LONDON--(BUSINESS WIRE)--Technavio estimates the global retail e-commerce software market is expected to grow by USD 3.38 billion, progressing at a CAGR of over 12% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
The market is driven by the rise in international retailing. However, the threat from open-source software might challenge growth.
Retail E-Commerce Software Market: Deployment Landscape
Based on the deployment, the market saw maximum growth in the cloud-based deployment segment in 2019. The segment is mainly driven by the cost-effectiveness of cloud-based solutions that eliminate the need for setting up hardware at office premises. The market growth in the segment will be significant over the forecast period.
Retail E-Commerce Software Market: Geography Landscape
34% of the market’s growth originated from North America in 2019. Factors such as increasing purchases from online retail stores and the presence of many major retail e-commerce software vendors are fueling the growth of the retail e-commerce software market in North America.
The US is a key market for retail e-commerce software in North America. Market growth in this region will be slower than the growth of the market in other regions.
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Major Three Retail E-Commerce Software Market Vendors:
Adobe Inc. operates its business through segments such as Digital Media, Digital Experience, and Publishing. The company offers Magento Commerce. The software offers numerous out-of-the-box features, the ability to customize, and seamless third-party integrations.
Blue Yonder Group Inc.
Blue Yonder Group Inc. operates its business through segments such as Luminate planning, Luminate retail, and Luminate logistics. The company offers retail e-commerce software equipped with technologies such as SaaS, IoT, artificial intelligence, and machine learning.
Episerver Inc. operates its business through the Unified segment. The company offers cloud-based software specifically built for the management of e-commerce, content, merchandising, and marketing.
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Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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