Businesses and organizations are integrating commerce technology and services into their business processes and business models to enhance their core services. The growth of internet is a major contributor to the adoption of commerce technology and services around the globe. Commerce technology can be recognized as a combination of regulatory reforms and technological innovations such as optic fiber, and Digital Subscriber Line (DSL) etc. In addition, among all other commerce technologies, e-commerce helps in the implementation of digitally enabled commercial transactions which occur over the web between and among individuals and organizations. Furthermore, these technologies and services are often used by businesses and organizations for marketing, selling, service offering, online banking, and billing etc. The rising penetration of commerce technologies and services made huge impact socially and economically on individuals, businesses, retailers, and supply chain management among others. Commerce technology allows individuals and businesses to use mobile and smart-phone applications to carry out online transactions. Likewise, with increasing adoption of commerce technologies and services various retailers such as Wal-Mart Stores, Inc., and Amazon.com, Inc. are implementing Omni-channel model which allows them to integrate their separate channel to enhance customer support.
The adoption of commerce technologies and services is rapidly increasing due to reducing need for physical currency or goods to conduct transaction. Commerce technologies and services facilitate businesses and organizations in implementing low-cost advertisements, and reduce distribution, marketing, phone, postage and printing costs among many others. In addition, low capital investment and relatively relaxed entry barriers are required to establish companies on internet due to these technologies and services. Furthermore, commerce technologies allow businesses to implement cross-border markets for almost all products and services. Moreover, the increasing demand for products with less price tags are compelling businesses to adopt e-commerce technologies. All these traits are expected to drive the commerce technology and services market over the forecast period. However, hidden costs such as shipping, re-stocking fees, network unreliability/ failures, and security are major concerns for e-commerce technologies. In addition, government regulations and policies related to commerce technologies such as data protection, privacy, taxation, content, copyrights, electronic contracts and other communication, consumer protection norms are expected to restraint the large scale adoption of commerce technologies and services. However, the increasing penetration of internet around the globe and implementation of better security policies and procedures offer huge growth opportunities for the e-commerce technology market.
The commerce technologies and services market is segmented by end-use, by technology, by component, and by geography. By end-use, the commerce technology and services market is segmented into banking, financial services and insurance (BFSI), commercial and retail, corporate, media and entertainment, and others (consumer services, etc.). Based on technology, the commerce technology and services market is segmented into e-commerce, and m-commerce. By component, the commerce technology and services market is segmented into software, and services. Based on geography, the commerce technology and services market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among these regions, North America has seen flourishing growth in commerce technology and services due to high online population and growing popularity of remote transactions among businesses. Furthermore, Asia Pacific and Europe are expected to witness large scale adoption of commerce technology and services due to rising internet penetration among individuals, government, and businesses among others. For instance, the Indian government is emphasizing on the penetration of commerce technologies and services in businesses by initiating projects such as digital India and Aadhar.
The major players in e-commerce technology and services market include Oracle Corporation, International Business Machines Corporation (IBM), Hybris AG, Adobe Systems Inc., PrestaShop SA, Elastic Path Software Inc., eVision Technologies Ltd, JDA Software Group, Inc., CenturyLink, Inc., Insite Software Solutions, Inc., and Cleverbridge AG.
The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape.
The study is a source of reliable data on:
- Key market segments and sub-segments
- Evolving market trends and dynamics
- Changing supply and demand scenarios
- Quantifying market opportunities through market sizing and market forecasting
- Tracking current trends/opportunities/challenges
- Competitive insights
- Opportunity mapping in terms of technological breakthroughs
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market.
TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place. All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.