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Ecommerce Platform Market worth $13.5 billion by 2028 – Exclusive Report by MarketsandMarkets™

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CHICAGO, Aug. 4, 2023 /PRNewswire/ — With an emphasis on sustainability, adoption of AR/VR, AI-powered personalisation, and mobile commerce, the market for e-commerce platforms appears to have a bright future. Other significant developments affecting the market include omnichannel integration, voice commerce, data security, and cross-border e-commerce.

The Ecommerce Platform Market size is projected to grow from USD 7.1 billion in 2023 to USD 13.5 billion by 2028, at a CAGR of 13.8% during the forecast period, according to MarketsandMarkets. The usage of eCommerce systems will rise in response to the growing demand to improve worldwide visibility. Without being constrained by the limitations of traditional store locations, e-commerce platforms enable businesses to engage with a large and diverse global audience. Through the expansion of their customer base and exploration of unexplored markets, firms are free to operate anywhere in the world. SMEs have begun to make use of eCommerce’s potential and recognize that its adoption could hasten the expansion of their business in both home and foreign markets.

Browse in-depth TOC on “Ecommerce Platform Market
249 – Tables
50 – Figures
255 – Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=144705437

Scope of the Report

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Report Metrics

Details

Market size available for years

2018-2028

Base year considered

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2022

Forecast period

2023–2028

Forecast units

Value (USD) Million/Billion

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Segments Covered

Offering, eCommerce Model, and Industry

Region covered

North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Companies covered

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Shopify (Canada), eBay (US), Etsy (US), Square (US), BigCommerce (US), Amazon (US), Adobe (US), Wix (Israel), Oracle (US), Squarespace (US), WooCommerce (US), SAP (Germany), Salesforce (US), StoreHippo (India), Trade Me (New Zealand), and many more.

 

By offering, the service segment is expected to grow with the highest CAGR during the forecast period

Services play an important role in implementing, deploying, and integrating eCommerce solutions. Services are crucial for the effective functioning of any software. The services segment comprises integration and deployment, support and maintenance, and training and consulting services related to the eCommerce platform. As the Ecommerce Platform Market grows, the service demand is also expected to increase. Hence, the service providers deliver dedicated services by understanding customers’ demands and needs. Furthermore, services are sometimes provided by channel partners who strengthen the geographical reach of online sellers.

By eCommerce Model, the B2B segment is expected to grow with the highest CAGR during the forecast period

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B2B eCommerce defines the exchange of goods and services between companies via an online platform. Operators undertake business between companies and are not related directly to end users or consumers. The credit for the booming Indian B2B eCommerce marketplace goes to new enterprises that paved a new path for growth. Having access to finance and capital investment, the B2B firms got fueled with a new and broad spectrum of opportunities. The unprecedented growth of the B2B marketplace can be given a hand-down to several start-ups that fueled B2B commerce by providing an online marketplace on their websites.

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Asia Pacific is expected to have the highest growth rate during the forecast period

Asia Pacific exhibits a notable propensity for technology adoption and is poised to achieve the highest growth rate in the Ecommerce Platform Market in the coming years. Boasting a substantial share of the global population, this region is poised to be significantly influenced by major technological shifts. It encompasses robust economies such as China, Japan, India, and South Korea, contributing to the surging demand for IoT, analytics, cloud computing, AR, VR, and software, particularly in the commercial sector. The market’s growth is driven by the increasing adoption of eCommerce in the region, the growing middle class, and the rising penetration of smartphones.

Top Key Companies in Ecommerce Platform Market:

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The major players in the Ecommerce Platform Market are Shopify (Canada), eBay (US), Etsy (US), Square (US), BigCommerce (US), Amazon (US), Adobe (US), Wix (Israel), Oracle (US), Squarespace (US), WooCommerce (US), SAP (Germany), Salesforce (US), StoreHippo (India), Trade Me (New Zealand), Ecwid (US), OpenCart (China), Volusion (US), PrestaShop (France), Shift4Shop (US), FastSpring (US), Shopware (Germany), VTEX (UK), Nuvemshop (Brazil), Tray.io (US). To increase their market share in the eCommerce platform industry, these competitors have used a variety of growth methods, including partnerships, agreements, collaborations, new product releases, product enhancements, and acquisitions.

Recent Developments

  • In April 2023, Square announced a major product release in April 2023, which included over 100 new features across its entire product ecosystem. The new features are designed to help businesses automate their operations, increase revenue, and provide a better customer experience. Square is committed to providing businesses with the tools they need to succeed, and this release is a significant step in that direction.
  • In July 2022, Shopify partnered with YouTube, enabling Shopify vendors to sell their full range of products on YouTube Shopping with videos, live streaming, and store tab.
  • In May 2022, Shopify acquired Deliverr, a fulfillment technology provider, to eliminate the complexity of the supply chain for merchants of all sizes and deliver millions of orders per month across the US.
  • In May 2023, Cardinal Health introduced new payment solutions in collaboration with Square to support independent pharmacies. These modern payment solutions aim to enhance operational efficiency, keep up with customer payment preferences, and provide integrated software tools for business management. Through this partnership with Square, Cardinal Health can offer independent pharmacy customers access to cutting-edge products that facilitate seamless business operations management.

