eCommerce Software - Philippines | Statista Market Forecast

The eCommerce Software market in the Philippines is expected to reach a revenue of US$11.03m by 2024.
This projection indicates a yearly growth rate of 7.95%, resulting in a market volume of US$16.17m by 2029.
In terms of the average Spend per Employee, it is projected to reach US$0.23 in 2024.
When compared to other countries, United States is projected to generate the highest revenue in the eCommerce Software market, with US$4.36bn in 2024.
The Philippines is experiencing a surge in demand for eCommerce software as businesses adapt to the growing online shopping trend.

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 Philippines has been experiencing significant growth in recent years, driven by various factors such as increasing internet penetration, growing smartphone usage, and the rise of social media platforms.

Customer preferences: In the Philippines, customers are increasingly turning to online shopping due to the convenience and accessibility it offers. With a large portion of the population living in urban areas, traffic congestion and long commutes are common, making online shopping an attractive alternative. Additionally, Filipinos are known for their strong sense of community and social media usage, which has led to the rise of social commerce in the country.

Trends in the market: One of the major trends in the eCommerce Software market in Philippines is the growing popularity of mobile commerce. With over 70% of the population owning a smartphone, mobile commerce has become a key channel for online shopping. Another trend is the increasing adoption of omnichannel retailing, where retailers are integrating their online and offline channels to provide a seamless shopping experience for customers. Additionally, there has been a rise in the use of chatbots and artificial intelligence to improve customer service and enhance the shopping experience.

Local special circumstances: The Philippines has a unique eCommerce landscape, with a large portion of the market dominated by local players. This is due in part to the high costs of logistics and delivery, which has made it challenging for international players to enter the market. Additionally, the country has a large unbanked population, which has led to the rise of alternative payment methods such as cash on delivery.

Underlying macroeconomic factors: The eCommerce Software market in Philippines is also influenced by underlying macroeconomic factors such as GDP growth, inflation, and government policies. The Philippines has been experiencing strong economic growth in recent years, which has led to an increase in disposable income and consumer spending. Additionally, the government has been implementing policies to promote the growth of the digital economy, such as the E-Commerce Roadmap 2016-2020, which aims to increase the contribution of eCommerce to the country's GDP.

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.