Ecommerce Platform Market: Size Will Observe Substantial Growth By 2021-2031

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 Ecommerce Platform – Introduction

  • E-commerce platform is an advancement in the retail industry, which enables merchants to build web shops to enhance the facility of purchasing transactions over the web.
  • E-commerce is a rapidly expanding sector in various countries in the last few years, due to an increase in investments by key players in the market, who in turn have been focusing on consolidating their share for the last few years
  • The e-commerce platform provides seamless customer experience using offline and online shopping channels by linking smart devices to the e-commerce software. Expansion of the e-commerce platform market is due to the support provided by governments worldwide for infrastructure development of ecommerce sector.
  • Integration of big data analytics in the e-commerce sector is likely to provide significant opportunities to enhance customer satisfaction

Global Ecommerce Platform Market: Dynamics

Global Ecommerce Platform Market: Key Drivers

  • Increase in adoption of internet subscribers is boosting the use of ecommerce applications for shopping in various countries due to integration of smart devices in the market. This is estimated to propel the demand for ecommerce platform during the forecast period.
  • E-commerce platforms provide several options to modify delivery date, time in the application, and different payment modes to the user in order to improve customer experience. This is anticipated to boost the demand for ecommerce platform.
  • Rise in number of e-tailers owing to increasing convergence of online and off line channels to enhance customer experience is expected to fuel the demand for ecommerce platform during the forecast period
  • Complex and multifaceted infrastructure of various ecommerce applications is estimated to hinder the market
  • Increasing cyber-attack issues while operating the ecommerce application is anticipated to hamper the ecommerce platform market during the forecast period

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Impact of COVID-19 on Global Ecommerce Platform Market

  • The COVID-19 pandemic has resulted in the shutdown of factories – some on a temporary and others on a permanent basis – which has impacted the economy of countries across the globe.
  • Covid-19 have positively impacted the ecommerce platform market during the forecast period. In COVID-19 situation, as per government rules and regulations, people were not allowed to visit public places except in cases of emergency.
  • However, in this pandemic, key players of ecommerce platform such as Amazon, Flipkart, Shopify etc., played a vital role by providing essential products to customers, which in turn boosted the ecommerce platform market

North America to Hold Major Share of Global Ecommerce Platform Market

  • In terms of region, the global ecommerce platform market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • Presence of prominent players of the ecommerce platform market and rise in ecommerce entrepreneurs in the U.S. and Canada increases the rate of adoption of ecommerce platform in North America. These factors are likely to make North America the largest market for ecommerce platform across the globe during the forecast period.
  • Rise in awareness about ecommerce applications in Asia Pacific is expected to fuel the demand for ecommerce platform during the forecast period
  • Rise in number of ecommerce platform users in Europe is expected to propel the demand for adoption of ecommerce platform market in the region

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