Why does technology speed up e-commerce, marketplaces and SaaS companies’ growth?

Quick overview concerning the potential of e-commerce, marketplaces and Saas companies

If you’ve ever thought about the potential of the e-commerce industry, take a careful look at these statistics. Revenue in the ecommerce market is estimated on $ 2027,945m in 2019. In comparison to 2018, this means a year-to-year increase by 11.3%. It is also estimated that 3769.2m users will benefit from e-commerce services in 2019. In this case, this makes an increase of 6.1% year to year. What’s more, in 2023 this number should change into 4475,7m users

It looks impressive, doesn’t it? We will now look at companies operating as a marketplace and those based on the SaaS model. The biggest advantage of marketplaces is undoubtedly the digitalization of purchasing processes.  It affects users who become more and more interested in online marketplaces. It is simply a convenient and cost-effective solution. Annually, the number of marketplaces around the world is growing significantly. Their increase is estimated at around 38% each year.

Another noticeable trend is the transfer of various sales and billing processes from offline to the network. It is connected with the ubiquitous technological development and the increase in the popularity of online points of sale. This fact contributes to the increase in the popularity of SaaS software. You may say that this is the future of online companies. This solution is very effective in every aspect. One of the most important factors is that it provides a possibility to monitor buying processes. That causes both –  higher efficiency and better cost-effectiveness.

Most interesting markets in Europe

E-commerce, marketplace and SaaS thrive in Europe. In terms of revenue, this part of the world is in the third place. Germany is considered to be the market leader in Europe and is quite possible. We already mentioned in one of our articles that Berlin is becoming a new Silicon Valley in Europe. In Germany, we can find many great developing companies of that kind, such as HeyJobs or Devolute. The Netherlands is also one of the best markets. There you will find such companies as Retrosync, Ace & Tate or Convious.

Companies from Nordic and Baltic countries have a stronger position. These markets can also be proud of their strong leaders for example CG Trader, Latio.lv and Vinted from Lithuania, Coolbet from Estonia. From the Nordic countries Pioneer Labs worth mentioning.

Generally, the whole Europe has potential in e-commerce, marketplace and SaaS development. Recently it has been Spain that can boast of progress. Tapnex company from Barcelona is really a perfect example.

Why does technology speed up e-commerce, marketplaces and SaaS companies’ growth?

And here is the answer. Good quality of technological facilities guarantee company’s security, allow it to maintain its constant growth, gain new customers and new markets, develop its services and constantly increase their quality. These are the most important factors that make technology crucial in the activities of this type of companies.

Imagine that you run your own e-commerce store. Hundreds of people visit it every day, and some of them make purchases. If they are satisfied – they will come back, but if they meet a technical problem… you may forget about second purchase. Taking into account a global scale, all technological facilities must be of the highest quality. Only in this way will the customer will achieve a sufficient level of satisfaction with your services and he will come back to make another purchase.

In addition, you must remember that the rapid development of technology is one of the most important trends in the era of current times, which itself stimulates the need for high-quality technology. Customers pay attention to the smallest details. Reliability of your website, complexity of solutions or lack of errors. The quality of technology in your business is of the utmost importance. Do not forget about it.

Read also:

– Why quality in software development is key?

– Most promising startups from Spain. They develop fast and go global!