software Market Size Summary

The digital commerce software market is poised for significant expansion, driven by the increasing demand for unified commerce solutions. As consumers engage with multiple channels during their purchasing journey, the need for seamless integration across these platforms becomes paramount. This trend is further amplified by the shift towards subscription-based business models, which offer predictable revenue streams and cater to consumer preferences for convenience and personalization. The proliferation of cloud solutions globally is also a key factor, providing cost-effective, easily accessible, and minimally invasive IT integrations that enhance the digital commerce landscape. Additionally, the rise of IoT and smart home appliances is creating new avenues for automated purchasing, further propelling market growth.

The market is characterized by rapid technological advancements and a surge in cloud-based deployments, which have become the preferred choice for digital commerce software. These solutions not only facilitate online sales but also streamline back-end operations such as order management, logistics, and customer relationship management. The Asia Pacific region, in particular, is witnessing explosive growth due to increased smartphone penetration and high-speed internet connectivity, which have democratized access to digital marketplaces. Key players in the market are engaging in strategic mergers, acquisitions, and partnerships to enhance their offerings and expand their reach. Despite the competitive landscape, challenges such as cybersecurity and privacy concerns remain significant hurdles.

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Digital Commerce Software Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Deployment Model

      1. 2.1.1 On-Premise

      2. 2.1.2 Cloud-Based

      3. 2.1.3 Hybrid

    2. 2.2 By End-User Industries

      1. 2.2.1 Retail

      2. 2.2.2 BFSI

      3. 2.2.3 Travel & Tourism

      4. 2.2.4 IT & Communications

      5. 2.2.5 Entertainment & Media

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

        2. 2.3.2.2 Germany

        3. 2.3.2.3 France

        4. 2.3.2.4 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Rest of Asia-Pacific

      4. 2.3.4 Rest of the World

Digital Commerce Software Market Size FAQs

The Digital Commerce Software Market is projected to register a CAGR of 12.64% during the forecast period (2024-2029)

HCL Technologies Limited, Oracle Corporation, Digital River Inc, Sappi Limited and Salesforce Inc are the major companies operating in the Digital Commerce Software Market.

Digital Commerce Software Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)