Market Insights Technology Software Enterprise Software

eCommerce Software - EU-27

EU-27

Revenue in the eCommerce Software market is projected to reach US$1.18bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.27%, resulting in a market volume of US$1.32bn by 2029.
The average Spend per Employee in the eCommerce Software market is projected to reach US$5.25 in 2024.
In global comparison, most revenue will be generated in the United States (US$4,364.00m in 2024).

Key regions: China, Japan, Germany, United Kingdom, France

Market

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Analyst Opinion

The eCommerce Software market in EU-27 has been experiencing a steady growth in recent years, driven by the increasing adoption of online shopping and the need for efficient management of online stores.

Customer preferences: Customers in EU-27 have shown a growing preference for online shopping due to the convenience it offers. This has led to an increase in demand for eCommerce software that can provide a seamless shopping experience for customers. Additionally, customers are also looking for software that can provide personalized recommendations and a wide range of payment options.

Trends in the market: One trend that has been observed in the eCommerce software market in EU-27 is the increasing adoption of cloud-based solutions. This is due to the flexibility and scalability that cloud-based solutions offer, making it easier for businesses to manage their online stores. Another trend is the integration of artificial intelligence and machine learning in eCommerce software to provide personalized recommendations and improve the overall shopping experience.

Local special circumstances: The eCommerce software market in EU-27 is diverse, with each country having its unique characteristics. For instance, countries such as Germany and France have strict data privacy laws, which have led to the development of eCommerce software that is compliant with these laws. Additionally, countries such as the Netherlands and Sweden have a high level of internet penetration, which has led to a higher adoption of eCommerce software.

Underlying macroeconomic factors: The growth of the eCommerce software market in EU-27 is also influenced by macroeconomic factors such as GDP growth, unemployment rates, and inflation. Countries with a higher GDP growth rate and lower unemployment rates tend to have a higher adoption of eCommerce software. Additionally, the COVID-19 pandemic has accelerated the adoption of eCommerce software as more businesses shift their operations online.

Methodology

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.