PRESS RELEASE: NEW ANALYST ATLAS OF E-COMMERCE IS OUT!

THE GROUP OF ANALYSTS (TGOA) RELEASES NEW ANALYST ATLAS OF E-COMMERCE

New report: The global e-commerce software market will reach a volume of USD 29.89 billion by 2032.

Meersburg, Germany, April 2024: The Group of Analysts (TGOA) forecasts that the global e-commerce software market will grow at a CAGR of 14.83 per cent, reaching USD 29.89 billion by 2032. TGOA identifies the evolving consumer behaviour, the availability of high-speed internet and mobile devices, rapidly growing segments such as automotive, electronics, and healthcare, technological advances, as well as the substantial impact of the e-commerce investments of big retailers as the main drivers for this remarkable market growth.

For the 2024 research report, the TGOA analysts evaluated thirty-five e-commerce software vendors, each of which is presented in detail by a dedicated profile. The assessment is based on the Market Performance Wheel developed by TGOA, which covers the strategic areas of ability to perform, market performance, future proof, and technology. The assessment identifies the following top performers: Adobe Commerce, BigCommerce, Emporix, Liferay, Salesforce Commerce, SAP Commerce Cloud, Shopify, and Shopware.

The vendors examined by TGOA show a wide range of characteristics. They differ significantly in important core areas such as key performance indicators, reactions to new technologies, communication and marketing, as well as implementation partner networks. Consequently, they provide a contrasting picture of the entire e-commerce software market.

“Against the backdrop of composability and its impact on innovation and business agility, it is paramount for e-commerce vendors to establish, expand, and promote their partner networks,” says Carmela Melone, senior analyst at TGOA. “The findings of our 2024 Analyst Atlas of E-Commerce suggest that the majority of the vendors underestimate this success factor. This holds true for both implementation and technological partners.”

Communication in general is an area where the vendors covered in this report show much room for improvement. “We were surprised to find that in e-commerce, communication is a generally weak area,” says Temel Kahyaoglu, chief analyst and founder of TGOA. “With only a few exceptions, which are highlighted in this Analyst Atlas, e-commerce vendors generally fail to exploit the potential of educating and entertaining their target audience via their main communication channels.”

The report covers the following e-commerce vendors: Adobe Commerce, BetterCommerce, BigCommerce, Centra, CloudSuite, Commercetools, Elastic Path, Emporix, Fabric, HCL Software, Ikas, Infosys Equinox, Intershop, Inveon, Kibo Commerce, Liferay, Optimizely, OroCommerce, Oxid eSales, PrestaShop, Propeller, Salesforce Commerce, Saly, Sana Commerce, SAP Commerce Cloud, Scayle, Shopify, Shopware, Spryker, Squarespace, Ucommerce, Volusion, VTEX, Weebly by Square, WooCommerce by Automattic.

About The Group of Analysts

The renowned analyst house The Group of Analysts (TGOA) has been monitoring the enterprise software market with its unique “Market Performance Wheel” analysis methodology since 2010 with the aim of creating transparency for all. Through comprehensive research reports, analyst guides, white papers, and its unique in-house magazine THE GAZETTE, TGOA provides top-notch insights, multifaceted perspectives, and objective information about the main software markets. In addition, TGOA offers holistic advisory services on all topics of digitalisation.

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