ECommerce Platform Market

Shopify (Canada) and Wix (Israel) are leading players in Ecommerce Platform Market

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. An increasing online consumer base with the growing adoption of smartphones will fuel the demand for eCommerce platforms. The growing global trend of consumers turning to online shopping has generated a significant need for eCommerce platforms. With the increasing popularity of digital shopping, businesses seek strong and reliable platforms to create and efficiently manage their online stores.

Various globally established players, such as Shopify (Canada), Wix (Israel), Oracle (US), Adobe Commerce (US), and Square (US), are dominating the eCommerce Platform market. To increase their market share in the eCommerce Platform market, these competitors have used a variety of growth methods, including partnerships, agreements, collaborations, new product releases, product enhancements, and acquisitions.

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Shopify is one of the leading providers of a cloud-based, multichannel commerce platform designed for enterprises to products online and offline. In April 2023, Shopify is enhancing its range of fintech solutions by introducing Shopify Bill Pay. This tool enables merchants to handle and pay directly to vendors within the Shopify admin dashboard without subscription fees. By partnering with Melio, Shopify Bill Pay allows merchants to save approximately 16 hours per month on business bill payments. Additionally, this solution is twice as fast as other B2B expense solutions available. With Shopify Bill Pay, the company continues to expand its suite of integrated financial solutions, providing merchants with a comprehensive set of required financial tools for efficiently managing and growing their businesses and optimizing their financial resources.

Wix Headless is a platform that allows developers to create websites and applications that are decoupled from the presentation layer. This means that the content and data of the website are stored separately from how it is presented to users. This gives developers more flexibility and control over the look and feel of their websites, while still leveraging Wix's powerful backend services. Wix Portfolio enables users to enhance their online presence and create a free portfolio website, with more than 900 customized templates.

Related Reports:

ECommerce Platform Market by eCommerce Model (B2B and B2C), Offering (Solutions and Services), Industry (Beauty & Personal Care, Consumer Electronics, Home Decor, Fashion and Apparel, F&B), and Region - Global Forecast to 2028

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ECommerce Platform Market Size,  Share & Growth Report
Report Code
TC 8745
RI Published ON
8/2/2023
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