Digital Commerce Platform Market

Cloud Computing a Boon for Global Digital Commerce Platform Market
Owing to the enormous application possibilities with the merger of consumer electronics and the
internet, an increasing number of companies are venturing into the digital commerce platform market,
and several of them will follow the suit in the near future, making the competitive landscape further
fragmented. That being said, a few companies such as Hybris AG, IBM Corporation, and Oracle
Corporation do hold a position of strength and continuously expand into potential regions to eat into
the shares of smaller domestic players who have limited to no presence their core region.
A fresh business and commerce study by Transparency Market Research (TMR) has projected that the
demand in the global digital commerce platform will increment at a robust CAGR of 14.8% during the
forecast period of 2016 to 2024. As per the evaluations of the TMR report, the opportunities in
the digital commerce platform market, across the world, were worth US$4.44 bn in 2015, and estimates
it to swell up to US$15.30 bn by the end of 2024. In the near future, the leaders of this market are
expected to dwell into cloud-based digital platforms and software-as-a-service models in order to
maintain their stronghold over the market.
Based on the model of business, the report segments the global digital commerce platform market into
business to business (B2B), business to consumer (B2C), consumer to business (C2B), and consumer to
consumer (C2C). The segment of business to consumer accounted for a whopping 68.5% of the total
demand and is expected to maintain its top position, although the segments of business to business and
consumer to consumer are also projected to for healthy growth. Based on end-users, the market for
digital commerce platform has been bifurcated into banking, financial service and insurance (BFSI),
retail, IT and Telecommunication, and airline and travel. The report also categorizes this market on the
basis of deployment model, into on-premise, software as a service (SaaS), open source, and fully
managed.
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Geographically, the report highlights North America as the most lucrative region by a long margin, which
is a reflection of strong adoptability rate of new technology in the developed country of the U.S. A
massive existing base of digital media users in the country has been powered by the ubiquity of
smartphones and broadband internet services. The North America digital commerce platform market is
projected to exhibit a CAGR of 13.7% during the forecast period of 2016 to 2024.
The advent and rapid rise of cloud computing has been a boon for the market for digital commerce
platform. With cloud platform, companies operating in ecommerce have found a whole new avenue of
revenue by selling to consumers without investing on retail outlets. Organized website portals can
engage, entice, and translate a lead into sale and a flooding number of manufacturers are now
transforming their business to gain benefit from digital commerce platforms. Growing dependency on
smartphones and integrated devices, increasing disposable income among the urban populations in
emerging economies, and growing awareness among the end-users are some of the other factors that
will aid to the prosperity of the global digital commerce platform market. On the other hand, the market
is still in nascent stage and unless aggressive market strategies are employed, retailers are expected to
remain reluctant owing to the lack of governance structure.

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