Commerce as a Service (CaaS) is a perfect solution for e-commerce businesses to manage and operate their virtual e-commerce services. CaaS is held on the cloud, and it provides a tailor-made hosting environment to its users.
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Mainly, CaaS facilitates customer support services, product information catalogue management, experience management, web content management, order routing & fulfilment, payment services, management of multiple buyers, and open catalogue interface (OCI) punch services.
Mobile devices such as smartphones and tablets are increasing the touch points and attracting customer traffic to the site, which is expected to help bring new channel sales to e-commerce businesses. In addition, low network bandwidth and weak network signals hinder the growth of the Commerce as a Service (CaaS) market.
Furthermore, security issues related to payment processes are key factors limiting the Commerce as a Service (CaaS) market growth. However, the rise in accessibility of cloud computing services and high speed 4GLTE network with reasonable internet plans are expected to boost the online platform market, which in turn is estimated to boost CaaS enabled e-commerce services during the forecast period.
COVID-19 scenario Analysis:
- The emergence of COVID-19 pandemic has severely affected almost all industries except Healthcare across the world. Further, lockdown restriction on movement has disrupted the supply chain across the globe and affected the distribution of the medical analysis software.
- There is a rise in the demand for business analytics in the healthcare industry for efficiently managing the huge volume of hospital data, such as the record of patients and availability of beds due to the sudden spread of the coronavirus disease (COVID-19).
- Furthermore, there are strong indications that the current decrease in demand for technology and digital solutions will be just a short-term phenomenon. In the medium-to-long run the COVID-19 technology impact may be extremely positive. Everyone is forced to embrace new technologies and discover their benefits. Additional investments in digital infrastructure can be expected.
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