Magento 2 is an upgraded open-source platform that offers a range of benefits for eCommerce development, including customized solutions, advanced search features, and unmatched usability. It enhances security, provides convenient integrations, and is responsive for mobile devices, making it an ideal choice for modern eCommerce stores. By streamlining the checkout process and reducing cart abandonment rates, Magento 2 helps increase conversion rates and overall returns for businesses.