E-COMMERCE TOOLS MARKET REPORT OVERVIEW
-
Request a Free Sample to learn more about this report
The global e-commerce tools market size expanded rapidly in 2021 and the market is projected to grow substantially by 2031, exhibiting a prodigious CAGR during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the e-commerce tools market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.
E-commerce tools are software or platforms designed to facilitate online transactions between businesses and consumers. These tools are used to create and manage online stores, process payments, manage inventory, track shipments, customers’ data, inquiries, and more.
The market is predicted to expand at a substantial growth rate in the upcoming years due to the rising popularity of online shopping, and the increasing number of e-commerce companies that demand tools to improve their website function. Also, the growing number of online customers is anticipated to aid the demand for the service which is credited to boost the growth of the market with a significant CAGR during the forecast. Additionally, in terms of service type, the cloud-based tool is the largest segment in the market. On the other hand, commercial use is the biggest application which is attributed to the demand for e-commerce tools.
COVID-19 Impact: Pandemic Restrictions Generate Opportunities for E-Commerce Industry
The COVID-19 pandemic has impacted the e-commerce market positively. The unprecedented lockdown restriction has generated opportunities for online businesses. The pandemic has increased the number of online customers which benefited e-commerce companies. Therefore, more and more companies started online businesses that required some tools to improve websites or apps for better customer experience. Also, digital payment facilities fuel the demand for online shopping. Resulted, the e-commerce tool market gained traction, boomed during the pandemic, and it will continue to grow in the future as well.
Latest Trends
"Growing Trend of AI and ML in the E-commerce Sector to broad Market Scope"
The trend of online shopping is gaining traction all over the world which opens the door for new companies to expand their business over the internet. Further, the adoption of technology especially, in the e-commerce industry augments the demand for such tools to enhance the functionality of the website. For instance, advanced technology including artificial intelligence, machine learning, and blockchain is being integrated into e-commerce platforms to provide enhanced features and capabilities which will contribute to the growth of the market in the near future.
E-COMMERCE TOOLS MARKET SEGMENTATION
-
Request a Free Sample to learn more about this report
- By Type Analysis
According to type, the market can be bifurcated into On-premise and Cloud-based
- By Application Analysis
Based on application, the market can be divided into Household Use, Commercial Use, and Other.
Driving Factors
"Increasing Online Shopping Platforms Require E-commerce Tools to Improve Market Growth"
The e-commerce tools market is witnessing significant growth due to the increasing number of online shopping platforms with which more businesses are availing online platforms. Also, the shift towards digitalization accelerates the demand for e-commerce tools by e-commerce companies which are driving market growth in the coming years. Nevertheless, with advancements in technology and increased consumer awareness, the e-commerce tools market is expected to gain steady growth over the coming years.
"Growing Emergence of M-Commerce Upsurges the Demand for Tools"
Besides, the market is also driven by the emergence of M-commerce. Mobile commerce or m-commerce is growing rapidly, and more and more consumers shopping using their smartphones and tablets. Consequently, e-commerce tools are adapting to this trend by providing mobile-friendly websites and apps that enable businesses to reach their customers on the go. Such factors are anticipated to augment the e-commerce tools market growth.
Restraining Factors
"Market Can be Hindered by the High Cost of Implementation and Customers’ Concerns "
Although the market is one of the fastest growing, some restraining factors can limit its growth of the market. Such factors include the high cost of implementation and customers’ concerns related to confidential financial detail information that need to be addressed in order to maximize the potential of this market during the projection timeframe.
E-COMMERCE TOOLS MARKET REGIONAL INSIGHTS
-
Request a Free Sample to learn more about this report
"Asia Pacific is Dominating the Region with a Large Population and a High Mobile Penetration Rate "
According to the research, in terms of revenue, the Asia-Pacific region is considered to be the leading region in the e-commerce tool market in terms of growth potential. As the Asia Pacific region has a large population and a rapidly growing disposable income, which is driving the demand for online shopping. Additionally, the region has a high mobile penetration rate, which has led to the rise of mobile e-commerce (m-commerce).
According to a report, the e-commerce market in the region is expected to grow at double % of CAGR from 2024 to 2031. Particularly, China is currently the largest market in the region. In terms of revenue, around one-fifth of the e-commerce tools market shares are owned by Asia pacific. India and Japan also contribute to a significant growth rate. Overall, the growing demand for e- commerce services is going to stimulate the extension of the market globally.
Key Industry Players
"Key Companies Offer a Range of E-Commerce Tools to Improve Customer Service"
The e-commerce tools market is highly competitive, and new players are emerging all the time. On the other hand, the prominent key players always try to improve their service. The top companies offer a range of e-commerce tools and services, such as website builders, payment processing, shopping carts, inventory management, shipping and fulfillment, and more. Moreover, some of the key players including Constant Contact, HCL Technologies, Prisync, Easyship, Swiftype, Wingify Software, Tagalys, Cedcommerce, Dicentral, Knowband Store, AfterShip, SmartRIA, Vue Storefront, GB Group, Beeketing and others lead the market in terms of profit revenue. Each of these companies has its own unique features and pricing plans, catering to different types of businesses and customers. Therefore, the market is anticipated to grow throughout the forecast period.
List of Market Players Profiled
- Constant Contact
- HCL Technologies
- Prisync
- Easyship
- Swiftype
- Wingify Software
- Tagalys
- Cedcommerce
- Dicentral
- Knowband Store
- AfterShip
- SmartRIA
- Vue Storefront
- GB Group
- Beeketing
- Liana Technologies
- Outgrow
Report Coverage
This report defines the e-commerce tools market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.
Frequently Asked Questions
-
What are the key driving factors of the global E-commerce tools market?
The increasing number of online shopping platforms, growing advanced technologies, and the shift towards digitalization are the driving factors of the E-commerce tools market.
-
What is the leading region in the E-commerce tools market?
Asia Pacific dominates the E-commerce tools market with a large population, high mobile penetration rate, growing online shopping trends, and rising customers’ disposable income in the region.
-
What are the key players in the E-commerce tools market?
Constant Contact, HCL Technologies, Prisync, Easyship, Swiftype, Wingify Software, Tagalys, Cedcommerce, Dicentral, Knowband Store, AfterShip, SmartRIA, Vue Storefront, GB Group, Beeketing, Liana Technologies, Outgrow are the top players in the E-commerce tools market.