In the grocery e-commerce industry, nearly half (** percent) of the respondents have already implemented headless architecture at their company as of February 2022. Furthermore, ** percent plan to implement headless commerce within two years, while ** percent have no plans to do so in the near future.
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The e-commerce technology market share is expected to increase by USD 10.57 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 19.07%.
This e-commerce technology market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers e-commerce technology market segmentation by application (B2C and B2B) and geography (North America, APAC, Europe, South America, and MEA). The e-commerce technology market report also offers information on several market vendors, including Adobe Inc., BigCommerce Holdings Inc., commercetools GmbH, HCL Technologies Ltd., Open Text Corp., Oracle Corp., Pitney Bowes Inc., Salesforce.com Inc., SAP SE, and Shopify Inc. among others.
What will the E-Commerce Technology Market Size be During the Forecast Period?
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E-Commerce Technology Market: Key Drivers, Trends, and Challenges
The increasing e-commerce sales are notably driving the e-commerce technology market growth, although factors such as growing concerns over data privacy and security may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the e-commerce technology industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key E-Commerce Technology Market Driver
One of the key factors driving the e-commerce technology market is increasing e-commerce sales. The e-commerce industry is progressing quickly, owing to various factors, such as the growing tech-savvy population, increasing Internet penetration, and the rising use of smartphones. The demand for globally manufactured products is also fueling growth by generating cross-border e-commerce sales. Furthermore, the presence of various multiple payment options, such as credit and debit cards, Internet banking, electronic wallets, and cash-on-delivery (COD), has led to a paradigm shift in the purchasing patterns of people from brick-and-mortar stores to online shopping. Also, e-commerce platforms not only enable consumers to buy goods easily as they do not have the physical barriers involved in offline stores but also help them in making better and more informed decisions, as consumers can view multiple user reviews on the website before purchasing a product. The growth of the e-commerce sector directly impacts the e-commerce technology market. All these factors have increased the demand for e-commerce software and services from end-users. Hence, the growth of the e-commerce industry will boost the growth of the global e-commerce technology market during the forecast period.
Key E-Commerce Technology Market Trend
The rising focus on developing headless CMS is another factor supporting the e-commerce technology market growth in the forecast period. The increasing number of touchpoints for customers, such as IoT devices, smartphones, and progressive web apps, is making it difficult for legacy e-commerce websites to manage demand from customers. Even though most retailers have not embraced the IoT, more customers are exploring new product information through devices, such as IoT-enabled speakers, smart voice assistance, and in-store interfaces. To resolve this issue and provide a more effective user experience, vendors are offering a headless e-commerce architecture. Headless e-commerce architecture is a back-end-only content management system (CMS). Furthermore, vendors are offering headless CMS solutions to simplify e-commerce applications and provide flexible software packaging for their clients. For instance, Magento, a subsidiary of Adobe Inc., offers GraphQL, a flexible and performant application programming interface (API), which allows users to build custom front ends, including headless storefronts, advanced web applications (PWA), and mobile apps. Such developments are expected to provide high growth opportunities for market vendors during the forecast period.
Key E-Commerce Technology Market Challenge
Growing concerns over data privacy and security will be a major challenge for the e-commerce technology market during the forecast period. Data privacy and security risks are the major barriers to the adoption of e-commerce technology. Hackers are constantly trying to search for vulnerabilities and loopholes in e-commerce infrastructure. Although e-commerce players, vendors, and end-user organizations try to adopt proactive prevention plans to counter security breaches within their systems, the rise in the number of e-commerce website hacking and ransomware attacks has resulted in financial and data loss for companies. In addition, public c
In 2022, global B2B professionals from the pharmaceutical field provided insight into digital channel revenue growth from 2020 to 2024. In 2020, they estimated that around ********* of revenue came from online orders. By 2024, the share of e-commerce revenue is forecast to increase to more than ** percent. B2C pharmacies growth in online revenue Business-to-consumer pharmacies are experiencing a comparable trend as business-to-business ones, with online revenue shares expected to rise from ** percent in 2020 to around ** percent by 2024. This parallel growth indicates a widespread shift towards digital commerce in both B2B and B2C segments of the pharmaceutical market. Investment in digital commerce channels To capitalize on this digital transformation, pharmacies are investing in various online platforms. B2C pharmacies are prioritizing websites, with ** percent investing in this channel, followed by point-of-sale systems at ** percent. Over half of B2C pharmacies are also exploring third-party marketplaces. In the B2B sector, sales representatives remain a key focus, with ** percent of pharmacies investing in this channel, while ** percent are leveraging third-party distributors. Additionally, some pharmacies are exploring advanced technologies, with half of the respondents planning to implement headless commerce within two years, indicating a continued push towards innovative digital solutions.
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In the grocery e-commerce industry, nearly half (** percent) of the respondents have already implemented headless architecture at their company as of February 2022. Furthermore, ** percent plan to implement headless commerce within two years, while ** percent have no plans to do so in the near future.