Magento eCommerce Market Share By Web Sales
We estimate that 0.3% of eCommerce websites powered by Magento brought in more than $100 Million in sales. This number grows to 0.8% when accounting for websites pulling between $50M and $100M in sales.
A majority of Magento stores fall between the high six-figure and low seven-figure range with 37.4% reporting $500K-$1M in web sales and 24% pulling in $1M-$5M respectively. The aggregate GMV of magento stores belonging to this range was found to be $1945.7M.
The total aggregate GMV for all Magento-powered eCommerce websites was found to be $225B.
Magento Market Share By Region
North America tops the chart with 43.65% of the total companies, followed by the European Union at 31.03% companies.
When segregated along geographical lines, the United States accounts for 42.17% of Magento’s installed base. Following far behind is the United Kingdom which makes up for the 8.24% of the eCommerce companies accounted for. The top five rounds up with Germany, Netherlands, and Brazil at 6.96%, 5.99%, and 3.94% respectively.
Magento Market Share by Traffic
Only 0.11% of eCommerce companies powered by Magento receive greater than 500,000 visits a month. An overwhelming majority of the eCommerce companies that use Magento (93.53%) receive less than 10,000 visits per month.
Magento has a tough climb against Shopify on one hand and the momentum of head-less eCommerce on the other hand (which is spearheaded by BigCommerce). The future of Magento lies in how well it retains mid-market and enterprise eCommerce companies, most of whom start small with Shopify and graduate to Shopify Plus.