Market Insights Technology Software Enterprise Software

eCommerce Software - Canada

Canada

In Canada, the eCommerce Software market is anticipated to witness a significant growth in revenue, with projections indicating that it will reach €217.10m by the year 2024.
Moreover, it is expected that this market will continue to exhibit a steady annual growth rate (CAGR 2024-2029) of 3.94%, leading to a market volume of €263.40m by 2029.
When considering the average Spend per Employee in the eCommerce Software market, it is forecasted to reach €9.96 in 2024.
This metric provides insight into the amount of financial resources allocated per employee within this industry.
In terms of global comparisons, it is worth noting that United States is projected to generate the highest revenue in the eCommerce Software market, with an estimated value of €4,005.00m by 2024.
This highlights the dominance of the US market in this particular sector.
Canada is experiencing a surge in demand for eCommerce software as businesses adapt to the growing online shopping trend.

Key regions: China, Japan, Germany, United Kingdom, France

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Analyst Opinion

The eCommerce Software market in Canada has been experiencing steady growth in recent years.

Customer preferences: Canadian customers are increasingly turning to online shopping due to the convenience it offers. This trend has been further accelerated by the COVID-19 pandemic, which has forced many consumers to shift their shopping online. As a result, there has been a growing demand for eCommerce software that can help businesses manage their online stores and streamline their operations.

Trends in the market: One of the key trends in the Canadian eCommerce software market is the increasing adoption of cloud-based solutions. Cloud-based eCommerce software allows businesses to access their data and manage their operations from anywhere, making it easier for them to scale their businesses and expand into new markets. Another trend is the growing importance of mobile commerce, with an increasing number of consumers using their mobile devices to shop online. This has led to a greater focus on mobile-responsive design and the development of mobile-specific features in eCommerce software.

Local special circumstances: Canada has a highly developed eCommerce market, with a large number of businesses selling their products and services online. The country also has a strong technology sector, with many software companies developing innovative eCommerce solutions. Additionally, Canada's proximity to the United States has made it an attractive market for US-based eCommerce companies looking to expand their operations north of the border.

Underlying macroeconomic factors: The Canadian economy has been growing steadily in recent years, with a strong focus on innovation and technology. This has created a favorable environment for eCommerce software companies, as businesses increasingly look to digital solutions to help them grow and compete in the global marketplace. Additionally, the Canadian government has been supportive of the technology sector, providing funding and incentives to help businesses innovate and grow.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.