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Ecommerce Platform Market Advantages:

  • By removing geographical obstacles and extending their consumer base beyond local marketplaces, e-commerce platforms allow companies to access a worldwide audience. This creates fresh chances for development and income generation.
  • E-commerce systems enable firms to operate online and remain available round-the-clock, giving customers the freedom to shop whenever it’s convenient for them. The sales potential and client happiness are both increased by this constant availability.
  • E-commerce platforms typically have reduced operational costs compared to conventional brick-and-mortar stores. Physical storefronts are unnecessary, which lowers costs for rent, utilities, and in-store staff. Higher profit margins for businesses may result from this cost-effectiveness.
  • A physical store can be established more slowly and inefficiently than an online business on an e-commerce platform. Businesses can launch new products or services faster, responding to market trends and customer demands promptly.
  • E-commerce platforms offer useful information on consumer behaviour and preferences, enabling companies to run focused marketing efforts. Customer engagement and conversion rates can be greatly increased by using personalised suggestions, email marketing, and remarketing techniques.
  • E-commerce platforms are adaptable and scalable, allowing companies to swiftly expand their operations and respond to changes in demand. With minimal disturbance, businesses may easily add new goods, functions, or payment methods.
  • E-commerce platforms give businesses access to useful data and analytics that help them better understand the behaviour, interests, and buying habits of their customers. This information can be utilised to improve product offers, marketing initiatives, and customer satisfaction.
  • Credit cards, virtual wallets, and other online payment mechanisms are all supported by e-commerce platforms. Businesses can also interface with numerous shipping companies to give clients a variety of delivery alternatives for added convenience.
  • Live chat, chatbots, and FAQ sections are frequently seen on e-commerce sites. Customers’ buying experiences are improved because to these solutions, which allow businesses to offer quick support.

Report Objectives

  • To determine, segment, and forecast the global Ecommerce Platform Market by offering, location type, application, vertical, and region in terms of value.
  • To forecast the size of the market segments to five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
  • To provide detailed information about the major factors (drivers, opportunities, threats, and challenges) influencing the growth of the Ecommerce Platform Market
  • To study the complete value chain and related industry segments and perform a value chain analysis of the Ecommerce Platform Market landscape.
  • To strategically analyze the macro and micro markets to individual growth trends, prospects, and contributions to the total Ecommerce Platform Market
  • To analyze the industry trends, pricing data, patents, and innovations related to the Ecommerce Platform Market.
  • To analyze the opportunities for stakeholders by identifying the high-growth segments of the Ecommerce Platform Market
  • To profile the key players in the market and comprehensively analyze their market share/ranking and core competencies.
  • To track and analyze competitive developments, such as mergers & acquisitions, product launches & developments, partnerships, agreements, collaborations, business expansions, and Research & Development (R&D) activities.

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About MarketsandMarkets™ 

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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/ecommerce-platform-market.asp
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Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches

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Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.

In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.

While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.

Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.

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Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.

Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.

Source: shakirabrasil.info

The post Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches appeared first on HIPTHER Alerts.

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Italy Ramps Up Crypto Oversight in Line with MiCA

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Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.

For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.

Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.

Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.

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This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.

Source: coinfomania.com

The post Italy Ramps Up Crypto Oversight in Line with MiCA appeared first on HIPTHER Alerts.

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1inch Network Teams Up with Blockaid for Shield API

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1inch Network has collaborated with Blockaid to introduce the 1inch Shield API, a pioneering advancement in Web3 security. This collaboration aims to enhance user protection within decentralized finance (DeFi) by bolstering defenses against fraudulent tokens. Blockaid, renowned for its expertise in Web3 security solutions, utilizes advanced data analytics and machine learning to swiftly identify and flag scam tokens, safeguarding users from potential financial risks.

The 1inch Shield API also addresses compliance with Anti-Money Laundering (AML) regulations through continuous screenings of blockchain addresses. Powered by TRM Labs, this feature scrutinizes addresses for associations with sanctioned entities and illicit activities, preemptively restricting suspect addresses to prevent regulatory infractions.

Additionally, 1inch integrates Etherscan Pro’s blocklisting capabilities to proactively blacklist suspicious addresses, further fortifying its security measures.

This initiative marks a significant milestone in DeFi security, promising unparalleled levels of security and compliance. As 1inch continues to deploy this technology across its platform, it aims to provide developers and users with enhanced protection and confidence in navigating the Web3 landscape.

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Source: cryptotimes.io

The post 1inch Network Teams Up with Blockaid for Shield API appeared first on HIPTHER Alerts.

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