Recently acquired by Adobe, Magento 2 is one of the most popular eCommerce platforms around the world. Many enterprises are turning to Magento 2 development companies for building eCommerce stores because of the greater flexibility, usability, customization, and reliability that Magento offers. As of 2020, there are over 250,000 active eCommerce websites powered by Magento which accounts for around 12% of all eCommerce stores.
The best part is that Magento is supported by over 315,000 trained Magento 2 developers across the globe. These developers have created a robust resource of well-designed and tested Magento 2 extensions that extend the capabilities of your online store, helping to secure its new users year on year.
Here at Magento Developer Group, we like to keep Magento users up to date with the latest facts and figures, when it comes to all things eCommerce. To give you a detailed and clear picture of the current state of the Magento 2 platform, we have taken a closer look at some of the statistics from the last couple of years.
We’ll also look at some of the challenges with the Magento 2 platform and our prediction for what might come next for Magento and its users. If even with these updated statistics you are not sure about which platform to choose for your online store, why not hire our Magento 2 developers for a free consultation.
Latest Statistics about Magento 2 Usage Across the Globe
We have compiled a quick list of useful statistics about the Magento usage, geographical locations, and performance of its brands.
Here are the latest stats about Magento usage globally as revealed by Hosting Tribunal:
- There are more than 250,000 Magento eCommerce stores running on the internet.
- Magento is used for 12% of all eCommerce stores.
- Magento covers 1.2% of the internet as a whole.
- Around 11,000 of the total Magento eCommerce stores are built on Magento 2.
- In April 2020, Magento had 1.4% of the market share of all websites that use content management systems to manage the stores.
- Magento receives 5,000 downloads per day.
- Almost, 7,500 online have migrated to Magento from other eCommerce platforms in the last year.
Here are the latest Magento stats based on the geolocation, according to Builtwith:
- Most of the Magento users are from the United States, having 39,612 sites.
- In the second place, in the United Kingdom with 8,799 websites lives on the internet.
- With a total of 7,069 Magento websites, Germany takes up third place.
- Out of the top countries for Magento eCommerce stores, 9 of them are in North America and Europe except #8, Australia.
And here’s the latest facts and figures related to the performance of online retailers that choose Magento:
- According to Maven eCommerce, 202 Magento users are part of the Internet Retailer Top 1000 list.
- Magento is being widely used by some of the prominent brands worldwide including Ford, Coca Cola, etc.
- In the past couple of years, certain brands using Magento has experienced a whopping 200% increase in growth, and more still have seen a 100% increase as reported by Magento.
- In 2018, Magento websites managed $155 billion (USD) worth of transactions and this figure is achieved year over year, as stated by Hosting Tribunal.
- Magento 2 developers are front-liners when it comes to helping eCommerce business owners optimize their sites, according to Yahoo! Finance.
Magento Faces Tough Competition from Shopify & WooCommerce
ECommerce is a rapidly growing business sector, and undeniably Magento now faces some tough competition for the coveted number one position.
Currently, there are three major players in the eCommerce world – Magento, Shopify, and WooCommerce. Magento was once the number one eCommerce platform, however, today, it has been overtaken by both Shopify and WooCommerce.
Although Magento has been beaten by Shopify and WooCommerce in terms of market share, that doesn’t mean that the Magento 2 platform isn’t delivering the desired results for its users.
Magento is recognized as the ‘leading commerce solution’ in the ‘Internet Retailer’s annual Top 1000 ranking of leading eCommerce retailers’. Magento 2 development is gaining popularity each year. The eCommerce migration experts Cart2Cart has revealed that 9% of online retailers have migrated from other eCommerce platforms to Magento in 2019. It is ranked in the third position after Shopify and WooCommerce for customer migration. All these three major platforms are having neck-to-neck competition with each other as the platform for migration trends changes every year.
However, these figures do not mean that one platform outperforms the other. It is a matter of a retailer’s choice for a platform based on budget and technical knowledge.
What’s Next for Magento Users?
Apart from the tough competition from Shopify and WooCommerce, another biggest challenge for Magento is getting its users to migrate from Magento 2 to its latest version, Magento 2.
As a reliable Magento website development company, we urge users to upgrade their store from Magento 1 to Magento 2 to make the most out of the content management system. As Magento 1 has reached its end-of-life in June 2020 and will no longer receive security patches and updates, putting both businesses and customers at huge risk. It’s found that between 200,000 and 240,000 eCommerce websites built on the Magento 1 platform haven’t yet migrated to Magento 2, despite Magento 1 end of life.
Since it has been acquired by Adobe in mid-2018, the cost of Magento eCommerce development is slightly higher than other eCommerce platforms. The budget issues with Magento 2 development is another major reason that is refraining people from switching to Magento 2.
If you’re running a Magento eCommerce store and need help with Magento 2 upgrade and migration, our Magento 2 developers are always ready to help you. We also offer a wide range of Magento 2 extensions to add unique features and functionalities to your Magento 2 store.
Due to the global COVID-19 pandemic, eCommerce is experiencing yet another boom, which is great news for all Magento users. Magento website development companies are helping their clients to turn this adversity into an opportunity that can bring growth in business and revenue.
As Magento has been acquired by Adobe in mid-2018, it shows no signs of slowing down. Backed by a large community of proficient Magento 2 developers, the platform continually improves its features, security, even hosted events and conventions worldwide in 2019 to help the online retailers get to know its services.
Get Started with Magento 2 Development
Although Magento 2 development comes with a few challenges, the platform is a hugely innovative, feature-rich, reliable, and exciting option for eCommerce businesses. We believe that Magento is a suitable option for small and large enterprises and we are sure that it will continue to see growth in the upcoming years.
According to estimates, it has been predicted that the number of online shoppers served by Magento 2 stores could increase by 200% this year alone. However, this may see further growth because of the lockdown measures imposed worldwide due to the COVID-19 outbreak.
To keep you updated about the latest Magento stats and eCommerce news and trends we regularly post blogs. So, do check out our blogs and resources to stay updated on the latest news, tips, and resources for Magento 2.
As a leading Magento website development company, it’s our duty to keep our clients happy with our services and keep them updated with the latest happenings in the world of eCommerce.
Frequently Asked Questions
Q.1. Is Magento a better platform than Shopify?
Both Magento and Shopify are powerful eCommerce platforms for building an online store. While Shopify is a paid software, Magento is an open-source platform that is accessible to anyone. However, Magento is easy to use and does not require prior knowledge in coding, while Shopify is easily available for users who wish to build their platform easily.
Q.2. I want to convert my Magento web store into Magento mobile app. Can you help?
Yes, surely. Our team of Magento 2 developers can help you transform your online store into an immersive mobile experience for your customers. Just share your project requirements with us and we will provide you with the best-suited Magento 2 mobile app solution.
Q.3. How do I find the best Magento 2 support?
Magento can be a complicated platform for developers who haven’t used the software before. We suggest finding a developer who has a proven track record of building customized Magento eCommerce stores in the past. Magento Developer Group has vast experience and strong expertise in developing custom Magento 2 sites for our global clients. Our Magento 2 developers are highly trained, certified, and skilled professionals on this amazing platform.