Market Research Future (MRFR), in its latest “Commerce Cloud Market” report, states that the global market of commerce cloud is expected to thrive at a CAGR of 22.7% and attain a valuation of USD 25.2 Billion by 2025.
Major benefits offered by a centralized commerce platform are an analysis of customer behavior and unify inventory that is highly desirable by enterprises. This is expected to spur the global commerce cloud market growth. The growing demand for a centralized buying platform to execute B2C businesses is adding to the momentum of the market. A pragmatic shift is from retail to e-commerce is observed. This is triggering the requirement for data-driven insights and automated merchandising. With the advent of technologies, such as AI and IoT, and they are being exercised across commercial ventures is serving the growing need for making business procedures seamless. These are likely to surge the worldwide commerce cloud market. Additional causes that are anticipated to impel the commerce cloud market are rise in need to simplify installation complexities and analyze consumer data. On the contrary, the skepticism of cloud-based technology can hinder the growth of the global commerce cloud market.
Region Outlook
The rapid proliferation of e-commerce in North America and APAC is expected to cast observed to impact the regional commerce cloud market positively. The market in Europe is expected to experience a sharp rise in its valuation due to surge in the adoption of advanced technology across different commercial ventures. Hence, overall, the commerce cloud market is likely to enjoy improved health.
The Global Commerce Cloud Market, according to the report by Market Research Future (MRFR), is slated to reach a value of USD 25.2 Billion by 2025 at a substantial CAGR of 22.7% over the review period.
Drivers and Restraints
The several driving factors expected to influence the growth of the commerce cloud market are the Augmented AI adoption in all commercial ventures, Demand for a centralized purchasing platform across B2C business verticals, the Need for a tool to collect and evaluate data pertaining to customer buying habits, Ease of maintenance and decrease in installation intricacy, Business requirement for data-driven insight, Shift from retail to e-commerce for most enterprises, and Automated merchandising.
On the other hand, factors likely to restrain the market growth over the review period are the Skepticism of cloud-based technology and the Significant learning curve for using this technology.
Segmental Analysis
The global market for commerce cloud is segmented on the basis of component, service, installation platform, enterprise type, and application.
By Component, the commerce cloud market has been segmented into b2b, which is Excellent for understanding B2B needs and studying the purchasing patterns of clients; and b2c, which Assists in streamlining checkout and understanding ideal average order value and customer preference.
By Service, the market has been segmented into training and consulting, integration and deployment, support, and maintenance. Training and consulting services are provided to enterprises to improve their practical usage of the solution, meet the definite needs of individual organizations, and produce measurable business results. The service restructures the learning process and disregards the trial and error phase. Integration and Commerce cloud is primarily employed to form an overarching view of the entire commercial enterprise. The solution needs to be cohesive with different facets of an enterprise and provide an easy-to-understand overview of the business as the whole structure. The integration of and deployment service ensures smooth deployment of the solution for maximized usability. Support and maintenance services include knowledge transfer, 24x7 support, service enhancements, and production support. The segment is slated to witness the highest growth rate during the forecast period.
By the Installation Platform, the market is bifurcated into desktop and mobile. Desktop: The broader market within this segment, the desktop cloud market is expected to keep growing. Mobile: The faster-growing sector, mobile commerce cloud installation, is increasing due to the shift in e-commerce from desktops to mobiles.
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Commerce Cloud Market TrendsThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Commerce Cloud Market Trends.
The growth sectors of the Commerce Cloud Market Trends are identified with precision for a better growth perspective.The Global Commerce Cloud Market, according to the report by Market Research Future (MRFR), is slated to reach a value of USD 25.2 Billion by 2025 at a substantial CAGR of 22.7% over the review period.Drivers and RestraintsThe several driving factors expected to influence the growth of the commerce cloud market are the Augmented AI adoption in all commercial ventures, Demand for a centralized purchasing platform across B2C business verticals, the Need for a tool to collect and evaluate data pertaining to customer buying habits, Ease of maintenance and decrease in installation intricacy, Business requirement for data-driven insight, Shift from retail to e-commerce for most enterprises, and Automated merchandising.On the other hand, factors likely to restrain the market growth over the review period are the Skepticism of cloud-based technology and the Significant learning curve for using this technology.Segmental AnalysisThe global market for commerce cloud is segmented on the basis of component, service, installation platform, enterprise type, and application.By Component, the commerce cloud market has been segmented into b2b, which is Excellent for understanding B2B needs and studying the purchasing patterns of clients; and b2c, which Assists in streamlining checkout and understanding ideal average order value and customer preference.By Service, the market has been segmented into training and consulting, integration and deployment, support, and maintenance.
Training and consulting services are provided to enterprises to improve their practical usage of the solution, meet the definite needs of individual organizations, and produce measurable business results.
Integration and Commerce cloud is primarily employed to form an overarching view of the entire commercial enterprise.
The solution needs to be cohesive with different facets of an enterprise and provide an easy-to-understand overview of the business as the whole structure.
The integration of and deployment service ensures smooth deployment of the solution for maximized usability.
OverviewThe commerce cloud industry is anticipated to grow by US$25.2 Billion by 2027 rapidly growing at a CAGR of 22.7% during the forecast period.
The global commerce cloud market is driven by increased adoption of cloud commerce across different industry verticals along with growing investment in research and development by e-commerce market players.
These factors have helped shape the commerce cloud market and are expected to boost the growth.
On the basis of enterprise size, the market for commerce cloud is segmented based on SMEs, large enterprises.
Additionally, the market on the basis of application, is segmented into fashion and apparel, grocery and pharmaceuticals, quick service restaurants, others.Factors like demand for a tool to collect and analyze data and centralized buying platform across b2c business verticals and reduction in installation, ease of maintenance, and business requirement for data-driven insight support the commerce cloud market growth.
The performance of the commerce cloud market has also been studied for the past and current years.
Commerce Cloud Market SynopsisThe 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.Market Drivers- Increased AI adoption in all commercial ventures- Demand for a centralized buying platform across B2C business verticals- Need for a tool to collect and analyze data pertaining to customer purchasing habits- Ease of maintenance and reduction in installation complexity- Business requirement for data-driven insight- Shift from retail to e-commerce for most enterprises- Automated merchandizingSegmentationBy 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.Get Sample @ https://www.marketresearchfuture.com/sample_request/8381By ServiceThe service segment is expected to grow as cloud commerce evolves and collates increasing amounts of data.
Its highly scalable nature along with the flexibility inherent to it ensures that it can facilitate unique solutions for all enterprises.By ApplicationThe applicability of cloud commerce is vital across all business verticals.
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.
