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There is no doubt that India is the fastest-growing marketplace for e-commerce. The sector has accelerated unprecedented growth in recent years, rising at an annual rate of 51 percent. And it is predicted that the e-commerce market in India will reach from $38.5 billion in 2017 to $200 billion by 2026. For the past decades, the world has seen the digital landscape being spearheaded by platforms that grow on the far side core silos and are ready to win with customers holistically.

This growth in the industry has largely been provoked by augmenting internet and smartphone penetration. And the continued digital transformation in the country is projected to extend India’s total internet user base to 829 million by 2021 from 604.21 million as of last December, which supplies the United States the size of inclusivity. It is also estimated that the nation’s net economy will double from $125 billion as of April 2017 to $250 billion by 2020, largely driven by the e-commerce sector.

Reports projected that e-commerce is likely to produce more than 1 million jobs by 2022, actively supporting and contributing to over 20 million businesses – run by small and medium enterprises, entrepreneurs, according to leading practice corporations.

Technology and Innovation Playing Significant Role

E-commerce is a transactional process sector where parties exchange, and trade goods and services or convey information with the help of an electronic network, the Internet. Expanding at a high level, the industry majorly relies on technologies engaged in m-commerce (Mobile Commerce), online transaction processing, electronic data interchange (EDI), inventory and supply management systems, automated data collection systems, and digital marketing.

The sector can also be gone through with broader technologies for mobile devices, social media, and email tools. However, the very market like India has the opportunity to create a revived focus on research and development (R&D). It doesn’t mean the country has not shifted towards it, India has already made swift strides towards this direction.

As technological advancements have had an enormous impact on the e-commerce field, the face of the sector is still evolving. Sellers nowadays on e-commerce platforms have access to a period of time analytics package to understand their web consumer, enabling them not only to create personalised searching experiences but also utilize the information to envisage trends and fortify oneself against them.

There are several evolving technologies are knocking the door of e-commerce customers and sellers alike. With strategic plans, competitive marketing, and a skilled workforce aside, organizations in the e-commerce sector are expected to remain up to date with the latest technologies.