Spryker Recognized as a Leader in 2024 Magic Quadrant™ for Digital Commerce

BERLIN and NEW YORK, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Spryker, the leading global composable commerce platform for sophisticated use cases in B2B Commerce, Enterprise Marketplaces, and IoT Commerce, has been recognized by Gartner® as a Leader in the 2024 Magic Quadrant™ for Digital Commerce. This marks Spryker's fifth consecutive inclusion in the Gartner® Magic Quadrant™ for Digital Commerce. The evaluation was based on specific criteria that analyzed the company's overall Completeness of Vision and Ability to Execute.

"We are incredibly proud to be recognized as a Leader in the Gartner Magic Quadrant for digital commerce. In my opinion, being positioned as the furthest on the 'Completeness of Vision' axis affirms the mission we've had from the beginning—to develop a truly composable, extendable, and future-proof platform for global enterprises," said Boris Lokschin, Co-Founder and Chief Executive Officer at Spryker. "In today's volatile market, agility is key, and we believe that the ability to quickly adapt will help enterprises transform uncertainty into opportunities for differentiation. Since day one, we've built our platform with complex business models in mind, even at the code level, and I believe this recognition underscores our commitment to empowering businesses to stay ahead of change."

Marketplaces have become a critical driver of growth and operational efficiency for companies across sectors. Research from Boston Consulting Group shows that B2B buyers believe this model is superior, stating that when shopping online eight of their 10 most important “needs” are fulfilled better through marketplaces than traditional e-commerce sites. Spryker's Enterprise Marketplace capability enables businesses building or expanding their marketplaces to launch and scale quickly, capturing more profitable growth. Recently, Spryker announced product updates to optimize its Enterprise Marketplace capability for the merchant experience, a critical relationship to ensure marketplace success, as well as a first-of-its-kind marketplace payment solution, built on Stripe Connect.

"We believe Gartner recognized Spryker as a Leader due to our unwavering commitment to helping enterprises innovate and scale rapidly - since day one. For businesses building or evolving their digital commerce strategy, enterprise marketplaces are key to unlocking new growth opportunities," said Elena Leonova, Chief Product Officer at Spryker. "By streamlining operations and automating key processes, Spryker's platform makes it easier for businesses to connect their merchants and buyers, ensuring a more efficient, engaging marketplace experience for all stakeholders."

Spryker continues to invest in innovative solutions that deliver greater speed, scale, and efficiency for its customers, including new AI-powered tools for business users and developers. Announced at Spryker EXCITE 2024, Spryker's new generative AI (genAI) tools for developers—Spryker DevQA Assistant, Cypress E2E Assistant, and K6 Performance Assistant—are designed to streamline development processes, automate quality assurance, and improve performance testing.

By providing the tools and capabilities businesses need to grow and innovate, Spryker ensures that companies across industries are equipped to succeed in a volatile and competitive market. Mark Wever, Global Chief Digital Officer at STAUFF, a leading manufacturer of hydraulic and fluid power port-to-port components and solutions and a Spryker customer, said, "With Spryker we have chosen the right technology which not only serves our customers' needs today, but also future-proofs our digital strategies."

Spryker continues its global expansion, particularly in North America, with a number of recent leadership appointments and project launches in the region. The company has newly announced key product innovations to enable efficient scaling for global enterprises including updates to its marketplace capabilities and AI features. Additionally, Spryker continues to bolster its global partner ecosystem to ensure faster time to market and increased operational efficiency for its customers.

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References:
*Gartner, Magic Quadrant for Digital Commerce, Mike Lowndes, Sandy Shen, Jason Daigler, Aditya Vasudevan, 6 November 2024.

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About Spryker
Spryker is the leading global composable commerce platform for enterprises with complex use cases to enable growth, innovation, and differentiation. Designed specifically for sophisticated transactional businesses, Spryker's easy-to-use, headless, API-first model enables businesses to adapt, scale, and quickly go to market while facilitating faster time-to-value throughout their digital transformation journey. As a global platform leader for B2B and B2C Enterprise Marketplaces, IoT Commerce, and Unified Commerce, Spryker has empowered 150+ global enterprise customers worldwide and is trusted by brands such as ALDI, Siemens, ZF Friedrichshafen, and Ricoh. Spryker is a privately held technology company headquartered in Berlin and New York backed by world class investors such as TCV, One Peak, Project A, Cherry Ventures, and Maverick Capital. Learn more at spryker.com and follow Spryker on LinkedIn and X.