eCommerce Software - Estonia | Statista Market Forecast

The eCommerce Software market in Estonia is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach US$1.24m by 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate (CAGR 2024-2029) of 3.46%, resulting in a market volume of US$1.47m by 2029.
When it comes to the average Spend per Employee in the eCommerce Software market, it is projected to reach US$1.64 in 2024.
This indicates that companies operating in this segment are expected to allocate their resources efficiently to maximize their revenue potential.
In a global perspective, United States is anticipated to generate the highest revenue in the eCommerce Software market.
In 2024, the projected revenue for the United States is estimated to be US$4.36bn.
This highlights the dominant position of the United States in the global eCommerce Software market.
Estonia's thriving tech ecosystem has propelled the development of cutting-edge eCommerce software solutions, making it a hub for innovative online businesses.

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

Estonia, known for its advanced digital infrastructure, has been experiencing a steady growth in its eCommerce Software market.

Customer preferences: Estonian customers have shown a preference for eCommerce Software solutions that offer a user-friendly and personalized experience. They tend to favor platforms that offer a wide range of payment options, fast delivery, and seamless integration with social media platforms.

Trends in the market: The eCommerce Software market in Estonia has been witnessing a surge in demand for cloud-based solutions. This trend has been driven by the need for businesses to have a scalable and flexible solution that can adapt to their changing needs. Additionally, there has been an increasing demand for mobile-optimized eCommerce Software solutions, as more and more customers are using their mobile devices to shop online.

Local special circumstances: Estonia's advanced digital infrastructure, coupled with its tech-savvy population, has created a favorable environment for eCommerce Software companies. The country's small size and high population density have also made it easier for businesses to reach their target audience. Moreover, Estonia's strategic location as a gateway between Europe and Asia has made it an attractive market for eCommerce Software companies looking to expand their reach.

Underlying macroeconomic factors: Estonia's strong economic performance and low unemployment rate have contributed to the growth of its eCommerce Software market. The country's favorable business environment, which includes low corporate tax rates and a liberal trade policy, has also attracted foreign investment in the eCommerce Software sector. Additionally, Estonia's membership in the European Union has made it easier for eCommerce Software companies to do business across borders.

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.

Imagine a world without the apps you use daily, the games you enjoy, or the websites you rely on. Software development is the invisible hand behind this digital magic, transforming ideas into the tools that shape our lives. Software development is the process of creating, designing, deploying, and supporting software. It includes all the computer activities between the software's conception and final manifestation.

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.