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Market Forecast

Global Commerce Cloud Market is expected to reach USD 25.2 Billion by 2025 at an impressive CAGR of 22.7%.

Market Synopsis

Commerce Cloud is increasingly being adopted by enterprises across verticals.

It offers unparalleled scalability and is ideal for any business offering online services to its customers.

Market USP

A centralized commerce platform which is excellent for unifying inventory and analyzing customer behavior.

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 merchandising

Market Restraints

  • Skepticism of cloud-based technology
  • Significant learning curve for using this technology

Segmentation

By Component

  • B2B Commerce Cloud: Excellent for understanding B2B needs and analyzing the purchasing patterns of clients.
  • B2C Commerce Cloud: Aids in streamlining checkout and understanding ideal average order value and customer preference.

By Service

  • Training and Consulting: Training and consulting services are offered to enterprises to improve their effective use of the solution, meet the specific needs of individual organizations, and produce measurable business results. The service streamlines the learning process and eliminates the frustrating trial and error phase.
  • Integration and Deployment: Commerce cloud is primarily employed to form an overarching view of the entire commercial enterprise. The solution needs to be integrated with different facets of an enterprise and provide an easy-to-understand overview of the entire business structure. The integration and deployment service ensures smooth deployment of the solution for maximized usability.
  • Support and Maintenance: The support and maintenance services include service enhancements, knowledge transfer, 24x7 support, and production support. The segment is expected to witness the highest growth rate during the forecast period.

By Installation Platform

  • Desktop: The larger market within this segment, the desktop cloud market is expected to keep growing.
  • Mobile: The faster-growing segment, mobile commerce cloud installation is increasing due to the shift in e-commerce from desktops to mobiles.

By Enterprise Size

  • SME: Small and medium enterprises critically benefit from commerce cloud technology due to its analytics capability which helps reduce redundancy and maintain a more profitable inventory.
  • Large Enterprises: Large enterprises benefit greatly by understanding the purchasing habits of all their clients.

By Application

  • Fashion and Apparel: This segment relies on the purchasing behavior and preferences of customers. It is especially viable for SMEs.
  • Electronics, Furniture, and Bookstores: Being consumer goods, these businesses have a critical requirement for maintaining a profitable inventory which comes about after analyzing the preferences of their clients.
  • Quick Service Restaurants: Thin profit margins and an emphasis on speed of delivery and consistency of taste makes it critical to reduce checkout times, minimize product range, and promote specialization. This makes cloud commerce technology critical to this segment.
  • Grocery and Pharmaceuticals: The key to this segment, especially the SME retail within this segment, is inventory and seamless checkout. Commerce cloud technology facilitates both with ease.
  • Beauty and Cosmetics: Market trends are important to this segment. Moreover, this segment is increasingly reliant on e-commerce for the sale of its products, thereby making commerce cloud indispensable to its profitable functioning.
  • Others: Virtually all businesses that have multiple clients and/or sell multiple products can be expected to engage in commerce cloud technology. This segment covers the gaming industry, sports equipment, etc.

By Region

  • North America: The largest regional market, the adoption of cloud technology is high in North America with the presence of many major players within this market. The commerce cloud market has successfully gained a foothold in all business enterprises within this region.
  • Europe: Adopted by large enterprises, the European market is growing due to the percolation of this technology to the SMEs operating within the region boosted by an increase in e-tailing.
  • Asia-Pacific: The fastest-growing market due to strong economic growth in the region, Asia-Pacific businesses are increasingly looking to cloud technology to further enhance their enterprises.
  • Middle East & Africa: A small market segment, countries like Israel and South Africa within the region are nonetheless increasingly looking to commerce cloud technology to boost their business.
  • South America: Serving to primarily meet demand within the continent, South American countries are slowly turning to commerce cloud technology to boost profitability. Mostly taken up by regional large enterprises, SMEs are increasingly availing commerce cloud technology as well.

Key Players

  • 2Checkout
  • Apttus Corporation
  • BigCommerce Pty. Ltd
  • commercetools GmbH
  • Episerver
  • Digital River, Inc.
  • Elastic Path Software Inc
  • Verve Industrial Protection
  • IBM Corporation
  • Kibo Commerce
  • Adobe Incorporated (Magento)
  • Oracle Corporation
  • Salesforce
  • SAP SE
  • Shopify
  • Infosys (SKAVA)
  • Unilog Content Solutions Pvt. Ltd
  • VTEX

More Information : https://www.marketresearchfuture.com/reports/commerce-cloud-market-8381

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