ECommerce Platform Market by eCommerce Model (B2B and B2C), Offering (Solutions and Services), Industry (Beauty & Personal Care, Consumer Electronics, Home Decor, Fashion and Apparel, F&B), and Region - Global Forecast to 2028

"Growing need to enhance global presences is driving the growth of the eCommerce Platform market."

Researcher forecasts that the eCommerce platform market size is projected to grow from USD 7.0 billion in 2023 to USD 13.5 billion by 2028, at a CAGR of 13.8% during the forecast period. E-commerce platforms give businesses the opportunity to interact with a sizable and varied global audience without being bound by the restrictions of traditional store locations. Firms have the freedom to conduct business anywhere in the globe through the growth of their client base and the investigation of untapped markets. SMEs have started to utilize the possibilities of eCommerce and understand that its adoption could speed up the expansion of their firm in both domestic and global markets.

"By Solution, the payment & billing solutions subsegment is expected to grow with the highest CAGR during the forecast period."

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The payment & billing solutions enable B2B and B2C enterprises to manage the subscription life cycle, from subscription plans to subscriber's accounts, along with the recurring billing process. The software automates the operational tasks, such as activating and canceling subscriptions, making changes to them, carrying out billing and invoicing, tracking payments and sending payment reminders, and managing credits, discounts, promotions, and even trial periods. Business owners also benefit from a subscription-based business model, allowing them to generate a continued revenue stream from a single sale. A subscription eCommerce platform can help reduce administrative labor, increase customer satisfaction, save time, and increase profit margins.

"By health & wellness segment is expected to grow with the highest CAGR during the forecast period."

Consumers are focused on healthy lifestyles, greatly impacting the e-commerce health and wellness industry. Increasing digitalization has forced the healthcare industry to adopt technological solutions and transform its business online. SMEs and start-ups are developing new strategies to enhance their footprint in this market by leveraging the benefits of online platforms such as Amazon. The health and wellness industry has quickly adapted to the rise in consumer demands by offering multiple product ranges with lucrative offers. Online platforms have revolutionized how people access and consume health products, services, and information in the health and wellness industry.

"Asia Pacific is expected to grow with the highest CAGR during the forecast period."

The ongoing urbanization and investments in the region have led to significant demand for eCommerce platform systems. The past two years have seen an increase in home-grown online first brands, and many of these companies are now planning to expand into international markets, particularly in the Middle East and Southeast Asia. This expansion will bring in international capital and boost other Indian brands to expand globally. The B2C ecosystem may also experience some consolidation, with traditional brands or leading B2C companies acquiring other businesses in India and international markets to drive their growth

Breakdown of primaries

The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:

By Company Type: Tier 1 - 35%, Tier 2 - 39%, and Tier 3 - 26%
By Designation: C-level -25%, D-level - 35%, and Others - 40%
By Region: North America - 35%, Europe - 20%, Asia Pacific - 44%, RoW- 1%

The major players in the eCommerce Platform market are Shopify (Canada), eBay (US), Etsy (US), Square (US), BigCommerce (US), Amazon (US), Adobe (US), Wix (Israel), Oracle (US), Squarespace (US), WooCommerce (US), SAP (Germany), Salesforce (US), StoreHippo (India), Trade Me (New Zealand), Ecwid (US), OpenCart (China), Volusion (US), PrestaShop (France), Shift4Shop (US), Fast Spring (US), Shopware (Germany), VTEX (UK), Nuvemshop (Brazil), Tray.io (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, product enhancements, and acquisitions to expand their footprint in the eCommerce Platform market.

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