Ecommerce Market Receive Overwhelming Hike In Revenues
The global e-commerce market is slated to expand at a sturdy pace in the years to follow. The trend of online sales is gaining momentum in recent times, and this factor has aided market growth. A juggernaut of possibilities for online sales and purchase have currently come to the fore. Moreover, shopping preferences of the masses have also changed dramatically over the past decade. The consumers have a wider net of choices across the online market, and this has drifted them away from the practice of going to the physical marketplace. In this scenario, e-commerce websites have become the central force for driving sales across online markets. Therefore, it is safe to expect that the global e-commerce market would witness amplified growth in the forthcoming years.
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The global e-commerce market can be segmented on the basis of hosting platform, end-user, product, and region. The growth of the global e-commerce market is led by North America, majorly due to the humongous export volume of the region. Several consumers goods find their origins in the US market. A large number of people subscribe to e-commerce platforms operating from the US.
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Global E-commerce Market: Notable Developments
The global e-commerce market is characterised by timely developments in the domain of operations and logistics.
- Most of the companies and e-commerce vendors prefer to host their products and services on Shopify. Shopify accounted for a little less than three-fourth of the total share in the global e-commerce applications market. Furthermore, the ease of developing an e-commerce platform on Shopify has been the key reason behind the growth of this vendor. The stellar pace of growth pertaining to the e-commerce market can be attributed to the expertise exercised by Shopify.
- SAP has emerged as a key player that has overhauled the operational dynamics of the global e-commerce market. The solutions offered by SAP are recognized across the globe. SAP has helped several e-commerce companies in expediting their processes and achieving sales goals.