Market Insights Technology Software Enterprise Software

eCommerce Software - Philippines

Philippines

The eCommerce Software market in the Philippines is expected to reach a revenue of €10.13m by 2024.
This projection indicates a yearly growth rate of 7.78%, resulting in a market volume of €14.73m by 2029.
In terms of the average Spend per Employee, it is projected to reach €0.21 in 2024.
When compared to other countries, United States is projected to generate the highest revenue in the eCommerce Software market, with €4,005.00m in 2024.
The Philippines 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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The eCommerce Software market in Philippines has been experiencing significant growth in recent years, driven by various factors such as increasing internet penetration, growing smartphone usage, and the rise of social media platforms.

Customer preferences: In the Philippines, customers are increasingly turning to online shopping due to the convenience and accessibility it offers. With a large portion of the population living in urban areas, traffic congestion and long commutes are common, making online shopping an attractive alternative. Additionally, Filipinos are known for their strong sense of community and social media usage, which has led to the rise of social commerce in the country.

Trends in the market: One of the major trends in the eCommerce Software market in Philippines is the growing popularity of mobile commerce. With over 70% of the population owning a smartphone, mobile commerce has become a key channel for online shopping. Another trend is the increasing adoption of omnichannel retailing, where retailers are integrating their online and offline channels to provide a seamless shopping experience for customers. Additionally, there has been a rise in the use of chatbots and artificial intelligence to improve customer service and enhance the shopping experience.

Local special circumstances: The Philippines has a unique eCommerce landscape, with a large portion of the market dominated by local players. This is due in part to the high costs of logistics and delivery, which has made it challenging for international players to enter the market. Additionally, the country has a large unbanked population, which has led to the rise of alternative payment methods such as cash on delivery.

Underlying macroeconomic factors: The eCommerce Software market in Philippines is also influenced by underlying macroeconomic factors such as GDP growth, inflation, and government policies. The Philippines has been experiencing strong economic growth in recent years, which has led to an increase in disposable income and consumer spending. Additionally, the government has been implementing policies to promote the growth of the digital economy, such as the E-Commerce Roadmap 2016-2020, which aims to increase the contribution of eCommerce to the country's GDP.

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.