Commerce Cloud is the most popular B2C and B2B commerce platform in the world. Commerce Cloud is a multi-tenant, cloud-based commerce platform that enables organizations to build intelligent, unified purchase experiences across all channels — mobile, social, online, and retail — for their customers. This is a cloud-based commerce platform that allows companies to create unified commerce and purchasing experience across numerous digital platforms, including mobile, online, social media, and others.
Commerce cloud solutions aid in the consolidation of numerous e-commerce stakeholders like executives, IT, marketing, and sales, among others. These stakeholders are involved in the full grocery retail process and contribute to the connected shopper's great shopping experience. Furthermore, client interest in internet purchasing has been rapidly increasing. The coronavirus epidemic was a driver for this new purchasing habit. As a result, the growth in enterprises switching to online commerce aids the commerce cloud market.
In recent years, portable devices such as smartphones, tablets, and laptops have become the most efficient platform for performing activities such as online payment, online retailing, online e-commerce activities, and many others. Furthermore, 5G wireless technology will also improve the performance of apps such as smart wallets, mobile payments, and digital bank services. The key to unlocking bigger and more engaging retail experiences and virtual environments is to use 5G networks.
According to data, over 80% of smartphone users completed an online purchase using their smartphones in 2019, demonstrating the global effect of online shopping. The popularity of commerce cloud platforms is fueled by increased flexibility and performance, as well as reduced time and cost of online operations.
Based on the study conducted by Fact.MR Research, From 2019 to 2020, the US e-commerce market expanded by 44% year over year, with online sales accounting for approximately 21% of total retail sales. Canada is presently the 9th largest e-commerce market in the world, with revenue forecast to exceed US$ 30 billion by 2020, and has the potential to grow much more in the global digital commerce sector.
OverviewThe commerce cloud market size is anticipated to grow by US$ 25.2 Billion by 2025 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.
The global market for commerce cloud is also covered based on the installation platform segment which is further split into desktop, mobile.
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.
