Commerce technology spend will reach $2.1 billion by 2019, according to Forrester’s inaugural five-year forecast for this market, up from $1.2 billion in 2014 — a 12% compound annual growth rate.
Growth will come from two primary components of commerce technology platforms:
1. Commerce management software, which is used to power online storefronts and manage pricing, promotions, shopping carts, and purchase transactions.
2. Order management systems, which are used to orchestrate complex order processing scenarios from the point of capture through the point of fulfillment.
Further, B2B companies will spur growth, as they represent the lion’s share of new commerce software customers.
Many firms will outsource the burden of support, scalability, and upgrades — shifting to SaaS and on-demand platforms. Forrester expects nearly half of US customers, up from one-third today, to adopt this approach by 2019.
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