Cross-Border E-Commerce Software Market Revenue Analysis

Cross-border e-commerce software revenue is expected to reach $3.6 billion in 2024, according to a recent research report by Fact.MR. The global cross-border e-commerce software market is projected to grow at a CAGR of 15.2% and reach $14.8 billion by the end of 2034.

The high preference for online shopping, especially among women, is driving the expansion of e-commerce platforms, which is generating demand for supporting facilities such as software. Social media platforms are increasingly influencing people’s shopping habits. Several online retail channels offer end-users a seamless shopping experience and offer features such as displaying a wide range of products at affordable prices.

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The emergence of direct-to-consumer and private label business models also create profitable growth opportunities in the global market. These models enable organizations to collect and leverage consumer data, thereby providing personalized experiences and products for consumers.

The concept of the digital economy is likely to dominate in the coming years. Naturally, businesses are increasing their capabilities and strengthening their virtual presence. As globalization gains momentum, geographical boundaries are shrinking to a great extent, making cross-border e-commerce a reality. It is estimated that over 70% of millennials are involved in B2B purchasing processes, which will lead to global payment flows reaching US$156 trillion by 2022. Cross-border e-commerce is one of the fastest growing segments of e-commerce.

Outstanding Cross-Border E-Commerce Software Market Drivers

The growth of global e-commerce transactions is driving growth

Global e-commerce is expected to likely cross the $5 trillion mark by the end of 2022. This figure is expected to grow even more in the coming years. Needless to say, the prospects for cross-border e-commerce software are set to grow even more, opening up new growth opportunities.

Research indicates that just 18% of sales came from online purchases in 2020, which is expected to grow to 21% by 2022, a 17.9% increase. Among all geographic regions, China continues to dominate the global e-commerce market, accounting for more than half of all retail sales worldwide. As globalization gains momentum, geographic boundaries are blurring to a great extent, making cross-border e-commerce a reality. It is estimated that more than 70% of millennials participate in B2B purchasing processes, which will lead to global payment flows reaching US$156 trillion in 2022.

Cross-border e-commerce is one of the fastest growing segments of e-commerce. Over the past few years, cross-border e-commerce has grown rapidly due to the growth of online retailing and consumer preferences for international products.

Another factor is the steady growth of consumers using social media. Studies show that consumers are more likely to make purchases after seeing a product on social media. Social media platforms such as Facebook and Instagram also provide convenient ways to purchase directly through their websites or apps. In addition, well-known platforms such as Amazon, E-Bay and Alibaba are partnering with major social media giants to strengthen their influence in the cross-border e-commerce software space.

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Top E-commerce Software Players Zonos; FlavorCloud; Jagged Peak; Flow Commerce Inc.; Amazon.com; FedEx Corporation; Anchanto Services Pvt. Ltd.; WiseTech Global; OpenCommerce Group; AirBridgeCargo Ltd.; Ebay Inc.; Vipshop Inc.; JD.com; Asos Inc.

Key Segments Covered in the E-Commerce Software Industry Study
By implementation:
Cloud based
At location

By platform:
Business-Business
Business for the customer
Consumer-consumer

By organization size:
SME
Large enterprises

By category:
Consumer electronics
Furnishings
Food and beverages
Clothing and accessories
Personal Care & Beauty
Footwear
Healthcare and nutrition

By region :
North America
Latin America
west Europe
Eastern Europe
East Asia
South Asia and Pacific
MEA

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Competitive environment
Penetration into new geographies, collaboration with government agencies or service providers, and rebranding initiatives are some of the major strategies adopted by prominent cross-border e-commerce service providers. Some of the prominent market developments are as follows:

In May 2021, Flow Commerce Inc. introduced a new visual identity to better support the growth of cross-border e-commerce. This rebranding initiative reflected the company’s position as a leading provider of flexible and seamless cross-border e-commerce experiences for international customers

As of April 2022, Zonos has a contract agreement with the U.S. Postal Service to expand its international services, leveraging the company’s scalable technology to simplify international trade. Zonos APIs will enhance USPS services with new features for calculating duty and tax rates. In addition,

Anchanto Services Pvt. Ltd. entered the UAE market in May 2022 as an initiative to expand and strengthen its position as a leading e-commerce service provider in the Middle East. The company partnered with Logistics Executive Group and opened an office to support its expansion across the Arab world

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