VTEX named a Visionary in the 2021 Gartner® Magic Quadrant™ for Digital Commerce
We are beyond proud to announce that VTEX, the enterprise digital commerce platform, has been named a Visionary by Gartner® in its 2021 Magic Quadrant™ for Digital Commerce report. This remarkable distinction, the second in a row, validates the global momentum VTEX garnered in a historic year for the company filled with three acquisitions, a groundbreaking IPO and great quarterly financial results.
The traits of a Visionary
Gartner® anticipates that, by 2023, “prices for B2C digital commerce platforms will be 30% less than in 2019, due to feature commoditization and ‘headless’ implementations”. VTEX, having been a microservice-based, API-first, cloud and headless solution for almost 10 years and having recently joined the MACH Alliance, is fully equipped to thrive in that future thanks to its vast experience, superior product offering and constant investment towards innovation.
The 2021 Gartner® Magic Quadrant™ for Digital Commerce report salutes our growing customer base in North America and EMEA and our commitment to delivering digital commerce solutions for enterprise brands and retailers like Carrefour, AB InBev, Whirlpool, SONY, Unilever, CAE, Payless and Under Armour, just to name a few. Furthermore, it commends our recent acquisitions like Suiteshare and WorkArea, important stepping stones in our technological and regional expansions.
When it comes to highlighting our current strengths, however, the 2021 Gartner® Magic Quadrant™ for Digital Commerce report praises VTEX for the following three key assets:
- Product investment and functionality;
- Platform technology.
Let’s decode them together.
1. Product investment and functionality
Gartner® spotlights our incredible range of functionality in a single pre-integrated SaaS solution, complete with native marketplace capabilities, integrated OMS, AI-driven Intelligent Search, Headless CMS and VTEX IO, our low-code, serverless development platform.
All these significantly simplify platform implementation and management for our customers while also reducing the total cost of ownership. It also gives customers the flexibility to test new business models, reduces commerce ecosystem complexity and accelerates time to revenue.
Next up, the 2021 Gartner® Magic Quadrant™ for Digital Commerce report emphasizes our vast ecosystem, with over 400 applications and 175 implementation partners, bound to grow further and faster with initiatives like the VTEX Accelerator.
These cover solution providers for payments, tax, anti-fraud, ratings and reviews, digital experience and plenty others, all ready to be leveraged by our customers with ease according to regional preferences and requirements.
3. Platform technology
Last but not least, Gartner® draws attention to our modular technology, comprising over 100 independent modules with over 5,400 updates just in 2020. This great performance is owed to our microservices, which are completely independent of one another and can evolve at their own pace. In other words, updates can be applied to one service without the risk of unintended consequences elsewhere in the platform.
This architecture enables VTEX to continuously deliver new platform features and enhancements, allowing customers to always leverage the latest and best VTEX technology through automatic updates that require no intervention from IT teams. Agility and TCO once again come into play.
What is more, VTEX’s API-first approach gives customers the flexibility to compose solutions by integrating with any third-party system or application that supports the unique needs of their business and customers.
A bold vision
Overall, Gartner® analyzed 17 digital commerce platform vendors and VTEX distinguished itself on both axes, namely Completeness of Vision and Ability to Execute. We are proud to be recognized for our bold vision and to be crowned as Visionaries in the 2021 Gartner® Magic Quadrant™ for Digital Commerce report and, for the next issue, we’ll be eyeing the Leaders spot.
“We are pleased to again be recognized as a Visionary in the digital commerce industry by Gartner, an important authority in our field. This milestone is a result of our team’s unparalleled commitment in guiding enterprises to drive digital commerce transformation and build modern and customized experiences for their consumers. On the heels of our recent IPO, this recognition proves for enterprise brands and retailers that VTEX has a unique, composable and complete platform offering, which includes native marketplace technology, Order Management System – OMS and a strongly connected digital commerce ecosystem.”Mariano Gomide de Faria, Founder and Co-CEO at VTEX
You can find here a complimentary copy of the 2021 Gartner® Magic Quadrant™ for Digital Commerce report and don’t hesitate to get in touch for more information about VTEX, its commerce and marketplace capabilities and its work with some of the world’s largest brands.