Published: 05 September 2023
The digital commerce software market grew by 11.2% to reach $10 billion software revenue in 2022, reflecting moderating growth compared to the previous year. The growth reflected consolidation of offline and online experience, including investment surrounding the core digital commerce.
The top five vendors — Shopify, Salesforce, SAP, Adobe and Oracle — remained the dominant vendors, with Salesforce surpassing SAP to become the second largest vendor. These top five vendors represented about 41.7% market share, with the top three vendors dominating with 87% of the top five share.
Digital commerce software revenue grew by 11.2% in 2022, down from 21.8% in the previous year, and below the average CRM market growth of 14%. With the return of offline commerce, investment priority shifted from new technology adoption to consolidation of multiple touchpoints throughout the buyer’s journey, enrichment of the
Analysts:
Yanna Dharmasthira, Julian Poulter, Amarendra .
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