Retail E-Commerce Software Market Size, Share, Growth, And Industry Analysis by Type (On-Premise and Saas) By Application (PC Terminal and Mobile Terminal), Regional Forecast To 2031

Updated On: 08 April 2024

Retail E-Commerce Software Market Report Overview

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The global retail e-commerce software market size was USD 6356 million in 2021 and is projected to touch USD 15646.6 million by 2031, at a CAGR of 9.4% during the forecast period.

Retail e-commerce platforms streamline the entire business process so that even people with no technical background find it easy to operate. They are integrated with other platforms such as customer relationship management, payment gateways, accounting, inventory, email marketing, and ERP. Retail e-commerce platforms manage customer orders, check the status of the orders and keep track of the transaction. Processes like inventory management and automatic shipping are also managed by e-commerce software. The e-commerce stores can be operated 24 hours a day and 7 days a week and they don’t require constant monitoring. Marketing of the brand and the products also becomes easier using e-commerce software.

On-premise software is installed on the local computers and managed by a team on-site the business. It provides the facility of hands-on management and allows the fixing of problems as and when they arise. SaaS (Software as a service) is also known as hosted solutions. All the updates and features are automatically done with just one click. They provide great levels of customization and flexibility. They are also easy to launch and affordable for businesses to adopt.

COVID-19 Impact: Lockdowns to Boost Growth

Due to the COVID-19 pandemic, lockdowns were implemented all over the world to contain the rate of infection. Retail outlets had to close down and business was affected a lot. But e-commerce showed a lot of potential during this time. Small retail outlets and shops which had never conducted business on retail e-commerce software started to gain business again by listing themselves or starting their own e-commerce software. Lockdowns and fear of contracting the virus made people buy more and more online. Many products saw an all-time high in their sales. This had a positive impact on the retail e-commerce software market growth.

Latest Trends

"Additional Services Provided by E-commerce Software to Increase Demand"

Retail e-commerce software provides many additional benefits apart from just buying and selling products. They improve the customer experience by providing personalized experiences, grievance redressal, and discount coupons. Retail e-commerce software also automates the process of buying and payments. They are also incredibly efficient in inventory management and control. Due to these reasons, more and more businesses are adopting e-commerce as their mode of conducting business. Retail e-commerce software also has built-in SEO tools which allow more and more people to know about the products and can help in coming up with targeted marketing campaigns.

Retail E-Commerce Software Market Segmentation

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• By Type Analysis

On the basis of type, the retail e-commerce software market can be segmented into on-premise and SaaS. The on-premise segment will hold the dominant market share during 2022-2028.

• By Application Analysis

According to application, the retail e-commerce software market can be bifurcated into PC terminal and mobile terminal. The PC terminal segment is expected to dominate the market share through 2028.

Driving Factors

"Rising Mobile and Internet Users to Stimulate Demand"

Most people use smartphones these days. It is hard to find someone without a smartphone. All activities, whether education, business, entertainment, payments, or bookings can be done on smartphones. As the internet penetrates all regions of the world, it is inevitable that there will be an increase in the use of smartphones for the purpose of retail e-commerce. According to the GSMA, the internet penetration in mobile phones will reach approximately 60.5% by 2025. Smartphones are becoming cheaper, faster, and smarter very fast. E-commerce is anticipated to benefit greatly due to the growing number of mobile phone users.

"Physical Stores Selling Online to Support Growth"

People these days are drifting more towards retail e-commerce software rather than actually going to the market for their needs. This is due to the fact that e-commerce platforms provide more convenience to the users, as they can buy anywhere and anytime. Retail e-commerce software also provides more discounts than brick-and-mortar stores. Retail shops and outlets have started adopting retail e-commerce software for selling their products in addition to their physical stores. There are a large number of shops adopting retail e-commerce software. This is going to increase the retail e-commerce market size.

Restraining Factors

"Lack of Awareness Regarding E-Commerce in Developing Countries to Challenge Growth"

Developing countries still don’t have adequate internet access and the rate of usage of smartphones. While this is changing, it is still a slow process. Also, many people in developing countries still prefer to go to brick-and-mortar stores to buy the things they need. There is not enough trust in the retail e-commerce software. This could prove to be a challenge in the retail e-commerce software market growth.

Retail E-Commerce Software Market Regional Insights

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"North America to Dominate owing to Burgeoning Demand "

North America holds the largest share in the retail e-commerce software market. The North American region has a lot of prominent market players. Also, there is an increasing demand for e-commerce services in the region. E-commerce sales are rising continuously over the years and are expected to show positive growth even in the future. Many retail outlets have started their own e-commerce software to gain the advantage of this booming market.

North America is followed by the Asia Pacific region in terms of market share. Asia Pacific region is seeing rapid digitization in many countries. The digitization process is also supported by the governments. There is a huge population of internet users in the Asia Pacific. People have been drifting towards e-commerce software platforms for their daily needs.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Magento (U.S.)
• WooThemes (U.S.)
• Shopify (Canada)
• PrestaShop (France)
• VirtueMart (U.S.)
• OpenCart (U.K.)
• BigCommerce (U.S.)
• osCommerce (U.S.)
• Demandware (U.S.)
• Yahoo Store (U.S.)
• IBM (U.S.)
• SAP Hybris (Germany)
• Oracle ATG Commerce (U.S.)
• Open Text Corporation (Canada)
• Pitney Bowes (U.S.)
• CenturyLink (U.S.)
• Volusion (U.S.)
• Ekm Systems (U.K.)
• Digital River (U.S.)
• Constellation Software Inc. (Canada)
• Sitecore (U.S.)
• ShopX (India)
• Guanyi Software (China)
• Centaur (Australia)
• U1 City
• Bison (India)
• HiShop (Malaysia)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.