London, 16 December 2015: Technavio, the independent tech-focused global research firm, has published a report on the global retail e-commerce software market 2015-2019, which is expected to grow at a CAGR of 12.95% during the forecast period of 2014-2019.
The increased adoption of advanced technology and its growing adoption by SMEs drives the market for retail e-commerce. Moreover, increased investment in the technology by organizations drives the need for better and fast delivery of services. This integration of mobile platform with e-commerce software has increased the agility in the solutions. The increased use of smartphones and tablets and introduction of advanced technologies like addition of secure payment facilities fosters the growth of the market.
“More customers are using e-commerce sites and shop online using tablets or smartphones. Retailers have responded by developing smartphone applications to tap the m-commerce market. Smartphones are increasingly being used for web surfing, making reservations, online payments, and online shopping,” says Faisal Ghaus, Vice President of Technavio.
Key Market Drivers
- Growing focus on high customer satisfaction
- Increased adoption of advanced technologies
- Shift toward digital commerce
Key Market Trends
- High adoption of cloud solutions
- Emergence of mobile commerce
- Increased demand for consumer electronics
Key Market Vendors
- Magento
- Oracle
- PrestaShop
- Shopify
- WooThemes
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Retail e-commerce software Market 2015-2019, please send an e-mail to media@TechNavio.com.
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