Magic Quadrant for Digital Commerce
6 November 2024 - ID G00801151 - 52 min read
By Mike Lowndes, Sandy Shen, and 3 more
The digital commerce platform market’s revenue grew by 11.5% in 2023 to $8.9 billion. While below pandemic-driven rates, growth is steady, and Gartner expects an increase over 2024 to 2025. This Magic Quadrant assesses 19 digital commerce vendors to help application leaders make informed decisions.
Strategic Planning Assumption
By 2026, 30% of B2B sales cycles will be managed through digital sales rooms, which will then be used to manage the customer life cycle.
Market Definition/Description
Gartner defines digital commerce as the technology that enables customers to purchase goods and services through an interactive and self-service or assisted experience. The platform provides necessary information for customers to make their buying decisions and uses rules and data to present fully priced orders for payment. The commerce product must support interoperability with customer data, product content (e.g., price, availability) and order functionality and data via APIs. Digital commerce is commonly delivered as single or multitenant SaaS, or as single-tenant hosted or managed hosted (PaaS) applications. It could be offered for on-premises implementations in some circumstances.
Digital commerce enables customers to purchase goods and services through an interactive and self-service or assisted experience, providing the necessary information for customers to make buying decisions.
Mandatory Features
The must-have capabilities for this market include out-of-the-box (OOTB) capability or the APIs to support:
- A self-service, interactive commerce experience that includes storefronts, product catalog navigation, search, product pages, promotions, shopping carts, check-out and customer accounts
- Discovering products, adding products to a cart and fully pricing an order inclusive of product-level, customer-level and order-level discounts or promotions
- Business tooling for site merchandising (including search and navigation), product catalog and content management, user access management, promotions management and site operations and configurations
- Interoperability with customer, product content (including price and availability) and order functionality and data via APIs
- Front end as a service/experience composition
- Personalization, testing and optimization
- Product information, pricing and inventory management and/or integration