Magic Quadrant for Digital Commerce
Vendors or products added in this year’s report may indicate a change in the market, change in evaluation criteria, or change of focus by the vendor.
Vendors or products dropped from one year to the next may indicate a change in the market, change in evaluation criteria, or change of focus by the vendor.
The digital commerce market reached $9.98 billion in software revenue in 2022, representing 11.2% YoY growth. This is half its growth pace in 2021, halting the aggressive growth seen in the past few years. High inflation, strong currency exchange headwinds and economic uncertainties caused businesses to scrutinize additional spending further. With the return of physical commerce, investment priority shifted from new technology adoption to consolidation of multiple touchpoints throughout the buyer's journey, enrichment of the respective customer experience and stronger integration with legacy systems. Gartner expects digital commerce market growth to return to 16.7% in constant currency in 2023 as businesses continue to grow their digital strategy.
A: We review and adjust our inclusion criteria for Magic Quadrants as markets change. As a result of these adjustments, the mix of vendors in any Magic Quadrant may change over time. A vendor's appearance in a Magic Quadrant one year and not the next does not necessarily indicate that we have changed our opinion of that vendor. It may be a reflection of a change in the market and, therefore, changed evaluation criteria, or of a change of focus by that vendor.