eCommerce Software - Armenia | Statista Market Forecast

The projected revenue for the eCommerce Software market in Armenia is estimated to reach US$1.25m by 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 6.73%, leading to a market volume of US$1.73m by 2029.
The average Spend per Employee in the eCommerce Software market is projected to reach US$0.90 in 2024.
In a global comparison, United States is anticipated to generate the highest revenue, amounting to US$4.36bn in 2024.
Armenia's eCommerce software market is flourishing, with innovative platforms catering to the country's growing online business sector.

Definition:

The eCommerce Software market covers a wide range of software applications that support organizations in managing their online sales channels. These solutions typically include features for managing product catalogs, automation of shopping carts, order management, inventory management, and handling order fulfillment.

Products in the eCommerce Software market are most commonly available in the forms of cloud-based software and subscription services.

Additional Information:

The eCommerce Software market comprises revenue and revenue growth as the key performance indicators. Only the revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included and the revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by enterprises (B2B) and governments (B2G).

Key players in this market include Shopify, Salesforce, SAP, and Adobe.

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eCommerce software, such as BigCommerce, Shopify, WooCommerce, Salesforce Commerce Cloud, and Volusion
Product management, such as Jira Software (Atlassian) and CollabNet VersionOne
User accounts management, such as Microsoft, Okta, and OneLogin
Order management, such as SAP Order Management, Microsoft Dynamics 365 Commerce, and NetSuite Order Management

Administrative Software, such as ADP, Gusto, Workday, and SAP
Office Software, such as Microsoft, Google, and Zoho

Armenia, a country with a rich history and culture, is also experiencing a developing eCommerce software market.

Customer preferences: Armenian customers are increasingly turning to online shopping due to its convenience and accessibility. With a growing number of internet users and smartphone penetration, online shopping has become a popular choice for many Armenians. Customers prefer eCommerce software that provides a user-friendly interface, secure payment options, and fast delivery.

Trends in the market: The eCommerce software market in Armenia is experiencing growth due to the increasing demand for online shopping. Many local businesses are also starting to shift their focus to online sales, resulting in a rise in the number of eCommerce platforms. The market is becoming more competitive, with eCommerce software providers offering a range of features and services to attract customers. One trend in the market is the integration of artificial intelligence (AI) and machine learning (ML) into eCommerce software to provide a more personalized shopping experience for customers.

Local special circumstances: Armenia's eCommerce software market is relatively small compared to other countries in the region. However, the country's strategic location between Europe and Asia presents an opportunity for eCommerce businesses to expand their reach to both markets. The government has also been supportive of the development of the eCommerce industry, with initiatives such as the establishment of the Armenian National E-commerce Association.

Underlying macroeconomic factors: Armenia's economy has been growing steadily in recent years, with a focus on developing the technology sector. The country has a highly educated workforce and a thriving startup scene, which has contributed to the growth of the eCommerce software market. Additionally, Armenia has a strong diaspora community that is interested in supporting local businesses, including those in the eCommerce sector. The government's efforts to improve the country's infrastructure, such as expanding broadband internet access, have also supported the growth of the eCommerce industry.

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

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These activities are planned and put into stages in a logical order, a process known as the software development life cycle (SDLC) or software development. The SDLC often includes six stages: requirement analysis, design, development, testing, implementation, documentation, and evolution. Programming languages such as JavaScript and C++ are used to create software, with JavaScript being the most popular programming language in 2023 and used by roughly 65 percent of software developers.