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Proliferation of e-commerce has prevailed since the past couple of years transforming the online retailing sector worldwide. Growing e-commerce platforms coupled with increasing inclination of customer toward using online retail channels continue to influence the growth of the e-commerce software and platform market. User-friendliness and affordability of e-commerce software are expected to fuel the demand for e-commerce software and platform across a cohort of industries. With significant growth in the e-commerce sector, stakeholders involved in the e-commerce software and platform can expect momentous growth in the coming years that is largely influenced by several macroeconomic and industry- related factors.
Fact.MR foresees that the demand for e-commerce software and platform is projected to expand at a CAGR of 12.5% in terms of value during the period of assessment, 2018-2028. Moreover, the report estimates that the sales of e-commerce software and platform are likely to surpass US$ 13,000 Mn by end of the year of assessment.
European countries are also anticipated to portray high demand for e-commerce software and platform. The sales of e-commerce software and platform in this region are largely attributed to high popularity of voice activate devices and voice based search. North America is also expected to significantly contribute to the overall growth of the e-commerce software and platform market, says the report. Demand for e-commerce software and platform in North America is projected to grow at a noteworthy pace during the assessment period on the back of integration of Chabot with the e-commerce platform. Overall the growth prospects for the e-commerce software and platform are likely to remain strong, translating into a promising future for vendors in the coming years.
SaaS Based Deployment to Gain High Traction than On-Premise Deployment
On-going technological advancements have raised the competitiveness of the retail market as increasing number of retailers are focusing on leveraging online platforms to capture new customer segments. A paradigm shift from on-premise deployment toward adoption of cloud-based deployment has resulted in vendors offering XaaS (Everything as a Service) that includes SaaS (Software as a Service), PaaS (Platform as a Service) and IaaS (Infrastructure as a Service). In a bid to retain customer loyalty, players are focused on using cloud based platforms such as SaaS as an effective deployment model for e-commerce software and platform.
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