Quadrant Knowledge Solutions announced that it has named HCL Software, a leading global technology company, as the 2022 Technology Leader in the SPARK Matrix analysis of the global market for B2C and B2B digital trading platforms.
The Quadrant Knowledge Solutions SPARK Matrix™ contains an in-depth analysis of global digital trading platform market dynamics, key trends, vendor landscape, and competitive position. The study provides competitive analysis and ranking of leading providers of digital trading platforms in the form of the SPARK Matrix, which provides users with strategic information to assess diverse vendor capabilities, competitive differentiation, and market position.
Digital commerce platforms help organizations market, distribute and manage goods and services and carry out sales, operations, and marketing activities across websites, mobile apps, and business infrastructures. Depending on provider capabilities, the platform can provide comprehensive trading capabilities for B2B, B2C, B2B2C, C2C (consumer to consumer), and C2B (consumer to business) models. Digital commerce platforms can provide out-of-the-box features such as storefronts, product catalog browsing, product pages, shopping carts, payment, and customer accounts for ease of use and a better shopping experience for different business segments. To meet unexpected business and customer needs, many digital trading platforms play a key role in developing a strong and secure business ecosystem and gaining actionable insights in real-time.
Due to the increasing digital transformation and customer-centric approach in various industries, a solid personalized customer experience strategy is considered one of the most essential to meet ever-increasing customer expectations, improve brand loyalty, and beat the competition. With the growing popularity of personalized customer experience and the creation of a strong digital presence across industry sectors, the digital trading platform market is expected to find significant adoption across all business segments.
The digital commerce platform’s core value proposition to provide actionable information, intelligent management and automation of product catalogs, and personalized experiences with intelligent search and real-time consulting are driving market growth across the geographic market and industry segments. As a result of increased competition and exponential growth opportunities, several new vendors are emerging with innovative technology offerings. Leading digital trading platform providers are investing significantly in enhancing artificial intelligence and machine learning capabilities to support a wide variety of use cases and using advanced automation and analytics to improve campaign performance and overall campaign efficiency apprenticeship.