Magento Market Dominance: Essential Facts and Usage Statistics Unveiled
In the dynamic world of online shopping, Adobe Commerce (formerly known as Magento), has established itself as a leading player. Originally developed by Varien Inc. in 2007, this open-source e-commerce platform has grown significantly over the years.
Adobe Commerce offers two main classifications: Magento Open Source (previously known as Magento Community) and Magento Commerce (previously known as Magento Enterprise). The platform is used by a diverse range of businesses, from small startups to renowned global brands such as Olympus, Christian Louboutin, Land Rover, Jaguar, Ford, Coca Cola, P&G (Procter and Gamble), HP (Hewlett-Packard), Cox & Cox, Paul Smith, Helly Hansen, Sigma Beauty, Monin, Liverpool, Nestle Nespresso, and Tommy Hilfiger.
With a usage share of 1.1% among all websites and 1.6% among CMS-based websites, Magento holds a significant position in the e-commerce market. As of April 2021, it had a market share of 2.32% in global e-commerce platforms. In 2019, an impressive USD 155 billion worth of goods were sold through systems based on the Magento platform.
The popularity of Magento is evident in its numbers. There are over 300,000 Magento developers worldwide, and the platform is currently powering 65,403 e-commerce websites, according to Datanyze. Among all technologies on Adobe Systems, Magento has the largest share of 55.9%.
Magento's global e-commerce sales in 2020 amounted to USD 224 billion. The platform handles more than $100 billion in gross merchandise every year and manages USD 155 billion worth of transactions annually. E-commerce businesses attribute 10-80% of their revenue uplift to Magento.
Magento Commerce and Magento Commerce Cloud, the flagship products, offer a turnkey offering and are more premium in their appeal. These solutions are favoured by many businesses due to their robust features and seamless user experience.
Magento Open Source, on the other hand, is a non-hosted eCommerce platform that can be downloaded for free but is limited in features compared to its premium counterparts.
The first public beta version of Magento was released on August 31, 2007, and the software was launched on March 31, 2008, under the name 'Bento'. Over the years, Magento has undergone several transformations, culminating in its acquisition by Adobe Inc. in May 2018 for USD 1.68 billion. Today, it is known as Adobe Commerce.
Magento's market share has seen a steady increase, rising from 9% in 2019 to 13% in 2020. With its robust features, extensive community support, and growing market presence, Adobe Commerce continues to be a favourite among e-commerce businesses worldwide.
