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Key regions: China, Japan, Germany, United Kingdom, France
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
in trillion USD (US$)
Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.
Most recent update: Jul 2024
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
in percent
Most recent update: Mar 2024
Source: Statista Market Insights
The eCommerce Software market in South America is experiencing significant growth due to various factors such as increasing internet penetration, rising smartphone usage, and the growing popularity of online shopping.
Customer preferences: Customers in South America are increasingly turning to online shopping due to its convenience and the availability of a wider range of products. This has led to a rise in demand for eCommerce software that enables businesses to create and manage online stores. Additionally, customers are becoming more tech-savvy and are looking for software that provides a seamless online shopping experience.
Trends in the market: Brazil is the largest eCommerce market in South America, followed by Argentina and Mexico. In Brazil, the eCommerce software market is dominated by local players such as VTEX and Nuvemshop, which offer solutions tailored to the local market. In Argentina, the market is more fragmented, with both local and international players such as Mercado Libre and Shopify competing for market share. The Mexican market is also seeing increased competition, with players such as BigCommerce and Magento vying for a larger share of the market.
Local special circumstances: One of the challenges facing eCommerce software providers in South America is the lack of a unified payment system. Each country has its own payment methods and regulations, making it difficult for businesses to offer a seamless payment experience across borders. Additionally, logistics and delivery can be challenging in certain areas, particularly in countries with large rural populations.
Underlying macroeconomic factors: The eCommerce Software market in South America is being driven by a number of macroeconomic factors, including the growth of the middle class, increasing internet penetration, and rising smartphone usage. Additionally, the COVID-19 pandemic has accelerated the shift towards online shopping, with many consumers opting to shop online to avoid crowded stores. As a result, businesses are increasingly investing in eCommerce software to stay competitive and meet the changing needs of their customers.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Sources: Statista Market Insights , Financial Statements of Key Players , National statistical offices
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.The following Key Market Indicators give an overview of the social and economic outlook of the selected region and provide additional insights into relevant market-specific developments. These indicators, together with data from statistical offices, trade associations and companies serve as the foundation for the Statista market models.
Source:
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