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Key regions: China, Japan, Germany, United Kingdom, France
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)