Digital Commerce Platform Market Size, Share, Trends, Growth and Forecast 2032

Digital Commerce Platform Market Insights

According to a report from Zion Market Research, the global Digital Commerce Platform Market was valued at USD 9.95 Billion in 2023 and is projected to hit USD 44.46 Billion by 2032, with a compound annual growth rate (CAGR) of 18.1% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Digital Commerce Platform Market industry over the next decade.

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Global Digital Commerce Platform Market: Overview

Digital commerce platforms enable web-based transactions and promote the formation and development of customer relationships through various retail, wholesale, mobile, direct and indirect sales, digital sales networks and call centers.

Key features of this technology include the development and management of product catalogues, online stores, shopping carts, product reviews and customization. Organizations that seek to enhance customer service and expand the infrastructure needed to create innovative digital business designs are driving the market for these digital commerce platforms.

The digital commerce platform market has grown significantly over the past few years as a result of an increase in the use of these platforms by businesses in different industry verticals. This growth is expected to continue in the foreseeable future, driven by several factors such as the rising penetration of e-commerce, the proliferation of mobile devices, and the rising popularity of the omnichannel sales method. The convergence of technology and consumer behavior has resulted in a shift toward online shopping, which has been driving the adoption of digital commerce platforms.

As companies want to improve their online presence and take advantage of the expanding e-commerce sector, they are one of the principal elements driving demand for these platforms. Therefore, digital commerce platform vendors are ramping up their efforts to provide innovative and customizable digital commerce solutions that cater to the specific needs of different businesses.

Another key driver of the market is the growing trend of digital commerce consulting. Businesses are increasingly turning to digital commerce consultants for guidance as they try to make their way through the industry’s complicated terrain and find the platform that perfectly suits their specific requirements. This trend is anticipated to persist as more companies look to optimize their digital commerce strategies and stay one step ahead of the competition.

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Global Digital Commerce Platform Market: Growth Factors

The global demand for digital commerce platform is currently growing due to increasing global internet access and usage of consumer electronics, which is the major factor facilitating the growth of e-commerce and digital media industry. The market is also experiencing massive growth owing to the emerging cloud computing services that make it easier and faster for customers to access digital content. Players operating in the market are also concentrating on Asia Pacific for a wider range of opportunities given the current technological revolution in the region, coupled with the massive number of consumer electronics users in China. However, the global demand for digital commerce platforms is being limited by factors such as the lack of marketing skills displayed by players due to the emerging market stage and the increasing protection and security concerns about the use of malware and spyware.

The presence of a healthy e-commerce industry complements digital commerce, allowing for revenue generation and profit sharing on a bilateral basis. The development of strong e-commerce platforms has given the general public more interest in conducting all of their commerce operations through virtual channels. As vendors provide quality assurance to end-users, the concept of virtual shopping has gained traction. Furthermore, many people's busy lives leave no time for offline shopping. In this case, online shopping has proved to be a secure and productive way of purchasing and subscribing to services.

The coronavirus disease has sparked fear in many parts of the world, with people trying to stay isolated in their homes. Traditional shopping in malls and shopping arcades has been further reduced as a result of this. Online shopping is therefore expected to grow in popularity in the coming years. This would only add to the momentum that has been developing in the global digital commerce platform industry in recent years.

The global digital commerce platform market has also been boosted by the availability of internet access on smartphones and other portable devices. The use of e-commerce apps to select and purchase goods and services has increased. Through hosting items from a range of businesses and brands, e-commerce companies have raised the bar of choice for the general public. Moreover, for e-commerce customers, the option of trying and purchasing has become a common option. Due to all these factors, the global digital commerce platform market is anticipated to expand at a healthy rate in the coming years.

Global Digital Commerce Platform Market: Segmentation

On the basis of business model, the global digital commerce platform market is segmented into business to business, business to consumer, consumer to consumer, and consumer to business. In digital commerce, the business to consumer segment is a common and preferred business model that accounted for a substantial market share in 2024.

By deployment models, the global digital commerce platform market is segmented into software as a service, on-premise, fully managed and open source. In 2024, the on-premise segment dominated the market, the segment is expected to maintain its lead over the forecast period.  Software as a service is reported to demonstrate a lot of potential, and is likely to keep growing at a highest CAGR in terms of sales in the near future.

Digital Commerce Platform Market: Report Scope

Global Digital Commerce Platform Market: Regional Analysis

By Geography, the digital commerce platform market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East and Africa.

North America is the world's leading/significant region in terms of market share, due to the fast increase of the global digital trading platform market in its business-to-business model, whereas the North American retail sector has already become a major source of revenue for market players. The region has also resulted in a large existing base of digital media consumers, fuelled by high-performance smartphones, high-speed data networks and internet services.

Asia-Pacific is expected to have the highest growth rate over the projected period. The digital commerce platform market in the region is rising at a very rapid pace due to evolving customer preferences. This will further build lucrative growth opportunities for the digital commerce platform market across the Asia-Pacific region.

Global Digital Commerce Platform Market: Competitive Players

Some of the leading players in the global market inlcude

• Apttus Corporation
• Digital River Inc.
• Demandware Inc.
• IBM Corporation
• Elastic Path Software Inc.
• Oracle NetSuite
• Magento Inc.
• Salesforce. Inc

The report segment of global digital commerce platform market are as follows:

By Product Type Segment Analysis

• Business to Business (B2B)
• Business to Consumer (B2C)
• Consumer to Consumer (C2C)
• Consumer to Business (C2B)

By Application Segment Analysis

• Banking, Financial Services & Insurance (BFSI)
• IT and Telecommunication
• Airline & Travel
• Retail
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa