Worldwide Digital Commerce Applications Forecast, 2020-2024

This IDC study provides a forecast for the worldwide digital commerce applications market through 2024. While COVID-19 is expected to impact the digital commerce software market, the effect is expected to be much less than most enterprise applications and the market forecasts a CAGR of 10.8% through 2024."As witnessed by the COVID-19 pandemic, practically every business in every industry needs a strategy for digital commerce. B2C and B2B organizations use these software applications to digitally transform how they merchandise, sell, deliver, and support customers," says Jordan Jewell, research manager, Digital Commerce and Enterprise Applications. "As the digital commerce applications market recovers and continues to evolve over the next five years, businesses will continue to make digital commerce a strategic focus in their digital transformation efforts to win over customers and capitalize on shifting buying habits."