Commerce Cloud Market was valued at USD 13 million in 2021 and is projected to reach USD 67 million in 2029 growing at a CAGR of 22.6% during 2022-2029
The factors driving growth of Commerce Cloud Market includes increasing use of tablets and laptops for running applications related to payments, online retailing and e-commerce related activities, commercialization of 5G technology, growing popularity of e-Grocery platforms and improvements in the living standards. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Blockchain, rising focus by companies on enhancing customer’s experience and improving operational efficiency, increase in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, growing population growth rates and rising disposable incomes, are further contributing towards the market growth.
However, growth of the Commerce Cloud Market is hindered due to rising concerns related to security and privacy.
The major players operating in the market are SAP SE, Episerver AB, Magento, Oracle Corporation, IBM Corporation, Salesforce Inc., Shopify, Inc., BigCommerce pty. Ltd., Apttus Corporation, and Digital River, Inc., among others.
Based on Component, the Platform segment is predicted to grow at a significant CAGR during the forecast period
Commerce cloud platforms helps retailers to simplify customization processes and enables single shared view of customers activities, are propelling Commerce Cloud Market share.
Based on Application, the Grocery and Pharmaceutical segment is projected to expand at a remarkable CAGR over the forecast period
Emerging trend of online shopping, discounts offered by grocery stores and rising focus on enhancing customer’s shopping experience, are pushing growth of the segment.
Based on Region, the North American region is anticipated to capture the largest market share during the forecast period
Presence of the leading players such as Oracle Corporation, IBM Corporation and., Shopify, Inc., increase in the number of online grocery stores, growing adoption of advanced technologies by companies, rapid industrialization, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.
Market Segmentation
Segmentation by Component
- Platform
- • Services
Segmentation by Organization Size
- Small and Medium-sized Enterprises
- • Large Enterprises
Segmentation by Application
- Electronics
- • Furniture, and Bookstores
- • Grocery and Pharmaceutical
- • Automotive
- • Fashion and Apparel
- • Quick Service Restaurants
- • Travel and Hospitality
- • Beauty and Cosmetics
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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Commerce Cloud Market SizeAs per the latest study by Market Research Future Reports (MRFR), the global commerce cloud market is projected to value USD 25.2 billion, with a promising CAGR of 22.7% by the end of 2025.
The rapid adoption of commerce cloud across the various enterprises is the major factor driving the global commerce cloud market 2020.
There has been an inclination towards e-commerce from the past few years, which is estimated to be a significant factor driving the global commerce cloud market.
However, the hesitation to adopt the cloud-based technology is anticipated to be a restraining factor.
Furthermore, a precise evaluation of factors augmenting and impeding the market in the post-COVID-19 environment has been analyzed.
We will provide COVID-19 impact analysis with the report.
Commerce Cloud MarketThe global commerce cloud market is expected to grow at a CAGR of 22.7% during the forecast period and cross USD 25.2 billion by 2025.Market USPIncreased adoption of cloud commerce, especially by businesses invested in e-commerce.SegmentationBy ComponentCommerce clouds offer a specialized view for B2B as well as B2C businesses.
B2B commerce cloud focuses on analyzing the economic relationship between two businesses in the long term, with special emphasis on logical planning.
Considering the 1.7 billion online shoppers in 2017 and the increasingly competitive nature of e-commerce, a B2B model is crucial in gaining an understanding of consumer behavior and the concurrent inventory and transaction management that must go with it.
In India alone, logistics costs stand at 14% of GDP, a very large amount when compared to other economies due to the fragmented nature of the logistics sector.
Employing commerce cloud can help reduce this number drastically.By ServiceThe service segment is expected to grow as cloud commerce evolves and collates increasing amounts of data.
Integration and deployment services are necessary to run various software systems in sync with each other and enable knowledge transfer among them.
According to a new market research report "Commerce Cloud Market by Component (Platforms and Services), Organization Size, Application (Electronics, Furniture, and Bookstores, Grocery and Pharmaceutical, Automotive, and Fashion and Apparel), and Region - Global Forecast 2024", published by MarketsandMarkets, the global Commerce Cloud Market size is expected to grow from USD 8.9 billion in 2019 to USD 27.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 24.9% during the forecast period.Increased flexibility and performance, and reduced time and cost are expected to spur the demand for commerce cloud offerings across the globe.Browse and in-depth TOC on “Commerce Cloud Market”55 - Tables33 - Figures117 - Pages Request PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=140063261Focus on selecting the right commerce cloud solution to drive the adoption of training and consulting servicesTraining and consulting services are provided by highly qualified industry or domain experts.
Moreover, these services help reduce risks, minimize complexities, and increase Reutrn on Investment (RoI).
Additionally, consulting services enable enterprises in making smarter decisions for the growth of their businesses.
Furthermore, with the help of consulting services, the commerce cloud providers can offer tailored commerce cloud solutions to their customers and deliver maximum benefits.Large enterprises to deploy commerce cloud platforms to effectively execute trading strategiesAs commerce cloud technologies are simplifying the Information Technology (IT) aspects, several enterprises have replaced their traditional data center infrastructure technologies and various other management processes with cloud computing.
Hence, the Commerce Cloud Industry for large enterprises is growing.North America to dominate the global Commerce Cloud Market in 2019North America is expected to be the largest contributor among all the regions, owing to its adoption of commerce cloud platforms and solutions by enterprises.
The top countries in the North American region, contributing to the growth of the Market, include the US and Canada.
The rapid adoption of commerce cloud across the various enterprises is the major factor driving the global commerce cloud market 2020.
There has been an inclination towards e-commerce from the past few years, which is estimated to be a significant factor driving the commerce cloud market.
However, the hesitation to adopt the cloud-based technology is anticipated to be a restraining factor.
Furthermore, a precise evaluation of factors augmenting and impeding the market in the post-COVID-19 environment has been analyzed.
Request a Free Sample Report @ https://www.marketresearchfuture.com/sample_request/8381Market Segmentation The commerce cloud market can be segregated on the basis of component, service, enterprise size, application, installation platform, and region.Based on components, the global commerce cloud market can be classified into B2B Commerce Cloud and B2C Commerce Cloud.Based on service, the commerce cloud market can be classified into Training and Consulting, Support and Maintenance, and Integration and Deployment.Based on enterprise size, the global commerce cloud market can be classified into Large Enterprises and Small and medium enterprises.Based on application, the commerce cloud market can be classified into Electronics, Furniture, and Bookstores, Quick Service Restaurants, Beauty and Cosmetics, Fashion and Apparel, and others.Based on the installation platform, the global commerce cloud market can be classified into Based on the region, the commerce cloud market can be classified into North America, Middle East & Africa, Asia-Pacific, Europe, and South America.
Regional Analysis The geographical analysis of North America, the Middle East & Africa, Asia-Pacific, Europe, and South America has been conducted.
