eCommerce Software - Eastern Asia

The eCommerce Software market in Eastern Asia is expected to witness a significant increase in revenue, with projections indicating that it will reach US$431.30m in 2024.
Moreover, the market is anticipated to exhibit a steady annual growth rate (CAGR 2024-2029) of 3.29%, resulting in a market volume of US$507.00m by 2029.
It is worth noting that the average Spend per Employee in the eCommerce Software market is projected to reach US$0.47 in 2024.
In terms of global comparison, United States is expected to generate the highest revenue in the eCommerce Software market, amounting to US$4.36bn in 2024.
In the rapidly growing eCommerce Software market in Eastern Asia, China dominates with its advanced technological infrastructure and a vast consumer base.

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

The eCommerce Software market in Eastern Asia has been experiencing rapid growth in recent years, driven by a number of factors unique to the region.

Customer preferences: Consumers in Eastern Asia have a strong preference for online shopping, with a particularly high demand for mobile shopping. This has led to the development of eCommerce software that is optimized for mobile devices, with features such as mobile payment options and easy-to-use interfaces. Additionally, there is a growing demand for personalized shopping experiences, with eCommerce software providers offering customized recommendations based on user data.

Trends in the market: In China, the eCommerce software market is dominated by large players such as Alibaba and JD.com, with a focus on social commerce and live streaming. In Japan, there is a growing trend towards cross-border eCommerce, with eCommerce software providers offering solutions for international transactions. South Korea has a highly competitive market, with a focus on mobile payments and social media integration. Overall, there is a trend towards increased integration of eCommerce software with other technologies such as artificial intelligence and blockchain.

Local special circumstances: One unique factor in the Eastern Asian market is the prevalence of social commerce, where eCommerce transactions are conducted through social media platforms. This has led to the development of eCommerce software that integrates with social media, allowing for seamless transactions within the platform. Additionally, there is a strong emphasis on customer service and after-sales support, with eCommerce software providers offering features such as chatbots and real-time customer support.

Underlying macroeconomic factors: The growth of the eCommerce software market in Eastern Asia can be attributed to a number of macroeconomic factors, such as the rise of the middle class and increased internet penetration. Additionally, government policies promoting eCommerce and digital transformation have played a role in driving growth. The COVID-19 pandemic has also accelerated the shift towards online shopping, with consumers increasingly turning to eCommerce software for their shopping needs.

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.