The online shopping trend has boosted the growth of e-commerce stores and marketplaces. And the rise of these marketplaces has embarked on various technology platforms on which these web stores and applications are developed. Although, there are many such platforms and businesses are trying to switch from Magento 1 to completely different platforms because of the hassles involved in M2 migration.But this can result in compromising with actual results because Magento today has made a special existence on the Internet Retailer B2B e-commerce 300 list by standing at no.1 with 42 merchants. This is because of its extraordinary features, all-round support, inbuilt security and performance boosters that no other platform has provided so far.
The emergence of Magento commerce in 2020
Its invention dates back to the year 2008 when the first version was released. Magento is an open source ecommerce platform written in PHP. It is built using the Zend framework. Magento 2 was launched in the year 2015 with updated features like- reduced table locking issues, improved page caching, enterprise-grade scalability, inbuilt rich snippets for structured data, new file structure with easier customization and much more. Its latest stable release is Magento 2.3.5. Magento has already declared to withdraw its support and maintenance service for 1.x versions from June 2020, that’s why companies are switching to Magento2 rapidly. But upgrading and migrating to 2.x is not necessary just because Magento is taking its support away. Migration is also because the latest upgrades come integrated with special features which are effective in generating maximum revenue and building consistent customers.
Latest trends in the usage of Magento
Magento 2 has seen a sudden rise in its usage since its acquisition by Adobe, which bought it for $1.68 billion in May of 2018.
1. According to Builtwith the market share of Magento for eCommerce:
Magento 2 is a great fit for medium to large retailers. Its features have made capable enough to secure about 28% of ecommerce market share, making it one of the most widely used platforms.
2. Hostingtribunal.com stated that total websites using Magento 2 are 14,542 and gradually increasing by 9.8%. Maximum users are the owners of online shopping stores and other services.
3. Studies by Creative Minds state that future of version 2 is bright. Worldwide sales on Magento commerce will reach till $2248 by 2020 and the online shoppers served by Magento will increase to 200% by this year.
4. Magento is the second most popular ecommerce platform after WooCommerce. It accounts for around 12% of the ecommerce market as stated by Cloud ways.
5. If looked from the development perspective, there are more than 2 lakhs Magento developers worldwide. This makes it easy for the online store owners to search someone for immediate assistance on their Magento project.
Why Magento 2.3 development has become so popular?
Large scale Businesses will have to migrate to Magento 2
Magento 2 is a reliable and robust option for each and every ecommerce store. Online shops having large websites, are heavy or have critical customer data like their credit/debit card details should migrate to Magento 2 platform if they have not considered it yet. Once migrated, you can enjoy immense benefits and advanced features not integrated in any other version before.
Migration was never easy and one thing to keep in mind is that moving to Magento 2 is not just an upgrade, but a complete replatforming process. Although, Magento 2 comes with many similarities to 1.x versions but it is entirely a different platform having special coding and database. Migration to Magento 2 requires planning and carefulness.
There are approximately 30% of ecommerce stores which are still on Magento 1.x and not ready to migrate. It’s obvious, startups and small businesses which are still in the developing phase cannot raise the cost required for Magento 2 migration. This is perfectly fine as they can coordinate or get help from qualified Magento developers for extensive support, develop security patches and maintain their existing Magento 1.x web store even after the support is withdrawn by Magento itself. Online startups can run smoothly and without any security issues for a reasonable time period. Once they have the required resources, they can migrate to Magento 2 easily.