The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Global Commerce Cloud Market. The growth sectors of the Global Commerce Cloud Market are identified with precision for a better growth perspective.
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.
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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.
Segmental Outline
The global commerce cloud market is studied by component, service, installation platform, enterprise size, and application.
By component, the market the segmented into B2B commerce cloud and B2C commerce cloud. The increase in the deployment of B2B commerce cloud is observed to gain popularity due to the growing need to understand B2B needs of clients and push purchase. Alongside, the B2C commerce cloud is also observed to be highly desirable among enterprises as they streamline checkout procedures. These factors are expected to gain considerable traction for the global commerce cloud market.
By service, the market is segmented into training and consulting, integration and deployment, and support and maintenance. The growing need for streamlining learning process is increasing the rate of adoption of training and consulting services by different enterprises. This is expected to gain traction for the global commerce cloud market. The support and maintenance segment is expected to expand at a high CAGR in the review period. The growing demand for 24x7 support for different sectors are expected to propel the growth of the global market of commerce cloud.
Key Players
Elastic Path Software Inc, Digital River, Inc., commercetools GmbH, BigCommerce Pty. Ltd, Episerver, 2Checkout, Apttus Corporation, IBM Corporation, Verve Industrial Protection, Kibo Commerce, Adobe Incorporated (Magento), Oracle Corporation, Salesforce, SAP SE, Shopify, Infosys (SKAVA), Unilog Content Solutions Pvt., Ltd, and VTEX.
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MarketsandMarkets forecasts 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.
An increasing number of businesses moving online are expected to provide huge opportunities in the market.Browse 55 market data Tables and 33 Figures spread through 117 Pages and in-depth TOC on " Global Commerce Cloud Market forecast 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"Request a Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=140063261According to MarketsandMarkets, commerce cloud is a part of digital commerce that provides a cloud-based, multi-tenant, Business-to-Business (B2B), and Business-to-Customer (B2C) commerce platform.
It enables intelligent and unified buying experiences across channels such as mobile, websites, social media platforms, and offline stores.
The platform aids in the digital business growth of brands by enabling rapid deployment and enhanced customer reach.Some of the major commerce cloud vendors are IBM (US), SAP (Germany), Salesforce (US), Apttus (US), Episerver (US), Oracle (US), Magento (US), Shopify (Canada), BigCommerce (US), and Digital River (US), Elastic Path (Canada), VTEX (Brazil), commercetools (Germany), Kibo (US), and Sitecore (India).
Founded in in 1911, IBM is headquartered in New York, US.
The company’s major operating sector consists of 5 business segments, namely, cognitive solutions, global business services, technology services and cloud platforms, systems, and global financing.
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.
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.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/8381Market Segmentation The global 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 global 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 global 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 global 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.
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.
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.
