eCommerce Software - GCC | Statista Market Forecast

The eCommerce Software market in the GCC is anticipated to witness a significant growth in revenue, reaching US$49.69m by 2024.
This projection indicates a promising future for the market segment in the region.
Moreover, a steady annual growth rate (CAGR 2024-2029) of 4.50% is expected, resulting in a market volume of US$61.92m by 2029.
This suggests a positive trajectory for the eCommerce Software market industry in the GCC.
When it comes to the average Spend per Employee in the eCommerce Software market, it is projected to reach US$1.58 in 2024.
This figure showcases the average financial investment made per employee within the industry.
The GCC's eCommerce Software market is expected to witness a steady increase in its spending capacity, indicating a prosperous future for the sector.
In terms of global comparisons, United States is projected to generate the highest revenue in the eCommerce Software market, reaching a staggering US$4.36bn in 2024.
This highlights the dominance of the US market in the global eCommerce Software market industry and its significant contribution to the overall revenue generated worldwide.
The GCC, despite its growing market, still has a considerable way to go to reach the level of revenue generated by the US.
E-commerce software providers in the GCC are experiencing a surge in demand as businesses rapidly adapt to the online market.

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 GCC has been experiencing a steady growth in recent years.

Customer preferences: Customers in the GCC region have shown a growing preference for online shopping due to the convenience it offers. The COVID-19 pandemic has further accelerated this trend as people are avoiding physical stores and opting for online shopping. Additionally, customers in the region are becoming increasingly tech-savvy, which is driving the demand for eCommerce software.

Trends in the market: The eCommerce software market in GCC is witnessing a trend towards cloud-based solutions. This is due to the numerous benefits that cloud-based solutions offer, such as scalability, flexibility, and cost-effectiveness. Furthermore, there is a growing trend towards mobile commerce, which has led to an increased demand for mobile-friendly eCommerce software.

Local special circumstances: One of the unique characteristics of the GCC region is the dominance of cash on delivery (COD) payments in online transactions. This is due to the high level of mistrust that customers have towards online transactions and the lack of a well-established online payment system in the region. As a result, eCommerce software providers in the region have to cater to this preference by offering COD payment options.

Underlying macroeconomic factors: The GCC region is witnessing a growing population and a rise in disposable income, which is driving the demand for eCommerce software. Additionally, the governments in the region are investing heavily in digital infrastructure, which is creating a conducive environment for eCommerce businesses to thrive. Finally, the region's strategic location between Europe and Asia makes it an attractive market for eCommerce businesses looking to expand their reach.

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.