Digital commerce platform has increased the ease of selling and distributing products

A digital commerce platform is a system that enables the selling, distribution, and managing of cloud-based software and services. SaaS platform is one of the popular examples of a digital commerce platform. Digital commerce platform enables the selling of a wide variety of digital products. The popularity of these platforms has gained tremendously in the last few years due to the increased ease of use and cost-effectiveness. Ease of use here refers to the quick application of solutions to online shoppers without requiring any training. Cost-effectiveness refers to the lower costs of deploying and maintaining a digital commerce system. This is why more businesses are opting for digital marketing over traditional methods of advertising and PR.

Increasing use of consumer electronic products is a prime factor driving market growth. Also, increasing penetration of the internet around the globe is another key factor fueling the market growth of the digital commerce platform. According to the International Telecommunication Union, in 2019, 51 percent of the global population, or 4 billion people, were using the Internet.​​ Moreover, the high usage of smartphones and improvement in the speed of data networks and internet services is again projected to propel the market growth. An increasing number of the key manufacturer in the digital commerce platform industry will further favor the market growth over the forecast period.

The Asia Pacific is expected to exhibit significant growth over the forecast period and this is attributed to the increasing usage of consumer electronic products in the region. According to the India Brand Equity Foundation, the Indian appliance and consumer electronics (ACE) market reached Rs 76,400 crore (US$ 10.93 billion) in 2019. The appliances and consumer electronics industry is expected to double to reach Rs 1.48 lakh crore (US$ 21.18 billion) by 2025.

Key developments: 

1. In May 2020, Slatwall Commerce launches B2B eCommerce Kickstarter to roll out digital storefronts powered by an enterprise platform. It is an all-inclusive eCommerce solution designed to solve the dilemma many businesses are facing as a result of the Covid-19 pandemic and changing B2B purchasing trends.

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