The digital commerce applications market worldwide will reach USD 4.1 Bn in 2017, marking a compound annual growth rate of 18.8%, according to a study by International Data Corporation. The strong growth projection for the next five years is supported by the fact that digital commerce applications are one of the fastest growing segments in the overall enterprise applications software market.
According to Christine Dover, Research Director,Enterprise Applications and Digital Commerce, “Enterprises are looking to replace aging, custom-developed applications with more modern and nimble applications that allow them to move quickly into new markets with pop-up stores and omni-channel solutions that provide consumers and business buyers with a consistent experience regardless of where they research, shop, buy, and return goods and services – online, mobile, in the store, through the call center, and more.”
Cloud solutions are also gaining traction as they provide enterprises with the ability to pop-up a new store, quickly enter a new market and create a new revenue stream among other things
According to the report, the top 5 vendors in this market in 2012, based on worldwide revenue, were IBM, Oracle, Digital River, Hybris, and Demandware, accounting for 45.6% of the market total. The total revenue for the market was USD 1.7 Bn in 2012, representing a growth of 18.4% over 2011.
Geographically, while most of the market is currently focused on North America and Western Europe, with strong growth further estimated for these regions, the report also forecasts that Asia Pacific, Latin America, and Central and Eastern Europe, and Africa will also be fast growing regions in 2013 to 2017.
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