eCommerce Software - Ghana | Statista Market Forecast

The eCommerce Software market in Ghana is expected to witness a significant increase in revenue, with projections indicating that it will reach US$3.38m by the year 2024.
Furthermore, it is anticipated that there will be a steady annual growth rate (CAGR 2024-2029) of 4.87%, resulting in a market volume of US$4.29m by 2029.
When considering the average Spend per Employee in the eCommerce Software market, it is estimated to reach US$0.22 in 2024.
This metric provides insights into the investment made by companies in their workforce to support the growth of the market.
In terms of global comparison, it is worth noting that United States is expected to generate the highest revenue in the eCommerce Software market, reaching an impressive US$4.36bn in 2024.
This highlights the dominance of the United States in this market segment.
Overall, the eCommerce Software market in Ghana holds considerable potential for growth and presents promising opportunities for businesses operating in this sector.
Ghana's eCommerce software market is experiencing rapid growth, fuelled by increasing internet penetration and a growing number of tech-savvy entrepreneurs.

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 Ghana has seen significant growth in recent years, with the increasing adoption of technology and the internet.

Customer preferences: Ghana's population is relatively young, with a significant portion being tech-savvy millennials. This demographic is increasingly turning to online shopping as a convenient and time-saving option. Additionally, the COVID-19 pandemic has accelerated the adoption of eCommerce software as people look for contactless ways to shop.

Trends in the market: One trend in the Ghanaian eCommerce market is the rise of mobile commerce. With the increasing availability of affordable smartphones and internet data, more Ghanaians are using their mobile devices to shop online. This trend has led to the development of mobile-friendly eCommerce software and payment solutions. Another trend is the expansion of eCommerce platforms to include more local vendors and products, catering to Ghanaian tastes and preferences.

Local special circumstances: One special circumstance in the Ghanaian eCommerce market is the prevalence of cash on delivery (COD) payment options. Many Ghanaians are still wary of online transactions and prefer to pay for their orders in cash upon delivery. This has led to the development of COD payment solutions by eCommerce software providers, which has helped to increase trust and adoption of online shopping.

Underlying macroeconomic factors: Ghana's economy has been growing steadily in recent years, with a GDP growth rate of 6.5% in 2019. This growth has led to an increase in disposable income and consumer spending, which has helped to drive the growth of the eCommerce market. Additionally, the government has implemented policies to encourage the growth of the digital economy, including the development of a national digital address system and the implementation of a cashless payment system. These policies have helped to create an enabling environment for eCommerce software providers and online retailers.

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.