III. Industry Analysis

The global e-commerce software market reached a value of $6.2 billion in 2019 and is predicted to grow at a CAGR of 16.3% from 2020 to 2027¹. E-commerce software streamlines complicated processes and assists businesses in efficiently managing inventory, tax calculations, and other related business functions. The adoption of online platforms reduces extra expenses, and the convenience of online businesses is expected to sustain market growth from 2020 to 2027. Online shopping has been experiencing steady growth for several years, and this trend is expected to continue as more businesses shift to online sales, driving the demand for e-commerce CMS platforms. The rise of mobile commerce has also contributed to the growth of e-commerce CMS platforms.  

Global retail e-commerce sales reached around $5.2 trillion in 2021 and is expected to increase by 56% in the coming years, reaching an estimated $8.1 trillion by 2026². The demand for e-commerce has been increasing rapidly in recent times, and the COVID-19 pandemic has further expedited this trend. Consumers are opting for online shopping due to its convenience, cost-effectiveness, and safety benefits. The e-commerce software market is expected to experience high demand from 2020 to 2027 due to the growing number of e-tailers. E-tailers conduct their business through online platforms and do not require a physical store, which increases their reliance on e-commerce platforms compared to other retailers. The e-commerce software market is seeing an increased focus from both small businesses and e-commerce companies. This is because they realize the importance of adopting advanced solutions that can help them manage their operations and processes more efficiently.  

1. https://www.grandviewresearch.com/industry-analysis/e-commerce-software-market
2.https://www.statista.com/statistics/379046/worldwide-retail-e-commerce-sales/