Global IT spending by Online Service and Application Market 2016-2020
About IT spending by Online Service and Application
The advent of new technologies such as LBS has opened new horizons for end-users and has changed buying behavior of consumers. Retailers are refocusing their business strategies to integrate online and offline media to create a seamless and personalized omnichannel customer experience.
Digital channels significantly influence purchase decisions of consumers. Shoppers use smartphones to read product reviews and compare prices. Increased Internet penetration and improved bandwidth have spurred the use of smartphones, which in turn, is accentuating e-commerce businesses. We expect a boom in online commerce to have a cascading effect on online grocery sales.
Currently, IT vendors provide e-commerce tools with built-in substitution management capabilities to provide alternative options for sold-out products in a bid to mitigate inventory clearance risks. They provide solutions for synchronizing in-store, and an online price variation as pricing for perishable goods is highly volatile. Also, they provide solutions for integrating order management systems with backend systems and analytics tools to streamline online order management.
Technavio’s analysts forecast the global IT spending by online service and application market to grow at a CAGR of 20% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global IT spending by online service and application market for 2016-2020. To calculate the market size, the report considers the revenue generated from end-users, including OTAs, cab aggregators, e-grocers, food delivery service providers, massive open online course (MOOC) service providers, and infotainment service providers.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global IT spending by Online Service and Application Market 2016-2020
Technavio recognizes the following companies as the key players in the Global IT spending by Online Service and Application Market: Cisco, HP, IBM, and Oracle.
Other Prominent Vendors in the market are: Ciklum, Citrus Pay, CRS Technologies, Demandware, Dolphin Dynamics, eBay-GSI Commerce, eCare Technology Labs, Expert Travel Services, FDS, HubSpot, Hybris, Infosys, JDA Software, Lemax, MapmyIndia, Microsystem, mTrip, NetSuits, PayU, PcVoyages 2000, Qtech Software, Salesforce, Technoheaven Consultancy, TourSys Solutions, Tramada Systems, TravelCarma, Trip Solutions, Web Booking Expert, and Zaakpay.
Commenting on the report, an analyst from Technavio’s team said: “In-app payment systems through digital wallets have replaced cash payment systems for cab riders as they allow convenient payment modes for customers. The increase in user base for mobile applications has changed the payment system for cab aggregators significantly. Money can be loaded in digital wallets, and the service charge is automatically deducted at the destination point without the need for the two-way authentication process.”
According to the report, tourists use smartphones, tablets, and connected devices for travel booking, smart assistance, social media postings, and blogging. OTAs provide mobile phone applications to customers for travel management. Widespread adoption of in-app advertisements requires technologies such as Google Ad Word, which results in travel companies to invest in application development software and services. To achieve better customer satisfaction, a large number of enterprises are significantly investing in developing mobile phone features that are user-friendly and offer advanced features.
Further, the report states that a majority of on-demand online service providers employ workers on contract basis such as cab aggregators, food delivery teams, and e-grocers. Over the past three years, cab aggregators are finding it difficult to attract casual workers due to regulatory pressure.
Cisco, HP, IBM, Oracle, Ciklum, Citrus Pay, CRS Technologies, Demandware, Dolphin Dynamics, eBay-GSI Commerce, eCare Technology Labs, Expert Travel Services, FDS, HubSpot, Hybris, Infosys, JDA Software, Lemax, MapmyIndia, Microsystem, mTrip, NetSuits, PayU, PcVoyages 2000, Qtech Software, Salesforce, Technoheaven Consultancy, TourSys Solutions, Tramada Systems, TravelCarma, Trip Solutions, Web Booking Expert, Zaakpay.