DIGITAL COMMERCE PLATFORM MARKET ANALYSIS

Digital Commerce Platform MarketSize and Trends

The global digital commerce platform market size was valued at US$ 8.9 Bn in 2022, exhibiting a Compound Annual Growth Rate (CAGR) of 10.3% from 2023 to 2030.

Global Digital Commerce Platform Market- Trends

Digital commerce personalization tool:

Currently, the majority of businesses place a strong priority on client happiness, which involves offering fresh, unique experiences. The self-service, co-creation, and personalization important strategic developments all describe the present digital customer. In light of these trends, Infosys digital commerce delivers end-to-end capabilities that eliminate the need for middlemen in transaction processing, warehousing, inventory management, and channels. A complete set of digital commerce personalization solutions, including automatic behavioral warnings, product recommendations for email and the web, behavioral ranking, and actions that boost conversions and average order value, are also available through Episerver's intelligent personalization platform. For instance, In July 2023, E-bay, a global e-commerce company, announced the integration of new AI tools on its platform to provide personalized suggestions to the users based on the data related to the in-app activity. This would provide a better way for the digital commerce platform companies to target their users in an efficient manner.

Integration of digital commerce platform with other technologies:

An integrated digital platform interacts with other related systems such as enterprise resource planning (ERP), logistics and order fulfillment systems. This platform was created to cater to all the requirements in one platform. Furthermore, functionalities such as newsletters and marketing strategies were considered to be outside the purview of the platform. However, integrating it with other technologies has incorporated these systems into the digital commerce platforms. For instance, Elastic Path’s digital commerce platforms are often used for enterprise-wide capabilities and provide various fulfillment, licensing inventory, and post-transaction support. Elastic Path commerce integration platforms are also used to generate unified business APIs that power these applications in real-time. For instance, on July 25, 2023, QAD, an India based provider of cloud-based enterprise resource software, announced the launch of its new solution for e-commerce industry named ‘ QAD Digital Commerce’. The new software is an ERP (Enterprise Resource Planning) solution for the companies providing digital commerce services to manage all the resources of an organization effectively.

Global Digital Commerce Platform Market- Market-Trends

The global digital commerce platform market was valued at US$ 8.9 Bn in 2022 and is expected to reach US$ 19.57 Bn by 2030, exhibiting a CAGR of 10.3% between 2023 and 2030.