E-Commerce or electronic commerce technology includes the software and services that facilitate online transactions. The e-commerce sector has grown to encompass not just basic shopping and online catalogues but a wide variety of functionalities. Some of the services include maintenance & support, consulting & training, compliance & security, and online advertising & marketing. Such solutions provide a consistent shopping experience across channels to buyers.
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The global e-commerce technology market is foreseen to grow at a CAGR of 20% from 2013 to 2018 (forecast period). This may be attributed to the internet revolution and widespread smart phone penetration all over the globe.
Several businesses now offer products and services on the web. Companies understand that it is imperative to have a digital presence in the form of various platforms such as social networking sites, mobile applications, company websites, etc. Many retailers adopt an omni-channel distribution strategy which combines online and offline (brick-and-mortar stores) presence. E-Commerce is also preferred by most B2B (Business-to-Business) players.
There has been a sharp increase in the ways to reach consumers online. This is having a favorable effect on market growth. However, issues revolving around privacy and security could inhibit demand. Cyber crime, frauds, and scams will need to be effectively dealt with for the market to reach its potential.
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Key geographical segments in the global e-commerce technology market include Europe, APAC (Asia-Pacific), Americas (North, South, & Central America), and MEA (the Middle East & Africa). The U.S. market spend is projected to grow to over 1.9 billion in the e-commerce technology space by 2018. APAC should exhibit rapid growth in the near future.
Prominent players in the worldwide e-commerce technology industry are IBM Corporation, hybris AG, Oracle Corporation, eBay Inc., and Demandware Inc. Other reputed vendors comprise Insite Software Solutions Inc., SAP AG, Digital River Inc., NetSuite Inc., Volusion Inc., MICROS Systems Inc., JDA Software Group Inc., and Intershop Communications AG.
Consolidation is observed to be a key industry trend. Mergers & acquisitions are commonly followed as a route to ensuring competitiveness. Venture capitalists and private equity players are also making huge investments in the e-commerce technology space, creating novel growth opportunities. Participants focus on attaining technological expertise to achieve success.
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Table of Contents
1. Executive Summary
2. List of Abbreviations
3. Scope of the Report
3.1 Market Overview
3.2 Product Offerings
4. Market Research Methodology
4.1 Market Research Process
4.2 Research Methodology
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