Europe E-commerce Software Market is Expected to Reach US$ 3263.24 Million by 2027, Growing at an Estimated CAGR of 12.5% Over the Forecast Period Mainly due to Increasing Popularity of Online Shopping

PUNE, India, Feb. 24, 2020 /PRNewswire/ -- E-commerce sector is one of the fastest growing markets in Europe; largely due to increase in internet penetration, rise in smart phone users etc. It is estimated that 1 in 4 Europeans who have access to internet shop online at least once a month. Since there are thousands of E-commerce firms in the European market, competition is very high. To deliver seamless experience to customers, a robust E-commerce platform is necessary for firms to increase customer satisfaction.

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Managing inventory and orders, securing customer information, automated shipping and taxation are some of the features which an E-Commerce Software offers. On premise e-commerce software has been widely used by firms, however due to increased maintenance costs, cloud based software is becoming extremely popular. Since, the vendor manages data security, bug fixes, updates etc. the firm can focus on its core competency. By deployment, cloud based software represents the largest segment in the Europe E-Commerce software market and is also projected to grow the fastest over the forecast period. 

E-commerce giants in Europe such as amazon Inc., Otto GmbH, John Lewis & Partners, which deliver products across Europe, have a robust E-Commerce software platform. Although E-commerce sector is dominated by large firms, because of low barriers to entry; there has been significant rise in number of small and medium E-commerce firms which require a reliable e-commerce software. By end user, large enterprises represents the largest segment in the Europe E-Commerce software market, however small and medium enterprises is projected to grow at the highest CAGR over the forecast period.

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The detailed research study provides qualitative and quantitative analysis of Europe e-commerce software market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional presence and strategies. The geographical analysis done emphasizes on each of the major countries across Europe.

Key Findings of the Report:

• In terms of revenue, Europe E-commerce software market is expected to reach US$ 3263.24 million by 2027, due to increase in digital literacy.
• By deployment, cloud based is expected to witness a considerable growth over the next eight years due to its cost saving nature and better efficiency as compared to on-premise type.
• By end user, small and medium enterprises is expected to witness a considerable growth over the next eight years due to rise in number of startup E-commerce firms.
• By vertical, retail is expected to witness the highest growth over the forecast period owing to people preferring online shopping over brick and mortar stores.
• Since the last decade, customers have gradually shifted from brick and mortar stores to online shopping for purchasing retail goods; mainly due to ease of access, discounts amongst others. By vertical, retail e-commerce represents the largest segment in the Europe E-Commerce software market. With increasing disposable incomes, the travel sector is set to grow exponentially. The popularity of travel and hospitality e-commerce firms is on the rise, since customers can book tickets with ease. Travel and hospitality is projected to be the most attractive segment over the forecast period.
• By country, Germany is projected to witness the highest CAGR of 13% over the forecast period; and this is mainly due to Germany being the most technologically advanced country.  Germany represents the largest region in the Europe E-Commerce Software market. This is largely due to Germany being the most technologically advance country with high digital literacy. In addition, Germany is also projected to be the most attractive segment over the forecast period.
• Some of the players operating in the Europe E-commerce software market are Shopify Plus, Magento Commerce, Pepperi, BigCommerce, PrestaShop, InsiteCommerce, NetSuite, SAP Hybris, GoEcart, OpenCart amongst others

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E-COMMERCE SOFTWARE MARKET:

By Deployment:

• On Premise
• Cloud Based

By End-User:

• Small and Medium Enterprises
• Large Enterprises

By Vertical:

• Retail
• Travel and Hospitality
• Healthcare
• Banking, Financial Services & Insurance (BFSI)
• Automotive
• Fashion and Lifestyle
• Others

 By Geography

• Europe
• France
• The UK
• Spain
• Germany
• Italy
• Nordic Countries
• Denmark
• Finland
• Iceland
• Norway
• Sweden
• Benelux Union
• Belgium
• The Netherlands
• Luxemburg
• Rest of Europe

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About Us:

Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization.

From the in-depth analysis and segregation, we serve our clients to fulfill their immediate as well as ongoing research requirements. Minute analysis impact large decisions and thereby the source of business intelligence (BI) plays an important role, which keeps us upgraded with current and upcoming market scenarios.

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SOURCE Absolute Markets Insights

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