Talking about Magento, it is open-source which allows businesses to create online stores, accept payments, manage products. Whereas on the other hand, WooCommerce is also an open-source eCommerce platform built on top of WordPress (a most popular website builder). As far as the features and functionality is concerned, both the platforms have different pros and cons which make them unique and special as per the requirements.
If you want to start your business, the most important factor to consider is the amount you are investing in it. Magento comes up with two editions, first one is the community edition that can be downloaded and installed from any hosting provider. Secondly, we have some paid plans for Magento that are quite expensive. They deliver additional features and professional support. Significantly several parameters lead to more investments. Moving to the investment of wooCommerce, it is available as free software that can be easily downloaded and installed. WooCommerce is almost free, one only need to register a domain name, SSL certificate, and a WordPress hosting account to start a wooCommerce store.
EXTENSION AND ADD-ONS
There are plenty of third-party extensions available for Magento, these extensions add new features and integrate the tools to the online store. Magento contains almost 3700 extensions where almost 1100 are available for free. Whereas on the other hand wooCommerce provides more than 55000 free WordPress plugins and thousands of paid plugins.
WooCommerce too is not that much behind as to that of Magento. It also has some major points which make it special among the hoards of platforms. It beats the Magento in terms of ease of use, cost of building and running an eCommerce store at scale.