Why does Magento remain a leading e-Commerce platform?
There is a considerable number of e-Commerce platforms that have proliferated in recent years, with the sector become split between them both as a whole and on individual country levels. The Magento platform (including both Magento Community and Magento Enterprise) remains one of the most popular, with a leading position in several key markets.
Determining market share depends on the sample of sites taken and figures can vary considerably. When examining the entire internet-based market (as per each country’s internet extension – e.g. .uk, .fr, .de and so on), Magento has the following market share accord to Built With.
However, if we look at the Top 10k Sites (as identified by Built With, based on the Quantcast Top 10k Sites by traffic), it’s possible to see that Magento’s market share (including Magento Enterprise) for the most high volume sites is considerably higher and that it holds a market-leading position compared over its competitors.
For the highest volume sites, it is evident that Magento’s main competition comes from Oracle Commerce, WooCommerce and Shopify, with WooCommerce especially having a considerably larger market share when it comes to the entire internet-based market – some 41%.
Magento has grown to be phenomenally succesul. Every year it now handles over $50 billion in gross merchandising volume. Magento’s success can be put down to a range of factors. Comparatively early presence in the market (with the first version of the product) helped build a customer base, but the enduring success with high-traffic websites can only be down to the high levels of usability, adaptability and reliability of the platform. Using open source architecture further allows the platform to be expanded in a comparative simple and quick manner, with Magento extensions regularly being produced to add specific, bespoke functionality. Further, close working with partners and retailers in both the Business-to-Consumer and Business-to-Business markets had ensured that a strong market share has been built and retained.